80
A n n u a l R e p o r t
2 0 1 2
EBITDA
Earnings before interest, tax, discretionary discount, depreciation and
amortisation.
EBIT
Earnings before discretionary discount, interest and tax.
Special discount
Total discount paid or committed as per note.
Total assets
Fixed assets plus net working capital.
Shareholder funds
Shareholder equity plus subordinated debentures.
Debt to asset ratio
(Total liabilities less deferred tax liabilities) divided by total assets.
Capital ratio
Shareholder equity divided by total assets.
Return on average equity
(Profit after tax) divided by ((opening shareholder equity plus closing
shareholder equity) divided by 2).
Glossary of terms
80
A n n u a l R e p o r t
2 0 1 2