ArcelorMittal South Africa Annual Report 2009
• Diluted earnings basis
Earnings attributable to ordinary shareholders
dividedby the weighted average number
ofordinary shares in issue during the year
increasedby the number of additional
ordinary shares that would have been
outstanding assuming the conversion of all
dilutive potential ordinary shares.
EBITDA margin
Earnings before interest, taxation, depreciation
and amortisation as a percentage of revenue.
Financial cost cover
Net operating profit divided by net financing
costs.
Financial gearing (debt-equity ratio)
Interest-bearing debt less cash and cash
equivalents as a percentage of total shareholders
equity.
Headline earnings yield
Headline earnings per ordinary share divided by
the year-end share price
Invested capital
Netequity, borrowings and other payables,
financelease obligations, non-current provisions
and deferred taxation less cash and cash
equivalents.
Definitions
Cash and cash equivalents
Cash and cash equivalents include cash on hand, deposits held at call
with banks, and other short-term highly liquid investments with original
maturities of three months or less, which are subject to an insignificant
risk of changes in value.
Current ratio
Current assets divided by current liabilities. Current liabilities include
short - term borrowings and interest-free liabilities other than deferred
taxation.
Dividend cover
Headline earnings per ordinary share divided by dividends per ordinary
share.
Dividend yield
Dividends per ordinary share divided by the year-end share price at the
JSE Limited.
Earnings per ordinary share
• Attributable earnings basis
Basic earnings attributable to ordinary shareholders divided by the
weighted average number of ordinary shares in issue during the
year.
• Headline earnings basis
Earnings attributable to ordinary shareholders adjusted for profits
or losses on items of a capital nature recognising the taxation and
minority impacts on these adjustments divided by the weighted
average number of ordinary shares in issue during the year.
Supplementary information