DuluxGroup Financial Performance Update
Definitions
Operating cash flow is calculated as EBITDA (before standalone costs), add/less
movements in working capital and other non cash items, and is prior to income tax,
interest paid and standalone costs in 2011 to enable a like-for-like comparison.
Recordable Injury Rate is calculated as the number of injuries and illnesses per 200,000
hours worked.
Rolling TWC to sales is calculated as a 12 month rolling average trade working capital, as
a percentage of annual sales.
Net Debt: EBITDA is calculated by using period end net debt, as a percentage of annual
EBITDA.
Interest cover is calculated using EBIT, as a percentage of net interest expense.
Cash conversion is calculated as EBITDA (before standalone costs) add/less movement
in working capital and other non cash items, less sustenance capital spend, as a
percentage of EBITDA (before standalone costs).
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