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NOTES
118 • Consolidated financial statements
PANDORA ANNUAL REPORT 2016
SECTION 5: OTHER DISCLOSURES, CONTINUED
FINANCIAL DEFINITIONS
5.6
Key figures and financial ratios stated in the consolidated financial statements have been calculated in accordance with the
Danish Finance Society’s guidelines ‘Recommendations & Financial Ratios 2015’:
Revenue growth, %
(This year’s revenue - last year’s revenue) (rolling 12 months)
Last year’s revenue
Gross profit growth, %
(This year’s gross profit - last year’s gross profit) (rolling 12 months)
Last year’s gross profit
Net profit growth, %
(This year’s net profit - last year’s net profit) (rolling 12 months)
Last year’s net profit
Gross margin, %
Gross profit / revenue
Effective tax rate, %
Income tax expense / profit before tax
Equity ratio, %
Equity / total assets
Payout ratio
Dividends paid for the year / net profit
Total payout ratio
Dividends paid for the year plus value of share buyback / net profit
EPS basic
Net profit / average number of shares outstanding
EPS diluted
Net profit / average number of shares outstanding, including the dilutive effect of
share options ‘in the money’