Return on equity (ROE), %
(Profit or loss before taxes - taxes) x 100


Shareholders' equity (average) 

Return on investment (ROI), %
(Profit before taxes + interest and other financial expenses) x 100


Balance sheet total - non-interest bearing liabilities (average)

Gearing, %
(Interest-bearing liabilities - interest-bearing assets) x 100


Shareholders' equity 

Equity ratio, %
Shareholders' equity  x 100


Balance sheet total - advance payments received

Earnings per share
Profit for the period


Adjusted average number of shares during the period

Adjusted earnings per share (Adjusted EPS) is calculated by excluding from the result any adjustments related to alliance fees, acquisitions and disposals, restructuring and efficiency measures, impairment losses and litigation fees and settlements.

Equity per share
Shareholders' equity


Adjusted number of shares at the end of the financial period - own shares

Dividend per share
Total dividend


Adjusted number of shares at the end of the financial period - own shares 

Dividend/profit, % 
Dividend per share x 100


Earnings per share

Effective dividend yield, %
Dividend per share x 100


Adjusted share price at the end of the financial period 

Price-earnings ratio (P/E) 
Adjusted share price at the end of the financial period


Earnings per share 

Adjusted EBITDA

Adjusted EBITDA is reported excluding any adjustments related to alliance fees, acquisitions and disposals, restructuring and efficiency measures, impairment losses and litigation fees and settlements.

Operating profit

Operating profit is the net sum of operating income added to net sales, less cost of sales consisting of materials and services, less the costs resulting from employee benefits, depreciation and amortization as well as other operating expenses and any impairment. Exchange rate differences and gains or losses arising from changes in the fair value of derivatives are included in operating profit, provided that they result from items related to business operations; otherwise they are recognized under financing items. All other items of the consolidated statement of comprehensive income are presented after operating profit.

Adjusted operating result (Adjusted EBIT) 

Adjusted EBIT is calculated from operating result excluding any adjustments related to alliance fees, acquisitions and disposals, restructuring and efficiency measures, impairment losses and litigation fees and settlements.

Gross investments

Total investments made to non-current assets including acquisitions and capitalized research and development costs.