Operating income The profit before tax, interests and before extraordinary income and income from participations and associated companies.
Operating income before depreciation (and amortisation) = OIBD Operating income plus depreciation and amortisation of tangible and intangible assets.
Option right The right to buy or sell shares at a certain time for a price (basic price) previously agreed upon. The vesting of the right is ensured through the option warrant, also called option. The value of an option is the result of the intrinsic value plus the current value. The intrinsic value of a call-option is equivalent to the positive difference between the share price and the purchase price of the intrinsic value, thus including a value of zero. The current market price is the result of the expectations of the market participants with respect to the price development of the intrinsic value up to the expiry of the option period.
Outside capital The sum of all liabilities of a company minus the shareholders' equity, possibly corrected by value adjustments. According to the term, one makes a difference between short-term outside capital (e.g. bank loans, liabilities on bills and liabilities on deliveries and rendered services) and long-term outside capital (e.g. loans, long-term credits).
PCR (price-cash flow ratio)
Share price divided by the proportionate cash flow per share. Key figure to assess the financial strength and profitability of a company.
PER (price-earnings ratio)
The PER is equivalent to the quotient of the current share price and the earnings per share. The PER reflects the expectations of the investors with respect to the future income growth.
Performance The further development of securities and shares. The performance is the result of the price development, payment of dividends and subscription rights during capital increases. It is indicated in percent in relation to a certain point of time.
Price of issue The price at which a share is issued by the public limited company during an capital increase or a going-public.
Put option Selling option. The right to sell securities and shares at a set price (basic price) at a fixed point of time.
Quarterly reporting
Quarterly presentation of interim reports on the business and income development of a company. Since 2001, Deutsche Börse AG as been requesting a corresponding report also from companies belonging to the German MDAX. HeidelbergCement presents its quarterly reports in accordance with the specifications of the IAS (see IAS).
Rating
Standardised key figure to assess and rank the financial standing of a company. The analyses on which the rating is based are carried out by specialised companies such as Standard & Poors and Moody's.
Return on shareholders’ equity
Proportion of the profit for the financial year vis-à-vis the deployed shareholders’ equity as shown in the balance sheet. Also called Return on equity (ROE).