Glossary
Antitrust approval Official approval from competition authorities to carry out mergers, takeovers, or cooperations in order to prevent market-dominating positions and restrictions of competition.
Cash flow Positive or negative surplus cash arising from commercial activity, measured over a certain period. Cash flow can be used to evaluate how financially strong a company is.
Cash flow from operating activities Describes the liquid funds generated by the business activity in a given period. The operating cash flow includes the net income for the year, changes in depreciation, amortization, provisions and current assets.
Closing The completion of a business transaction, especially in the case of mergers, takeovers, contract conclusions, through the final signature and implementation of the agreement.
Combined heat and power (CHP) The simultaneous generation of mechanical energy and usable heat produced in a joint thermodynamic process. The mechanical energy is usually converted directly into electrical power. The heat is used for heating purposes. The advantage of CHP is the reduced fuel requirement for simultaneous electricity and heat production, which greatly reduces greenhouse gas emissions. CHP can be used with almost any fuel and heat source.
Domestic consumption The consumption of goods and services within a country or a region, not involving foreign trade (export and import).
EBIT Earnings Before Interests and Taxes A company’s operating results before interest and taxes are taken into account.
EBIT margin Indicates EBIT in relation to revenue.
EBITDA Earnings Before Interests and Taxes, Depreciations and Amortisation A company’s operating results before interest, taxes, depreciation and amortisation are taken into account. EBITDA is one of the most meaningful figures in evaluating a company’s earning power.
EBITDA margin Indicates EBITDA in relation to revenue.
Edging technology Procedures and techniques for processing, finishing, or sealing edges with materials such as wood, glass, or metal, to improve their functionality and aesthetics.
Equity ratio Indicates the shareholders’ equity in relation to total capital. It is used to assess a company’s financial capacity and stability. If the equity ratio is high, you can assume that the company is less dependent on third-party funds.
Free cash flow The operating cash flow minus cash flow from investing activities; illustrates how much cash remains free for shareholder dividends and / or any repayment of debt financing that may be required.
Market capitalisation A company’s stock market value. It is calculated using the number of shares x the current share price.
Net debt The total that remains when cash and cash equivalents are deducted from non-current liabilities. This expresses how much money would be needed to repay loans if the liquid assets were already used up and the company had to liquidate fixed and current assets.
Pro forma consolidation Financial representation of a company that shows a hypothetical consolidation (inclusion) of subsidiaries or acquisitions as if these were already completely integrated at the time of reporting or throughout the entire reporting period.
Project business Distribution channel through which building contractors directly negotiate and place orders with manufacturers for individual (construction) projects with large order volumes.
Volume-weighted average price (VWAP) Indicates the volume-weighted average price of a security in a given period.