Glossary

Financial terms

Defined benefit pension obligation relating to the pension entitlements of active and former employees, including probable future changes to pensions and salaries, earned and measured as of the reporting date.

Financial instruments traditionally used to hedge existing investments or obligations.

Average net non-current assets (intangible assets, property, plant and equipment, investment property) + average net current assets (inventories + trade receivables – trade liabilities).

Financial debt (pension provisions + non-current and current liabilities to related parties + non-current and current financial liabilities – cash, cash equivalents, short-term deposits and receivables from HGV [cash pooling]) / EBITDA.

Earnings before interest and taxes.

Earnings before interest, taxes, depreciation and amortisation.

Earnings before tax.

Equity / balance sheet total.

Proportionate profit after tax attributable to a joint venture or an associated company, reported in the income statement under financial income.

Interest income – interest expenses +/– earnings from companies accounted for using the equity method +/– other financial result.

International Accounting Standards.

International Financial Reporting Standards.

Assessment of an asset’s value in accordance with IFRS.

Payments for investments in property, plant and equipment, investment property and intangible assets.

Expenses associated with the use of funds as equity or borrowed capital.

According to literature on IFRS key figures: EBIT – taxes + depreciation and amortisation – write-backs +/– changes in non-current provisions (excl. interest portion) +/– gain/loss on the disposal of property, plant and equipment + changes in working capital.

EBIT / Average operating assets.

A rule of economics which says that higher production quantities go hand in hand with lower unit costs.

Revenue from sales or lettings and from services rendered, less sales deductions and VAT.

Production value – intermediate inputs (cost of materials, depreciation and amortisation, and other operating expenses); the value added generated is shared between the HHLA Group’s stakeholders, such as employees, shareholders, lenders and the local community.