Glossary

Total number of hours worked divided by the number of hours worked per year (1,920 hours).

Total assets less noninterest-bearing liabilities and noninterest- bearing provisions. Average capital employed is calculated as capital employed at the start of the year plus capital employed at the end of the year, divided by two.

Cash flow for the year divided by a weighted average number of shares outstanding. For cash flow per share after the dilutive effect see "Earnings per share after dilution" below.

Interest-bearing liabilities divided by shareholders' equity including minority interests.

Dividend per share divided by the year-end share price.

Majority owner's share of net profit for the year divided by a weighted average number of shares outstanding.

Majority owner's share of net profit for the year after tax, adjusted for interest expenses after taxes pertaining to outstanding convertibles, divided by a weighted average number of common shares adjusted for the dilutive effect of convertibles. The dilutive effect of convertibles consists of the number of shares that would be issued upon full conversion.

Shareholders' equity including minority interests, as a percentage of total assets.

Global Reporting Initiative.

Profit after financial items plus financial expenses, divided by financial expenses.

Like-for-like sales refer to store sales reported on the basis of an entire comparison period, i.e., both years.

Profit after financial items as a percentage of net sales for the year.

Shareholders' equity divided by the number of shares outstanding. For net asset value per share after the dilutive effect, see "Earnings per share after dilution" above.

Cash and cash equivalents plus interest-bearing receivables less interest-bearing liabilities and provisions.

Interest-bearing liabilities and provisions less cash and cash equivalents and interest-bearing receivables, divided by shareholders' equity including minority interests.

Operating profit as a percentage of net sales for the year.

Share price in relation to earnings per share.

Profit after financial items, plus financial expenses, as a percentage of average capital employed.

Majority owner's share of net profit for the year as a percentage of the majority owner's share of average shareholders' equity. Average shareholders' equity is calculated as shareholders' equity at the start of the year plus shareholders' equity at the end of the year, divided by two.