121 / 143
NOTES
Consolidated financial statements • 119
SECTION 5: OTHER DISCLOSURES, CONTINUED
PANDORA presents the following alternative performance measures not defined according to IFRS (non-GAAP measures) in
the annual report:
EBITDA
Earnings before interest, tax, depreciation, amortisation and impairment losses
EBIT
Earnings before interest and tax (operating profit)
EBITDA growth, %
(This year’s EBITDA - last year’s EBITDA) (rolling 12 months)
Last year’s EBITDA
EBIT growth, %
(This year’s EBIT - last year’s EBIT) (rolling 12 months)
Last year’s EBIT
EBITDA margin, %
EBITDA / revenue
EBIT margin, %
EBIT / revenue
NIBD
Cash less Loans and borrowings and other liabilities relating to obligations to
acquire non-controlling interests (current and non-current)
NIBD to EBITDA
NIBD / EBITDA (rolling 12 months)
Capital expenditure (CAPEX)
Purchase of intangible assets and property, plant and equipment for the year,
excluding acquisitions of subsidiaries
Return on invested capital (ROIC), % EBIT / invested capital incl. goodwill
Cash conversion, %
Free cash flow before acquisitions / EBIT
Like-for-like sales-out
Revenue from concept stores that have been operating for more than 12 months
Further ‘Operating working capital’, ‘Net working capital’ and ‘Invested capital’ are specified on the section 3 front page.
Forward-looking statements
The annual report contains forward-looking statements, which include estimates of financial performance and targets. These
statements are not guarantees of future performance and involve certain risks and uncertainties. Therefore, actual future
results and trends may differ materially from what is forecast in this report due to a variety of factors.