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ADR
American depositary receipt.
Autonomous growth
is defined as the change in revenue attributable to changed volumes and selling prices. It excludes effects from currency and acquisition and divestment.
Carbon footprint
The carbon footprint of a product or organization is the total amount of greenhouse gas (GHG) emissions caused during a defined period, or across the total or part of a product lifecycle. It is expressed in terms of the amount of carbon dioxide equivalents emitted.
Code of Conduct
Our Code of Conduct defines our company values and how we work. It incorporates fundamental principles on issues such as business integrity, labor relations, health, safety, environment and security and community involvement.
Community Program
AkzoNobel's global Community Program encourages and gives financial support for employees to get involved, hands-on, in their local communities.
Cradle to Cradle
The Cradle to Cradle concept encourages the creation of products for cradle-to-cradle cycles, whose materials are perpetually circulated in closed loops.
Dow Jones Sustainability Index (DJSI)
The Dow Jones Sustainability Index tracks the performance of the global sustainability leaders. The top 10 percent of the 2,500 largest companies in the Dow Jones Global Indexes, rated by sustainability performance, are selected as components of DJSI.
Earnings per share
Net income attributable to shareholders divided by the weighted average number of common shares outstanding during the year.
EBIT
Operating income before incidentals.
EBIT margin
EBIT margin is operating income or EBIT as percentage of revenue and can refer to margins both before and after incidentals.
EBITDA
EBITDA is EBIT before depreciation and amortization and refers in this report to EBITDA before incidentals.
EBITDA coverage
EBITDA divided by the sum of financing income and expenses.
EBITDA margin
EBITDA margin is EBITDA as percentage of revenue.
Eco-efficiency
Eco-efficiency means doing more for less: creating goods and services while using fewer resources and creating less waste and pollution.
Eco-premium solutions
A measure of the eco-efficiency of our products. An ecopremium solution is significantly better than competing offers in the market in at least one eco-efficiency criterion (toxicity, energy use, use of natural resources/raw materials, emissions and waste, land use, risks), and not significantly worse in any other criteria.
Emissions and waste
We report emissions to air, land and water for those substances which may have an impact on people or the environment: CO2, NOx and SOx, VOCs, Chemical Oxygen Demand, hazardous and non-hazardous waste. Definitions are in the Sustainability facts and figures section.
EOI (EVA on invested capital)
Economic value created in relation to invested capital during the period of three consecutive years. This measure is used to encourage EVA performance over a longer period of time.
EVA (Economic Value Added)
EVA is calculated by deducting from net operating profit after taxes (NOPAT) a capital charge representing the cost of capital.
Gearing
Net interest-bearing borrowings divided by equity.
High growth markets
We classify high growth markets as all countries apart from: Austria, Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, the UK and the US.
Incidentals
Incidentals are transformation costs, special charges and benefits, results on divestments, restructuring and impairment charges, and charges related to major legal, antitrust, and environmental cases. EBIT and EBITDA before incidentals and EBIT before incidentals and amortization and depreciation of fair value adjustments are key figures management uses to assess the company's performance, as these figures better reflect the underlying trends in the results of the activities.
Interest coverage
Operating Income divided by the sum of financing income and expenses.
Invested capital
Invested capital is total assets (excluding cash and cash equivalents, investments in associates, assets held for sale) less current income tax payable and less trade and other payables.
Key value chain
Used to map the carbon footprint of our businesses. Key value chains are product groupings with similar footprint characteristics, which are representative of the majority of total BU revenue/production.
Loss of containment
Loss of containment is an indicator we use to monitor the integrity of our assets. We have defined four levels to indicate the level of loss, from small, on-site spill to Level 4 – a significant emission of a toxic/hazardous material.
Natural resource use
We do not report specific natural resource use, except water. We do report our use of energy and wastes from our operations, and indicate the main raw materials used in our products.
Net income
Net income attributable to shareholders of Akzo Nobel N.V.
Net income before incidentals
The sum of net income and incidental charges after tax; or net income less incidental gains after tax.
Net interest-bearing borrowings
Long-term borrowings plus short-term borrowings less cash and cash equivalents.
Non-western
We classify non-western as all countries apart from: Austria, Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, the UK and the US.
Operating income
Operating income is defined in accordance with IFRS and includes the relevant incidental charges.
Operating working capital
Operating working capital is defined as the sum of inventories, trade receivables and trade payables in the business areas. When expressed as a ratio, operating working capital is measured against four times last quarter revenue.
Operational eco-efficiency
Operational eco-efficiency is the eco-efficiency of our manufacturing operations. Our aim is to improve the operational eco-efficiency by reducing the resources used and emissions/waste from our sites during the manufacture of our products.
P&D Dialog
Performance & Development Dialog (P&D Dialog) is AkzoNobel's global performance and appraisal system for employees.
Pay-out ratio
Dividend divided by net income before incidentals.
Profit for the period
The sum of net income attributable to shareholders of Akzo Nobel N.V. and the income attributable to minority interests.
Regulatory action
We have defined three categories of regulatory action from Level 1 – a self-reported issue, to Level 3 – a formal legal notification.
Revenue
Revenue consists of income from the sale of goods, services and royalties.
Serious incident
We have defined three levels of serious incident. The highest category – Level 3 – involves any loss of life; more than five serious injuries; environmental, asset or business damage totaling more than €25 million; inability to maintain business; or serious reputation damage to AkzoNobel stakeholders.
Shareholders' equity per share
Akzo Nobel N.V. shareholders' equity divided by the number of common shares outstanding at December 31.
Talent Factory
Talent Factory describes our ambition to be recognized as a company which offers opportunities to its people for ongoing learning, development and growth.
Total reportable rate of injuries
The total reportable rate is the number of injuries per 1,000,000 hours worked. Full definitions are in the Sustainability facts and figures section.
Transformation costs
Transformation costs are acquisition-related costs, cost related to divesting businesses as agreed with the European and Canadian authorities, and costs for the new corporate identity.
TSR (total shareholder return)
Used to compare the performance of different companies' stocks and shares over time. It combines share price appreciation and dividends paid to show the total return to the shareholder. The relative TSR position reflects the market perception of overall performance relative to a reference group.
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