GLOSSARY
GLOSSARY
Affiliated store
American Depositary Receipt
(ADR)
American Depositary Share
(ADS)
Average shareholders' equity
Basic earnings per share
Company-operated store
Comparable store sales
Cost of sales
Delhaize Belgium
Diluted earnings per share
Direct goods
Enterprise value
Free cash flow
Gross margin
Indirect goods
Net debt
Net debt to equity ratio
Net financial expenses
Net margin
A store operated by an independ
ent retailer to whom Delhaize Group
sells its products at wholesale
prices and who benefits from the
trade name and knowhow of Del-
haize Group.
An American Depositary Receipt
evidences an American Depositary
Share (ADS).
An American Depositary Share rep
resents ownership in the common
shares of a non-U.S. corporation.
The underlying common shares are
held by a U.S. bank as depositary
agent. The holder of an ADS benefits
from dividend and voting rights per
taining to the underlying common
share through the bank that issued
the ADS. Each Delhaize Group ADS
represents one share of Delhaize
Group common stock and is traded
on the New York Stock Exchange.
Shareholders' equity at the begin
ning of the year plus shareholders'
equity at the end of the year, divided
by two.
Profit or loss attributable to ordinary
equity holders of the parent entity
divided by the weighted average
number of ordinary shares out
standing during the period. Basic
earnings per share are calculated
on profit from continuing operations
less minority interests attributable to
continuing operations, and on the
Group share in net profit.
A store operated directly by Del-
haize Group.
Sales from the same stores, includ
ing relocations and expansions, and
adjusted for calendar effects.
Cost of sales includes purchases of
products sold and all costs associ
ated with getting the products into
the retail stores, including buying,
warehousing and transportation
costs. Finally, Cost of Sales includes
appropriate vendor allowances.
Delhaize Belgium is not a separate
legal entity. In the consolidated
financial statements, any reference
to "Delhaize Belgium" is a reference
to the consolidation of the statutory
accounts of the Belgian companies,
of which the major ones are Del-
haize Group SA, Delimmo SA, Del
home SA, Aniserco SA, Points Plus
Punten SA, Wambacq Peeters
SA, Wintrucks SA and the compa
nies acquired as part of the Cash
Fresh acquisition (see Note 36 to the
Financial Statements), excluding cor
porate expenses. In the remainder
of the document, "Delhaize Belgium"
refers to the operations of Delhaize
Group in Belgium, the Grand-Duchy
of Luxembourg and France.
Calculated by adjusting the profit or
loss attributable to ordinary equity
shareholders and the weighted
average number of shares out
standing for the effects of all dilutive
potential ordinary shares, includ
ing those related to convertible
instruments, options or warrants
or shares issued upon the satisfac
tion of specified conditions. Diluted
earnings per share are calculated
on profit from continuing operations
less minority interests attributable to
continuing operations, and on the
Group share in net profit.
Goods sold to customers.
EBITDA
Operating profit plus depreciation,
amortization and impairment.
Market capitalization plus net debt.
Cash flow before financing activities,
investment in debt securities and
sale and maturity of debt securities.
Gross profit divided by revenues.
Gross profit
Revenues minus cost of sales.
Goods necessary to operate the
business, but which are not sold to
customers, such as office and store
equipment.
Non-current financial liabilities,
plus current financial liabilities and
derivatives liabilities, minus deriva
tive assets, investments in securities,
and cash and cash equivalents.
Net debt divided by total equity.
Finance costs less income from
investments.
Net profit attributed to equity holders
of the Group divided by revenues.
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