A
- Acquisition
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Takeover or purchase of companies or of interests in companies.
- Affiliated companies
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Companies that are directly or indirectly under the same management—in this case of voestalpine AG—in which voestalpine AG holds, directly or indirectly, a majority of the voting rights or exercises the controlling influence.
- Asset deal
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Company takeover, where the buyer purchases individual assets (rather than shares).
- ATX
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“Austrian Traded Index,” the leading index of the Vienna Stock Exchange, which contains the 20 most important stocks in the prime market segment.
- Borrowed capital
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Inclusive term for provisions, trade and other payables, posted on the liabilities side of the statement of financial position.
- Borrowed capital ratio
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Ratio of borrowed capital recorded on the statement of financial position to total assets (the higher the ratio, the higher the debt burden).
- Capital employed
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Total employed interestbearing capital.
- Cash flow
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From investing activities: outflow/inflow of liquid assets from investments/disinvestments;
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From operating activities: outflow/inflow of liquid assets not affected by investment, disinvestment, or financing activities.
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From financing activities: outflow/inflow of liquid assets from capital expenditures and capital contributions.
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- Cost of materials
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Incorporates all expenditures necessary for the procurement of raw and auxiliary materials required for production.
- Current assets
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Those assets that are expected to be realized in cash or consumed in the short term, that is, they are not expected to be available for a company’s business operations long-term, for example, inventory, trade accounts receivable, or securities.
- EBIT (earnings before interest and taxes)
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Profit before the deduction of taxes, noncontrolling interests, and financial result.
- EBIT margin
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EBIT percentage of revenue.
- EBITDA (earnings before interest, taxes, depreciation, and amortization)
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Profit before the deduction of taxes, non-controlling interests, financial result, and depreciation and amortization expenses.
- EBITDA margin
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EBITDA percentage of revenue.
- EBT (earnings before taxes)
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Profit before the deduction of taxes and non-controlling interests.
- Equity
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Assets made available to a corporation by the owners through deposits and/or contributions or from retained profits.
- Equity ratio
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Equity divided by total assets.
- Free float
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The portion of the share capital that is actively traded on the stock exchange.
- Full-time equivalent (FTE)
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A full-time employee corresponds to a full-time equivalent of one, part-time employees are taken into account on a pro-rata basis corresponding to their working hours.
- Gearing
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Ratio of net financial debt to equity.
- Gross profit
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Revenue less cost of sales.
- IFRS (International Financial Reporting Standards)
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Accounting regulations developed to guarantee comparable accounting and disclosure.
- Joint venture
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A business partnership between two or more companies, which remain independent but which pool capital to pursue a commercial goal, for example, the penetration of a foreign market.
- Market capitalization
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Market capitalization reflects the current market price of an exchange-listed company.
- Net financial debt
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Interest-bearing liabilities less interest-earning assets.
- Purchase price allocation (ppa)
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Within the scope of the acquisition of a company, the purchase price is allocated to the assets and liabilities of the acquired enterprise, which are then assigned fair values and recognized in the Group’s consolidated financial statements.
- Rating
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An evaluation of the credit quality of a company recognized on international capital markets.
- Return on equity
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ROE is the ratio between profit for the period and equity as recorded in the previous period.
- ROCE (return on capital employed)
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ROCE is the ratio of EBIT to average capital employed (until business year 2008/09, EBIT to capital employed), that is, profit generated by the capital invested.
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The minimum capital requirement to be contributed by the shareholders for shares when establishing a stock corporation or limited partnership; it is issued in shares and constitutes a part of equity.
- Volatility
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The degree of fluctuation in stock prices and currency exchange rates or in prices of consumer goods in comparison to the market.
- Weighted average cost of capital (WACC)
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Average capital costs for both borrowed capital and equity.
