Definitions

The Group’s financial reports include financial ratios defined in accordance with IFRS, as well as measures that are not defined under IFRS, referred to as alternative performance measures (APMs).

Organic growth, EBITA, adjusted EBITA, EBITA margin and adjusted EBITA margin are APMs for which detailed calculations are presented below. These measures are intended to provide additional insight into the Group's performance and financial position, and to facilitate meaningful comparisons between reporting periods.

Management uses these APMs to monitor the Group's operations and assess progress against its financial targets. They are important for understanding the underlying performance of the business.

Acquisition-related items
Depreciation/amortization and impairment of goodwill and acquisition-related intangible assets, revaluation of contingent considerations and gains/losses on divestment of companies and operations.

Average number of FTEs
Average number of employees during the year converted to the equivalent number of year-long, full-time positions. The actual number of employees is higher due to part-time employment and employees who worked for only part of the year.

Capacity utilization
Time invoiced to clients in relation to the total time all employees are present at work.

Cash flow per share
Cash flow from operating activities in relation to average number of outstanding shares.

Current ratio
Current assets in relation to current liabilities.

Dividend yield
Dividend per share in relation to the share price at the end of the reporting period.

Earnings per share
Earnings attributable to the parent company’s shareholders in relation to the average number of outstanding shares. Own shares are not considered outstanding shares.

EBITA
Earnings before interest, taxes and amortization. Operating profit/loss with restoration of acquisition-related items.

EBITA adjusted
EBITA adjusted for items affecting comparability.

EBITA margin
EBITA in relation to net sales.

EBITA margin adjusted
EBITA margin adjusted for items affecting comparability.

EBITDA
Earnings before interest, taxes, depreciation and amortization. Operating profit/loss before interest, taxes, impairment and depreciation/amortization.

Equity per share
Equity attributable to the parent company’s shareholders in relation to the total number of outstanding shares.

Equity ratio
Equity including non-controlling interests in relation to balance sheet total.

Growth-total
Growth between two periods presented in change in value or percentage. Calculation: Value (Net sales minus net sales comparison period) and percentage (Net sales minus net sales comparison period divided by net sales comparison period).

Growth-acquired
Net growth in net sales attributable to acquired and divested operations between two periods, expressed as a value or percentage. Net sales from acquired or divested units are included for 12 months from the date on which the transaction affected the Group's results. Calculation: Value (Net sales from acquired operations minus net sales from divested operations, adjusted for the comparison period) and percentage (Net sales from acquired operations minus net sales from divested operations, adjusted for the comparison period, divided by net sales in the comparison period).

Growth-currency effect
Net currency impact between two periods presented in change in value or percentage. Calculation: Value (Net sales minus the corresponding net sales recalculated with the exchange rates of the comparison period) and percentage (Net sales minus the corresponding net sales recalculated with the exchange rates of the comparison period divided by the net sales comparison period).

Growth-organic
Growth adjusted for acquisitions, divestments and currency effects between two periods presented in a change in value or percentage. Calculation as follows: Value (Net sales minus net sales for acquisitions, divestment and currency impact) and percentage (Net sales minus net sales for acquisitions, divestments and currency effects divided by net sales comparison period).

Growth-due to calendar
Calendar impact between two periods presented in change value or percentage. Calculation: Value (Difference in working hours between two periods divided by the total number of working hours of the comparison period multiplied by the total net sales of the comparison period) and percentage (Difference in working hours between two periods divided by the total number of working hours multiplied by the total net sales of the comparison period divided by the net sales comparison period).

Growth-adjusted organic
Organic growth adjusted for calendar impact between two periods presented in change in value or percentage. Calculation: Value (Organic growth minus calendar impact) and percentage (Organic growth minus calendar impact divided by net sales comparison period).

Interest cover
Profit/loss after financial items, adjusted for interest expenses, in relation to interest expenses.

Items affecting comparability
Primarily refers to restructuring costs and costs related to significant acquisitions. Other non-recurring items may also be reported as items affecting comparability in the cases when this gives a fairer picture of the underlying operating profit.

Net debt
Interest-bearing liabilities (excluding contingent considerations) and pension provisions less cash, cash equivalents and interest-bearing receivables.

Net debt/equity ratio
Net debt in relation to equity including non-controlling interests.

Number of employees
Total number of employees at the end of the reporting period.

Operating margin
Operating profit in relation to net sales.

Operating profit (EBIT)
Profit/loss before net financial items and tax (earnings before interest and tax).

Operating profit excl. items affecting comparability
Operating profit/loss adjusted for items affecting comparability.

Operating margin excl. items affecting comparability
Operating margin adjusted for items affecting comparability.

Order backlog
The total amount of revenue not yet recognized from awarded contracts.

Profit margin
Profit/loss after financial items, in relation to net sales.

Return on capital employed
Profit/loss after financial items and restoration of financial expenses in relation to the average balance sheet total, less non-interest-bearing liabilities and net deferred tax.

Return on equity
Profit/loss after tax in relation to average shareholders’ equity including non-controlling interests.

Return on total capital
Profit/loss after financial items and restoration of financial expenses, in relation to average balance sheet total.

Rolling twelve-month sales and operating profit
Net sales and operating profit for the most recent twelve-month period.

Total shareholder return
Share price development including reinvested dividend.