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| 2012 aNNual rEpOrT prySmiaN grOup
In addition to the standard financial reporting formats and
indicators required under IFRS, this document contains
a number of reclassified statements and alternative
performance indicators. The purpose is to help users better
evaluate the Group’s economic and financial performance.
However, these statements and indicators should not be
treated as a substitute for the standard ones required by IFRS.
The alternative indicators used for reviewing the income
statement include:
•
Adjusted net profit/(loss):
net profit/(loss) before non-
recurring income and expenses, the fair value change in
metal derivatives and in other fair value items, the effect
of currency and interest rate derivatives, exchange rate
differences and the related tax effects;
•
Adjusted operating income:
operating income before non-
recurring income and expenses and the fair value change in
metal derivatives and in other fair value items, as reported
in the consolidated income statement. The purpose of this
indicator is to present the Group’s operating profitability
without the effects of events considered to be outside its
recurring operations;
•
EBITDA:
operating income before the fair value change in
metal price derivatives and in other fair value items and
before amortisation, depreciation and impairment. The
purpose of this indicator is to present the Group’s operating
profitability before the main non-monetary items;
•
Adjusted EBITDA:
EBITDA as defined above calculated
before non-recurring income and expenses, as reported in
the consolidated income statement. The purpose of this
indicator is to present the Group’s operating profitability
before the main non-monetary items, without the effects
of events considered to be outside the Group’s recurring
operations;
•
Organic growth:
change in sales calculated net of changes in
the scope of consolidation, changes in metal prices and the
effect of exchange rates;
•
ROCE:
the ratio between adjusted operating income and the
sum of equity, net financial position and employee benefit
obligations.
ALTERNATIVE PERFORMANCE
INDICATORS
CONSOlidaTEd FiNaNCial STaTEmENTS >
DIRECTORS’ REPORT
