Glossary

  • Autoorder

    A store restocking automation system.

  • Average number of employees during the year

    Total number of hours worked divided by the number of hours worked per year (1,920 hours).

  • Azo dyes

    Synthetic pigments. See www.foodinfo.net for more information about azo dyes.

  • BRC

    British Retail Consortium. A global trade organisation aimed at ensuring safe products, with a focus on packaging, distribution and storage. See www.brc.org.uk for more information.

  • Capital employed

    Total assets less noninterest-bearing liabilities and noninterest- bearing provisions. Average capital employed is calculated as capital employed at the start of the year plus capital employed at the end of the year, divided by two.

  • Cash flow per share

    Cash flow for the year divided by a weighted average number of shares outstanding. For cash flow per share after the dilutive effect see "Earnings per share after dilution" below.

  • Code of conduct

    Axfood’s Code of Conduct, based on EU conventions that address areas such as the rights of children and workers.

  • Debt-equity ratio

    Interest-bearing liabilities divided by shareholders' equity including minority interests.

  • Delivery reliability

    The share of delivered goods in relation to the share of ordered goods.

  • Dividend yield

    Dividend per share divided by the year-end share price.

  • Earnings per share

    Majority owner's share of net profit for the year divided by a weighted average number of shares outstanding.

  • Earnings per share after dilution

    Majority owner's share of net profit for the year after tax, adjusted for interest expenses after taxes pertaining to outstanding convertibles, divided by a weighted average number of common shares adjusted for the dilutive effect of convertibles. The dilutive effect of convertibles consists of the number of shares that would be issued upon full conversion.

  • EFSIS

    EFSIS (European Food Safety Inspection Service) is one of the world’s leading inspection bodies, carrying out certification of food companies in line with internationally recognised standards. Follow the link to www.efsis.com for more information.

  • E-learning

    An interactive training program.

  • EMAB

    EMAB is collaborative organization for independent service station stores, with approximately 400 members within the Shell, Statoil 123, Hydro, Bilisten and Preem service station chains.

  • EMV

    Private brands.

  • Equity ratio

    Shareholders' equity including minority interests, as a percentage of total assets.

  • GFSI

    Global Food Safety Initiative. Sub-organisation of the global food business forum CIES. It works to improve food safety for consumers. Follow the link to GFSI for more information.

  • GMO

    Genetically modified organisms. Regulated by the EU, based around protecting human and animal health. See Human Genome Project for more information.

  • GRI

    Global Reporting Initiative.

  • HACCP

    Hazard Analysis and Critical Control Points. HACCP is a system for identifying, assessing and controlling any dangers in production. Follow the link to the American food and drug administration for more information.

  • IFS International

    The International Food Standard gives a reliable assessment of food safety and quality. See www.ifs-online.eu for more information.

  • ILO

    International Labour Organization. The task of this UN body is to ensure that people work under tolerable conditions. See www.ilo.org for more information.

  • Interest cover ratio

    Profit after financial items plus financial expenses, divided by financial expenses.

  • ISO 9000

    International Standard Organisation. An international quality management system. See ISO 9000 for more information.

  • Like-for-like sales

    Like-for-like sales refer to store sales reported on the basis of an entire comparison period, i.e., both years.

  • Margin after financial items

    Profit after financial items as a percentage of net sales for the year.

  • Net asset value per share

    Shareholders' equity divided by the number of shares outstanding. For net asset value per share after the dilutive effect, see "Earnings per share after dilution" above.

  • Net debt

    Cash and cash equivalents plus interest-bearing receivables less interest-bearing liabilities and provisions.

  • Net debt-equity ratio

    Interest-bearing liabilities and provisions less cash and cash equivalents and interest-bearing receivables, divided by shareholders' equity including minority interests.

  • Operating margin

    Operating profit as a percentage of net sales for the year.

  • P/E multiple after dilution

    Share price in relation to earnings per share after dilution.

  • P/E multiple before dilution

    Share price in relation to earnings per share.

  • Packers brand

    Products produced under the manufacturer’s brand but that Axfood has exclusive rights to sell on the Swedish market.

  • Return on capital employed

    Profit after financial items, plus financial expenses, as a percentage of average capital employed.

  • Return on shareholders' equity

    Majority owner's share of net profit for the year as a percentage of the majority owner's share of average shareholders' equity. Average shareholders' equity is calculated as shareholders' equity at the start of the year plus shareholders' equity at the end of the year, divided by two.

  • SA 8000

    Social Accountability. International standard for working conditions around the globe. Follow the link to SA 8000 for more information.

  • SRS

    Swedish Return System. A deposit-based return system for boxes and pallets in the swedish food retail industry.

  • Sär-när

    Food for special nutritional purposes. Products adapted for allergy suffers and those with a hypersensitivity to food.

Latest update: 6/10/2010 2:53 PM

Share