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  ANNUAL REPORT 2007  
DEFINITIONS and abbreviations    
 
 
 
Definitions
 
Cash flow per share
Cash flow from operating activities before dividends paid, divided by the weighted average number of shares in issue during the year.
 
Current ratio
Current assets divided by short-term non-interest-bearing debt.
 
Dividend cover
Normalised headline earnings per share divided by dividends per share.
 
Dividend yield
Dividends per share divided by market price per share at year-end.
 
Earnings yield
Normalised headline earnings per share divided by market price per share at year-end.
 
EBITDA
Earnings (operating profit) before interest, taxation, depreciation and amortisation of intangible assets.
 
Headline earnings per share
Attributable earnings adjusted for attributable value of items in terms of SAICA circular 08/2007, divided by the weighted average number of ordinary shares in issue during the year.
 
Market capitalisation
Market price per share at year-end multiplied by number of ordinary shares in issue.
 
Net assets
Total assets less non-interest-bearing debt, excluding RCCF borrowings.
 
Net asset turn
Revenue divided by average net operating assets.
 
Net borrowings
Total borrowings net of cash and cash equivalents.
 
Net interest cover
Operating profit and dividends from associate company divided by net interest paid.
 
Net operating assets
Total assets excluding cash and cash equivalents, less current liabilities excluding short-term borrowings and bank overdrafts.
 
Net worth per share
Ordinary shareholders’ funds divided by shares in issue at year-end.
 
Normalised headline earnings per share
Attributable headline earnings adjusted for the interest in profit that is economically attributable to BEE partners and other items included in profit that are directly associated with BEE transactions divided by the weighted average number of ordinary shares in issue during the year.
 
Operating margin
Operating profit divided by revenue.
 
Return on net operating assets
Operating profit, plus share of associate company’s profit, less adjustments for capital items excluded from headline earnings, divided by average net operating assets.
 
Return on net operating assets excluding investments in associates
As for return on net operating assets excluding investments in and share of associate company’s profit.
 
Return on ordinary shareholders’ funds
Normalised headline earnings divided by average ordinary shareholders’ funds.
 
Total assets
Property, plant and equipment, intangible assets, investments and current assets.
 
Total borrowings
Interest-bearing debt.
 
Total liabilities
Total liabilities excluding deferred taxation.
 
 
Abbreviations
 
Full name Abbreviation
Aberdare Cables (Pty) Limited Aberdare
Acuo Technologies (Pty) Limited Acuo
ATC (Pty) Limited ATC
Bargenel Investments Limited Bargenel
Barloworld Limited Barlows
Broad-Based Black Economic Empowerment BBBEE
Black Economic Empowerment BEE
Cafca Limited CAFCA
CBI-electric Aberdare ATC Telecom Cables (Pty) Limited Aberdare/ATC joint venture
JSE Limited the JSE
Kgorong Investment Holdings (Pty) Limited Kgorong
Kopano Copiers (Pty) Limited Nashua Kopano
Nashua Mobile (Pty) Limited Nashua Mobile
Nokia Siemens Networks SA (Pty) Limited NSN
 
Full name Abbreviation
Pansolutions (Pty) Limited Pansolutions
Peotona Group Holdings (Pty) Limited Peotona
Powerhouse Utilities (Pty) Limited Powerhouse
PSG Group Limited PSG
Quince Capital Holdings (Pty) Limited Quince
Rand Merchant Bank (A division of FirstRand Bank Limited) RMB
RC&C Finance Company (Pty) Limited RCCF
RDL Technologies (Pty) Limited RDL
Reunert Finance Company Limited RFCL
Reunert Limited Reunert
Reunert Management Services Limited RMS
Reutech Engineering Services (Pty) Limited RES
Reutech Radar Systems (Pty) Limited RRS
The group’s defence businesses Reutech
     
 
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