Share Price EUR 98,17 17:34 GMT 24.08.2016

Glossary

Financial Indicator Definitions

Cash earnings

Sum of profit for the year before depreciation, amortization as well as impairment of property, plant and equipment and intangible assets before deferred taxes.

Cash earnings margin

Cash earnings divided by sales.

EBITDA (Earnings before interest, income taxes, depreciation and amortization)

Profit before tax excluding net interest income/expenses, the respective profit attributable to non-controlling (minority) shareholders according to IAS 32 as well as depreciation, amortization and impairment of property, plant and equipment and intangible assets.

CEBITDA margin

EBITDA divided by sales.

Employees

Employees at the year end, including apprentices and part-time employees on a pro-rata basis.

Enterprise value

The sum of market capitalization and non-controlling (minority) interests subtracted by net debt (see definition net debt / net liquidity.

Total equity and non-current liabilities to PPE

The sum of total equity and non-current liabilities divided by property, plant and equipment.

Total equity to total assets

Total equity divided by total assets.

Net debt / net liquidity

The sum of current and non-current interest-bearing financial liabilities including liabilities from finance lease less cash and cash equivalents as well as current and non-current securities. In case the sum of cash and cash equivalents as well as securities exceeds financial liabilities, there is net liquidity. An existing net liquidity is not considered for the calculation of the enterprise value.

Net profit margin

Profit for the year divided by sales.

Operating margin

Operating profit divided by sales.

Property, plant and equipment to total assets

Property, plant and equipment divided by total assets.

Return on assets (ROA)

The sum of profit for the year, interest expense and the respective profit attributable to non-controlling (minority) shareholders according to IAS 32 divided by average total assets.

Return on capital employed (ROCE)

Profit before tax excluding net interest income/expenses and excluding the respective profit attributable to non-controlling (minority) shareholders according to IAS 32 divided by the sum of average total equity, average current and non-current interest bearing financial liabilities including liabilities from finance lease, average provisions for other non-current liabilities and charges and average obligations with regard to non-controlling (minority) shareholders according to IAS 32, less average cash and cash equivalents as well as current and non-current securities.

Return on equity (ROE)

Profit for the year divided by average total equity.

Return on investment (ROI)

The sum of profit for the year, interest expense and the respective profit attributable to non-controlling (minority) shareholders according to IAS 32 divided by the sum of average total equity plus average current and non-current interest-bearing financial liabilities including liabilities from finance lease.

Sheet equivalent

Production volume in sheets from offset printing and running meters from gravure printing and flexographic converted into a standardized unit.

Working capital

The sum of total current assets and non-current securities less total current liabilities (excluding revolving bank debt).