ATTRIBUTABLE CASH FLOW PER ORDINARY SHARE
Cash flow from operating activities after adjusting for minority participation therein divided by the weighted average number of ordinary shares in issue during the year

CAPITAL EMPLOYED
Total shareholders’ equity plus net debt minus non-current financial asset investments

CASH AND CASH EQUIVALENTS
Comprise cash on hand and current accounts in bank, net of bank overdrafts together with any highly liquid investments readily convertible to known amounts of cash and not subject to significant risk of changes in value

CURRENT RATIO
Current assets divided by current liabilities

DIVIDEND COVER
Headline earnings per ordinary share divided by dividends per ordinary share

DIVIDEND YIELD
Dividends per ordinary share divided by the closing share price on the JSE Limited

EARNINGS PER ORDINARY SHARE
– Attributable earnings basis
Earnings attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year
– Headline earnings basis
Earnings attributable to ordinary shareholders adjusted for profits and losses on items of a capital nature
recognising the taxation and minority impacts on these adjustments, divided by the weighted average number of ordinary shares in issue during the year

FINANCING COST COVER
– Ebit
Net operating profit (before interest and tax) divided by net financing costs
– Ebitda
Net operating profit (before interest, tax, depreciation, amortisation, impairment charges and net deficit/ surplus on sale of investments and assets), divided by net financing costs

HEADLINE EARNINGS YIELD
Headline earnings per ordinary share divided by the closing share price on the JSE Limited

INVESTED CAPITAL
Total shareholders’ equity, interest-bearing debt, non-current provisions and net deferred taxation less cash and cash equivalents

NET ASSETS
Total assets less current and non-current liabilities less minority interest which equates to ordinary shareholders’ equity

NET DEBT TO EQUITY RATIO
Interest-bearing debt less cash and cash equivalents as percentage of total shareholders’ equity

NET EQUITY PER ORDINARY SHARE
Ordinary shareholders’ equity divided by the number of ordinary shares in issue at the year end

NUMBER OF YEARS TO REPAY INTEREST-BEARING DEBT
Interest-bearing debt divided by cash flow from operating activities before dividends paid

OPERATING MARGIN
Net operating profit as a percentage of revenue

OPERATING PROFIT PER EMPLOYEE
Operating profit divided by the average number of employees during the year

RETURN ON CAPITAL EMPLOYED
Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of average capital employed

RETURN ON ORDINARY SHAREHOLDERS’ EQUITY
– Attributable earnings
Attributable earnings to ordinary shareholders as a percentage of average ordinary shareholders’ equity
– Headline earnings
Headline earnings attributable to ordinary shareholders as a percentage of average ordinary shareholders’ equity

RETURN ON INVESTED CAPITAL
Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of the average invested capital

RETURN ON NET ASSETS
Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of the average net assets

REVENUE PER EMPLOYEE
Revenue divided by the average number of employees during the year

TOTAL ASSET TURNOVER
Revenue divided by average total assets

WEIGHTED AVERAGE NUMBER OF SHARES IN ISSUE
The number of shares in issue at the beginning of the year, increased by shares issued during the year, weighted on a time basis for the year which they have participated in the income of the group. In the case of shares issued pursuant to a share capitalisation award in lieu of dividends, the participation of such shares is deemed to be from the date of issue