FINANCIAL DATA DEFINITIONS

FINANCIAL DEFINITIONS

FINANCIAL DATA FILES

The financial data files are presented in two formats, firstly in the general Access database, and secondly, in the various spreadsheets.

In the financial tables and spreadsheets are found as F?? (the forecast balance sheets) and G?? (the forecast financial margins and ratios); where, ?? are the various forecasted financial scenarios:

FINANCIAL SCENARIOS
FILE	SCENARIO
F or G : 01	MARKETING EXPENDITURE
F or G : 02	NEW PRODUCT DEVELOPMENT
F or G : 03	MARKET SEGMENTATION
F or G : 04	NEW PLANT + EQUIPMENT INVESTMENT
F or G : 05	NEW TECHNOLOGY INVESTMENT
F or G : 06	DISTRIBUTION CHANNEL IMPROVEMENT
F or G : 07	COST STRUCTURE IMPROVEMENT
F or G : 08	SHORT-TERM PRICE CUTTING EFFECT
F or G : 09	SHORT-TERM PRICE INCREASE EFFECT
F or G : 0B	BASE FORECAST : BEST
F or G : 0M	BASE FORECAST : MEDIAN
F or G : 0W	BASE FORECAST : WORST
F or G : 10	QUALITY IMPROVEMENT
F or G : 11	EXPORT SALES IMPROVEMENT
F or G : 12	PERSONNEL + STAFF IMPROVEMENT
F or G : 13	MARKETING EXPENDITURE INCREASE : +2%
F or G : 14	MARKETING EXPENDITURE INCREASE : +4%
F or G : 15	MARKETING EXPENDITURE INCREASE : +6%
F or G : 16	MARKETING EXPENDITURE INCREASE : +8%
F or G : 17	MARKETING EXPENDITURE INCREASE : +10%
F or G : 18	MARKETING EXPENDITURE INCREASE : +12%
F or G : 19	MARKETING EXPENDITURE DECREASE : -2%
F or G : 20	MARKETING EXPENDITURE DECREASE : -4%
F or G : 21	MARKETING EXPENDITURE DECREASE : -6%
F or G : 22	MARKETING EXPENDITURE DECREASE : -8%
F or G : 23	MARKETING EXPENDITURE DECREASE : -10%
F or G : 24	MARKETING EXPENDITURE DECREASE : -12%
F or G : 25	FIXED MARKETING COST OBJECTIVES
F or G : 26	VARIABLE MARKETING COST OBJECTIVES
F or G : 27	GENERAL MARKETING PROCESS COST OBJECTIVES
F or G : 28	DISTRIBUTION & PRODUCT DELIVERY COST OBJECTIVES
F or G : 29	ADMINISTRATIVE & GENERAL EXPENSE OBJECTIVES
F or G : 30	SELLING COST OBJECTIVES
F or G : 31	ADVERTISING COST OBJECTIVES
F or G : 32	PROMOTIONAL & PRICING COST OBJECTIVES
F or G : 33	RESEARCH & PRODUCT COST OBJECTIVES
F or G : 34	MARKET SHARE BUILDING OBJECTIVES
F or G : 35	MARKET SHARE HOLDING OBJECTIVES
F or G : 36	MARKET SHARE HARVESTING OBJECTIVES
F or G : 37	SALES COST IMPROVEMENT
F or G : 38	LONG-TERM PRODUCT PRICE CUTTING
F or G : 39	LONG-TERM PRODUCT PRICE INCREASE
F or G : 40	PROMOTIONAL EXPENDITURE
F or G : 41	TARGET MARKETS DEVELOPMENT
F or G : 42	ORDER TAKING IMPROVEMENTS
F or G : 43	PRODUCT POSITIONING
F or G : 44	PRODUCT BRANDING + MULTI-BRANDING INVESTMENT
F or G : 45	CUSTOMER / ORDER PROCESSING SYSTEMS INVESTMENT
F or G : 46	SYSTEMS INVESTMENT
F or G : 47	OVERSEAS DEVELOPMENT
F or G : 48	SALES PERSONNEL + STAFF IMPROVEMENT
F or G : 49	MATERIALS & ENERGY COST SCENARIOS
F or G : 50	PAYROLL & STAFF COST SCENARIOS
F or G : 51	ADMINISTRATION COST SCENARIOS
F or G : 52	CAPITAL COST SCENARIOS
F or G : 53	PLANT & EQUIPMENT COST SCENARIOS
F or G : 54	SALES & MARKETING COST SCENARIOS
F or G : 55	NEW PRODUCT & NEW TECHNOLOGY COST SCENARIOS
F or G : 56	DEPRECIATION & CAPITALIZATION SCENARIOS
F or G : 57	SHORT TERM BORROWING SCENARIOS
F or G : 58	LONG TERM FINANCIAL SCENARIOS
F or G : 59	FINANCIAL & DEBT SERVICING COST SCENARIOS
F or G : 60	TRADING & OPERATING MARGINS & PROFITABILITY SCENARIOS
F or G : 61	PROFIT IMPACT FROM MATERIALS COST REDUCTION
F or G : 62	PROFIT IMPACT FROM PAYROLL COST REDUCTION
F or G : 63	PROFIT IMPACT FROM PROCESS COST REDUCTION
F or G : 64	PROFIT IMPACT FROM DISTRIBUTION COST REDUCTION
F or G : 65	PROFIT IMPACT FROM CUSTOMER HANDLING COST REDUCTION
F or G : 66	CAPITAL INVESTMENTS OPTIONS: PROCESS PLANT & EQUIPMENT
F or G : 67	CAPITAL INVESTMENTS OPTIONS: PREMISES
F or G : 68	CAPITAL INVESTMENTS OPTIONS: DISTRIBUTION / HANDLING
F or G : 69	CAPITAL INVESTMENTS OPTIONS: CUSTOMER HANDLING SYSTEMS
F or G : 70	PRODUCT COST IMPROVEMENTS
F or G : 71	PRODUCT QUALITY IMPROVEMENT
F or G : 72	CUSTOMER HANDLING IMPROVEMENTS
F or G : 73	NEW EQUITY SCENARIOS
F or G : 74	BANK BORROWING: BASE SCENARIOS
F or G : 75	BANK BORROWING: 3% INFLATION SCENARIOS
F or G : 76	BANK BORROWING: 6% INFLATION SCENARIOS
F or G : 77	BANK BORROWING: 9% INFLATION SCENARIOS
F or G : 78	BOND / DEBENTURES SCENARIOS
F or G : 79	CORPORATE ASSET SALES: 5% OF ASSETS SCENARIOS
F or G : 80	CORPORATE ASSET SALES: 10% OF ASSETS SCENARIOS
F or G : 81	CORPORATE ASSET SALES: 25% OF ASSETS SCENARIOS
F or G : 82	SELF GENERATED FUNDS: WORST SCENARIOS
F or G : 83	SELF GENERATED FUNDS: BEST SCENARIOS
F or G : 84	TRADING CREDIT EXTENSION & MARGIN REDUCTION SCENARIOS
F or G : 85	NEW CAPITAL SCENARIOS
F or G : 86	SHORT-TERM LOAN: BASE SCENARIOS
F or G : 87	SHORT-TERM LOAN: 3% INFLATION SCENARIOS
F or G : 88	SHORT-TERM LOAN: 6% INFLATION SCENARIOS
F or G : 89	SHORT-TERM LOAN: 9% INFLATION SCENARIOS
F or G : 90	LONG-TERM LOAN SCENARIOS
F or G : 91	FIXED ASSET SALES: 5% OF ASSETS SCENARIOS
F or G : 92	FIXED ASSET SALES: 10% OF ASSETS SCENARIOS
F or G : 93	FIXED ASSET SALES: 25% OF ASSETS SCENARIOS
F or G : 94	PROFIT IMPROVEMENTS: WORST SCENARIOS
F or G : 95	PROFIT IMPROVEMENTS: BEST SCENARIOS
F or G : 96	CREDIT EXTENSION & COST REDUCTION SCENARIOS
F or G : DB	DERIVED : BEST
F or G : DM	DERIVED : MEDIAN
F or G : DW	DERIVED : WORST
F or G : PL	PRODUCT LAUNCH

Each of the above forecast balance sheets (F??) contain the following data:

FINANCIAL BALANCE SHEETS
ID Row	TITLE	LEGEND	Field name
1	TOTAL SALES The TOTAL SALES figure given in all the Financial Scenario Forecasts are synchronized with the Median Market Forecast and not to the individual Market Scenario Forecasts. This is to ensure that users can use a standardized market measure to compare the Financial data and not have the additional complication of interpreting the financial data in relation to the market scenarios. CURRENCY DATA: The currency figures given in this report are in U.S. Dollars. If the Windows Regional Settings on your computer is set to a non-U.S. setting then the currency symbol ($) may appear in the local currency (€, £, ¥, etc.). Either reset your Regional settings, or alternatively read all currency figures in this report as being U.S. Dollars (US$).	$M	MarketDol
2	DOMESTIC SALES	% of Turnover	Domestic
3	EXPORTS	% of Turnover	Export
4	PRE-TAX PROFIT	% of Turnover	PRETAXPROFIT
5	INTEREST PAID	% of Turnover	InterestPaid
6	NON-TRADING INCOME	% of Turnover	NonTradingIncome
7	OPERATING PROFIT	% of Turnover	OPERATEPROFIT
8	DEPRECIATION: STRUCTURES	% of Turnover	DeprecBldg
9	DEPRECIATION: PLANT AND EQUIPMENT	% of Turnover	DeprecMach
10	DEPRECIATION: MISCELLANEOUS ITEMS	% of Turnover	DeprecMisc
11	TOTAL DEPRECIATION	% of Turnover	TOTDEPREC
12	TRADING PROFIT	% of Turnover	TRADINGPROFIT
13	INTANGIBLE ASSETS	% of Turnover	IntangAsset
14	INTERMEDIATE ASSETS	% of Turnover	InterMedAsset
15	FIXED ASSETS: STRUCTURES	% of Turnover	FixAssetBldg
16	FIXED ASSETS: PLANT AND EQUIPMENT	% of Turnover	FixAssetMach
17	FIXED ASSETS: MISCELLANEOUS ITEMS	% of Turnover	FixAssetMisc
18	FIXED ASSETS	% of Turnover	FIXASSET
19	CAPITAL EXPENDITURE ON STRUCTURES	% of Turnover	CapExpndBldg
20	CAPITAL EXPENDITURE ON PLANT AND EQUIPMENT	% of Turnover	CapExpndMach
21	CAPITAL EXPENDITURE ON VEHICLES	% of Turnover	CapExpndVech
22	CAPITAL EXPENDITURE ON DATA PROCESSING EQUIPMENT	% of Turnover	CapExpndDP
23	CAPITAL EXPENDITURE ON MISCELLANEOUS ITEMS	% of Turnover	CapExpndOth
24	TOTAL CAPITAL EXPENDITURE	% of Turnover	TOTCAPEXPEND
25	RETIREMENTS: STRUCTURES	% of Turnover	RetireBldg
26	RETIREMENTS: PLANT AND EQUIPMENT	% of Turnover	RetireMach
27	RETIREMENTS: MISCELLANEOUS ITEMS	% of Turnover	RetireOthr
28	TOTAL RETIREMENTS	% of Turnover	TOTRETIRE
29	TOTAL FIXED ASSETS	% of Turnover	TOTFIXASSETx
30	FINISHED PRODUCT STOCKS	% of Turnover	StockFinish
31	WORK IN PROGRESS AS STOCKS	% of Turnover	StockWork
32	MATERIALS AS STOCKS	% of Turnover	StockMat
33	TOTAL STOCKS & INVENTORY	% of Turnover	Stocks
34	DEBTORS	% of Turnover	Debtors
35	MISCELLANEOUS CURRENT ASSETS	% of Turnover	CurrentAssetsOthr
36	TOTAL CURRENT ASSETS	% of Turnover	TOTCURRENTASSET
37	TOTAL ASSETS	% of Turnover	TOTALASSETS
38	CREDITORS	% of Turnover	Creditors
39	SHORT TERM LOANS	% of Turnover	LoansShort
40	MISCELLANEOUS CURRENT LIABILITIES	% of Turnover	CurrentLiabOthr
41	TOTAL CURRENT LIABILITIES	% of Turnover	TOTCURRENTLIAB
42	NET ASSETS / CAPITAL EMPLOYED	% of Turnover	NETASSETS
43	SHAREHOLDERS FUNDS	% of Turnover	ShareholderFund
44	LONG TERM LOANS	% of Turnover	LoansLong
45	MISCELLANEOUS LONG TERM LIABILITIES	% of Turnover	LongTermLiab
46	WORKERS	persons	Workers
47	HOURS WORKED	Hours	HourWork
48	WORK IN 1ST QUARTER	% of Annual Total	WorkQ1x
49	WORK IN 2ND QUARTER	% of Annual Total	WorkQ2x
50	WORK IN 3RD QUARTER	% of Annual Total	WorkQ3x
51	WORK IN 4TH QUARTER	% of Annual Total	WorkQ4x
52	TOTAL EMPLOYEES	persons	TotEmployee
53	RAW MATERIALS COST	% of Turnover	MatCostRaw
54	FINISHED MATERIALS COST	% of Turnover	MatCostFinish
55	FUEL COST	% of Turnover	MatCostFuel
56	ELECTRICITY COST	% of Turnover	MatCostElect
57	TOTAL INPUT SUPPLIES / MATERIALS AND ENERGY COSTS	% of Turnover	TOTMATCOSTS
58	PAYROLL COSTS	% of Turnover	Payroll
59	WAGES	% of Turnover	Wages
60	DIRECTORS' REMUNERATIONS	% of Turnover	DirectorRem
61	EMPLOYEE BENEFITS	% of Turnover	Benefits
62	COMMISSIONS & INCENTIVES PAID	% of Turnover	Commissions
63	TOTAL REMUNERATIONS	% of Turnover	TOTEmpRemun
64	SUB CONTRACTORS	% of Turnover	SubContract
65	RENTAL & LEASING: STRUCTURES	% of Turnover	RentBldg
66	RENTAL & LEASING: PLANT AND EQUIPMENT	% of Turnover	RentMach
67	TOTAL RENTAL & LEASING COSTS	% of Turnover	TOTRENT
68	MAINTENANCE: STRUCTURES	% of Turnover	MaintBldg
69	MAINTENANCE: PLANT AND EQUIPMENT	% of Turnover	MaintMach
70	TOTAL MAINTENANCE COSTS	% of Turnover	TOTMAINT
71	SERVICES PURCHASED	% of Turnover	ServicePurch
72	COMMUNICATIONS COSTS	% of Turnover	Comm
73	MISCELLANEOUS EXPENSES	% of Turnover	ExpensesMisc
74	SALES PERSONNEL VARIABLE & COMMISSION COSTS	% of Turnover	SalesPersonVarCost
75	SALES EXPENSES AND COSTS	% of Turnover	SalesExpCost
76	SALES MATERIALS COSTS	% of Turnover	SalesMatCost
77	TOTAL SALES COSTS	% of Turnover	TotSalesCostX
78	DISTRIBUTION FIXED COSTS	% of Turnover	DistrFixCost
79	DISTRIBUTION VARIABLE COSTS	% of Turnover	DistrVarCost
80	WAREHOUSING FIXED COSTS	% of Turnover	WareFixCost
81	WAREHOUSING VARIABLE COSTS	% of Turnover	WareVarCost
82	PHYSICAL HANDLING FIXED COSTS	% of Turnover	HandleCost
83	PHYSICAL HANDLING VARIABLE COSTS	% of Turnover	HandleVarCost
84	PHYSICAL PROCESS FIXED COSTS	% of Turnover	PhysicalFixCost
85	PHYSICAL PROCESS VARIABLE COSTS	% of Turnover	PhysicalVarCost
86	TOTAL DISTRIBUTION AND HANDLING COSTS	% of Turnover	TOTDISTRCOSTx
87	MAILING & CORRESPONDENCE COSTS	% of Turnover	AdvMailCost
88	MEDIA ADVERTISING COSTS	% of Turnover	AdvMediaCost
89	ADVERTISING MATERIALS & PRINT COSTS	% of Turnover	AdvMatCost
90	POS & DISPLAY COSTS	% of Turnover	AdvPOSCost
91	EXHIBITION & EVENTS COSTS	% of Turnover	AdvExhibCost
92	TOTAL ADVERTISING COSTS	% of Turnover	TotAdvCostX
93	PRODUCT RETURNS & REJECTION COSTS	% of Turnover	AFSRetCost
94	PRODUCT INSTALLATION & RE-INSTALLATION COSTS	% of Turnover	AFSInstCost
95	PRODUCT BREAKDOWN & POST INSTALLATION COSTS	% of Turnover	AFSBrkCost
96	PRODUCT SYSTEMS & CONFIGURATION COSTS	% of Turnover	AFSSysCost
97	PRODUCT SERVICE & MAINTENANCE COSTS	% of Turnover	AFSSvcCost
98	CUSTOMER PROBLEM SOLVING & CUSTOMER COMPLAINT COSTS	% of Turnover	AFSProbCost
99	TOTAL AFTER-SALES COSTS	% of Turnover	TotAFSCost
100	TOTAL MARKETING COSTS	% of Turnover	TOTMKTCOSTx
101	NEW TECHNOLOGY EXPENDITURE	% of Turnover	RandDTechExpnd
102	NEW PRODUCTION TECHNOLOGY EXPENDITURE	% of Turnover	RandDProcExpnd
103	TOTAL RESEARCH AND DEVELOPMENT EXPENDITURE	% of Turnover	TOTRandDCOSTx
104	TOTAL OPERATIONAL & PROCESS COSTS	% of Turnover	TOTOperCostX
105	DEBTORS WITHIN AGREED TERMS	% of Turnover	DebtorsAgreed
106	DEBTORS OUTSIDE AGREED TERMS	% of Turnover	DebtorsNotAgreed
107	UN-RECOVERABLE DEBTS	% of Turnover	DebtorsUnRecover

Each of the above forecast financial margins and ratios (G??) contain the following data:

FINANCIAL MARGINS & RATIOS
ID ____ Row	TITLE	LEGEND	FieldName
1	RETURN ON CAPITAL	%	ReturnCapital
2	RETURN ON ASSETS	%	ReturnAssets
3	RETURN ON SHAREHOLDERS' FUNDS	%	ReturnShareFund
4	PRE-TAX PROFIT MARGINS	%	PretaxProfitMarg
5	OPERATING PROFIT MARGIN	%	OperatingProfitMarg
6	TRADING PROFIT MARGIN	%	TradingProfitMarg
7	RETURN ON INVESTMENT	%	ReturnInvestment
8	ASSETS UTILISATION	Ratio : 1	AssetsUtilisation
9	SALES : FIXED ASSETS	Ratio : 1	SalesFixedAssets
10	STOCK TURNOVER	Ratio : 1	StockTurnover
11	CREDIT PERIOD	days	CreditPeriod
12	CREDITORS' RATIO	Ratio : 1	CreditorsRatio
13	DEFAULT DEBTORS' RATIO	Ratio : 1	DefaultDebtorsRatio
14	UN-RECOVERABLE DEBT RATIO	Ratio : 1	UnRecoverDebtsRatio
15	WORKING CAPITAL / SALES	%	WorkingCapitalSales
16	MATERIALS + ENERGY COSTS / SALES	%	MaterialsEnergySales
17	ADDED VALUE	%	AddedValue
18	INVESTMENT : ADDED VALUE	RATIO : 1	InvestmentAddedValue
19	FIXED CAPITAL INTENSITY	RATIO : 1	ValuePESales
20	VERTICAL INTEGRATION	%	VerticalIntegration
21	R + D / SALES	%	RandDInvestSales
22	CAPITAL EXPENDITURE / SALES	%	CapExpendSales
23	MARKETING COSTS / SALES	%	MarketingCostSales
24	CURRENT RATIO	Ratio : 1	CurrentRatio
25	QUICK RATIO	Ratio : 1	QuickRatio
26	BORROWING RATIO	Ratio : 1	BorrowingRatio
27	EQUITY RATIO	Ratio : 1	EquityRatio
28	INCOME GEARING	%	IncomeGearing
29	TOTAL DEBT : WORKING CAPITAL	Ratio : 1	DebtWorkingCapital
30	DEBT GEARING RATIO	Ratio : 1	DebtGearingRatio
31	AVERAGE REMUNERATION	('000)	AverageRemuneration
32	PROFIT PER EMPLOYEE	('000)	ProfitEmployee
33	SALES PER EMPLOYEE	('000)	SalesEmployee
34	REMUNERATIONS / SALES	%	RemunerationsSales
35	FIXED ASSETS / EMPLOYEE	('000)	FixedAssetsEmployee
36	CAPITAL EMPLOYED / EMPLOYEE	('000)	CapitalEmployEmployee
37	TOTAL ASSETS / EMPLOYEE	('000)	TotalAssetsEmployee
38	INVESTMENT / EMPLOYEES	('000)	AverageInvestmentEmployee
39	ADDED VALUE / EMPLOYEES	('000)	ValueAddedEmployee
40	MATERIALS COSTS / SALES	%	MaterialsCostsSales
41	PAYROLL COSTS / SALES	%	PayrollSales
42	PAYROLL : MATERIALS	RATIO : 1	PayrollMaterials
43	VARIABLE COSTS / SALES	%	VariableCostsSales
44	FIXED COSTS / SALES	%	FixedCostsSales
45	FIXED COSTS : VARIABLE COSTS	RATIO : 1	FixedRatioVariableCosts
46	DISTRIBUTION COSTS / SALES	%	DistributionSales
47	WAREHOUSING COSTS / SALES	%	WarehousingSales
48	PHYSICAL COSTS / SALES	%	PhysicalCostsSales
49	FIXED : VARIABLE DISTRIBUTION COSTS	RATIO : 1	FixedVariableDistributionCosts
50	FIXED : VARIABLE WAREHOUSING COSTS	RATIO : 1	FixedVariableWarehousingCosts
51	FIXED : VARIABLE PHYSICAL COSTS	RATIO : 1	FixedVariablePhysicalCosts
52	FIXED : VARIABLE TOTAL DISTRIBUTION + HANDLING COSTS	RATIO : 1	FixedVariableTotalDistribution
53	PRODUCT RETURNS COSTS / SALES	%	ProductReturnsSales
54	PRODUCT INSTALLATION COSTS / SALES	%	ProductInstallationSales
55	PRODUCT BREAKDOWN COSTS / SALES	%	ProductBreakdownSales
56	PRODUCT SYSTEMS COSTS / SALES	%	ProductSystemsSales
57	PRODUCT SERVICE COSTS / SALES	%	ProductServiceSales
58	CUSTOMER COMPLAINT COSTS / SALES	%	CustomerComplaintSales
59	STOCK UTILISATION	RATIO : 1	StockWorkFinishedProducts
60	STOCK EFFICIENCY	RATIO : 1	StockMaterialsWorkProgress
61	DEBTOR EXPOSURE	RATIO : 1	UnDebtsRatioTotalDebt
62	DEBTOR EFFICIENCY	RATIO : 1	UnDebtsRatioAgreedTerms
63	SALES COSTS / SALES	%	SalesCostsSales
64	DISTRIBUTION COSTS / SALES	%	DistributionCostsSales
65	ADVERTISING COSTS / SALES	%	AdvertisingCostsSales
66	AFTER-SALES COSTS / SALES	%	AfterSalesCostsSales
67	CUSTOMER COMPENSATION COSTS / SALES	%	CustomerCompensationSales
68	VARIABLE MARKETING COSTS / SALES	%	VariableMarketingSales
69	FIXED MARKETING COSTS / SALES	%	FixedMarketingSales
70	FIXED MARKETING COSTS : VARIABLE MARKETING COSTS	RATIO : 1	FixedMarketingVariableMarketing
71	VARIABLE SALES COSTS : MARKETING COSTS	RATIO : 1	VariableSalesPersonnelMarketing
72	VARIABLE DISTRIBUTION COSTS : MARKETING COSTS	RATIO : 1	VariableDistributionMarketing
73	VARIABLE ADVERTISING COSTS : MARKETING COSTS	RATIO : 1	VariableAdvertisingMarketing
74	VARIABLE AFTER-SALES COSTS : MARKETING COSTS	RATIO : 1	VariableAfterSalesMarketing
75	SALES PERSONNEL VARIABLE COSTS : SALES	RATIO : 1	SalesPersonnelVariableSales
76	SALES PERSONNEL VARIABLE COSTS : DEBTORS	RATIO : 1	SalesPersonnelVariableDebtors
77	SALES PERSONNEL VARIABLE COSTS : UN-RECOVERABLE DEBTORS	RATIO : 1	SalesPersonnelVariableUnDebts
78	EXPORT / SALES	%	ExportsSales
79	AVERAGE HOURS PAY	$	HourlyPayRate
80	WAGE RATE	$	HourlyWageRate
81	CAPITAL EMPLOYED	%	CapitalEmployed

FINANCIAL DATA DEFINITIONS

Data given on:	Definition:
% OF CUSTOMERS = 50% SALES:	The best estimate of the percentage of immediate customers accounting for 50% of the sales of the business.
% SHARE OF 4 LARGEST FIRMS:	The combined market shares of the four leading firms in the industry, expressed as a percentage.
ACTUAL RETURN ON INVESTMENT:	The actual, pre-tax net income expressed as a percentage of investment for the business, used to adjust the future estimates of ROI.
ASSET UTILIZATION:	Sales as a ratio of total sales.
AVERAGE REMUNERATION:	Total employee remuneration divided by the number of employees.
BORROWING RATIO:	Total debt as a ratio of net worth.
CAPACITY UTILIZATION:	The average % percentage of standard capacity utilized during the year. Standard capacity is the sales value of the maximum output the business can sustain with a) facilities normally in operation and b) current constraints (e.g. technology, work rules, labor practices, etc.) For most manufacturing businesses this will consist of 2 shifts, 5 days per week. For process businesses a 3 shift, 6 day work week is typical.
CAPITAL EMPLOYED:	The sum of long term liabilities. It represents the counterpart of the net assets employed by the firm.
CREDIT PERIOD:	Debtors over sales times 365 days.
CREDITORS RATIO:	Creditors over sales times 365 days.
CREDITORS:	Trade creditors and bills payable within one year.
CURRENT RATIO:	Current assets as a ratio of current liabilities.
DEBT GEARING RATIO:	Long term loans as a ratio of net worth.
DEBTORS:	Trade debtors and trade bills receivable due within one year.
DEPRECIATION:	Includes amounts written off tangible fixed assets, including leased assets.
DIRECTORS REMUNERATION:	Includes all payments made to directors including pension fund contributions, ex-gratia payments and payments to directors' family.
DISCOUNT CASH FLOW YIELD RATE:	The internal rate of return after tax earned in this business when this strategy is executed. It is the time discount rate at which discounted cash flow plus residual is equal to initial investment.
DISCOUNTED CASH FLOW:	The cash generated over ten years from net income, less the cash absorbed by increases in the net investment in the business. The annual cash flows are discounted to a present value, using the time discount rate.
DISCOUNTED NET INCOME (10 YEARS):	From pre-tax net income in each year is deducted a capital charge on the increase in investment since the base period to reflect the cost of these funds. The time discount rate is then applied to obtain the present value of the income stream for the 10 year period.
DOMESTIC SALES:	Wherever applicable, domestic Sales represents the proportion of total turnover generated locally less exports produced by the same companies.
EMPLOYEES UNIONIZED:	The percentage of total employees of the business who are unionized.
EQUITY GEARING:	Shareholders funds as a ratio of total liabilities.
EXPORTS / SALES:	Exports divided by sales.
EXPORTS:	This figure will be shown where it has been disclosed.
FIFO VALUATION:	The accounting method used for inventory valuation FIFO, or another method (e.g. LIFO).
FIXED ASSETS / EMPLOYEES:	Fixed assets divided by the number of employees.
FIXED ASSETS:	Property, plant, fixtures and fittings, office equipment and motor vehicles wholly owned and shown at their written down book value.
FIXED CAPITAL INTENSITY:	Gross book value of plant and equipment expressed as a percentage of sales. Gross book value includes original value of buildings, real estate manufacturing equipment and transportation equipment.
FIXED CAPITAL INTENSITY:	The gross book value of plant and equipment, expressed as a percentage of sales.
FORECAST REAL MARKET GROWTH RATE (% / YEAR):	An estimate of the future annual real growth rate of the served market.
FORECAST SELLING GROWTH RATE (% / YEAR):	A forecast of the annual growth rate of the selling prices.
IMMEDIATE CUSTOMER FRAGMENTATION:	The proportion of the total number of immediate customers accounting for 50% of total sales, expressed as a percentage. For example, if 5 of a business's 100 immediate customers represent 50% of the business's sales, immediate customer fragmentation is 5%.
INCOME GEARING:	Interest paid as a percentage of profit before tax and before interest paid.
INDUSTRY (SIC/NAICS) GROWTH, LONG RUN:	The annual long term (10 year) growth rate of the SIC/NAICS industry in which the business is located, expressed as a percentage.
INDUSTRY CONCENTRATION RATIO:	The amount of industry shipments accounted for by the four largest firms in the industry expressed as a percentage.
INTANGIBLE ASSETS:	Non-tangible assets such as good will, trade marks, patents and copyrights owned.
INTEREST PAID:	Gross interest paid. It should be noted that many private companies either do not disclose this figure in full or aggregate short-term, long-term and hire purchase interest together.
INTERMEDIATE ASSETS:	Includes investments in subsidiary and associated companies, trade investments and other unquoted investments, insurance premiums on life policies, and Advanced Corporation Tax recoverable. In addition, amounts due from other Group companies (as necessary), associated and affiliated companies, receivable after one year and with no stated fixed repayment terms will be included. Long term portions of trade and sundry debtors will also be included, wherever they are disclosed separately in the accounts.
INVENTORY / SALES:	The sum of raw materials, work-in-process inventory and finished goods inventory (each net of reserve for losses) as a percentage of sales.
INVESTMENT / SALES:	Investment as a percentage of sales. Investment can be measured in any of the following ways: a) net book value of plant and equipment plus working capital b) equity plus long-term debt c) total assets employed minus current liabilities attributable to the business.
INVESTMENT / VALUE ADDED:	Investment expressed as a percentage of value added. Value added is adjusted for profits to minimize that portion of the relationship with ROI which is caused by under or overstated earnings.
INVESTMENT PER EMPLOYEE:	Average investment, expressed in monetary units per employee.
LONG TERM LOANS:	Includes long term portions of bank and other institutional loans, mortgages, hire purchase repayments and leasing obligations, all of which are due after on year. In addition, amounts due to other group, associated and affiliated companies payable after one year will be included.
MARKET POSITION:	A factor combining: a) MARKET SHARE: the share of the served market for the business, expressed as a percentage. b) RELATIVE MARKET SHARE: the market share of the business relative to the combined market share of the three leading competitors, expressed as a percentage. For example if ones business has 30% of the market and the three largest competitors have 20%, 10% and 10%: 30 divided by (20+10+10) = 75%.
MARKET SHARE GROWTH RATE:	The annual growth rate of market share expressed as a percentage.
MARKET SHARE INSTABILITY:	The instability of the market share of the business, measured as the sum of the absolute values of the business's annual market share changes.
MARKET SHARE:	The share of the served market expressed as a percentage.
MARKETING EXPENSES / SALES:	The sum of salesforce, advertising, promotion and other marketing expenses expressed as a percentage of sales. Does not include costs of physical distribution.
MISCELLANEOUS CURRENT ASSETS:	Cash and near cash items such as quoted investments and tax reserve certificates. In addition, sundry debtors, prepayments and accrued income due within one year, as well as amounts due from other group companies, associated and affiliated companies receivable within one year.
MISCELLANEOUS CURRENT LIABILITIES:	Sundry creditors, accrued expenses and prepaid income including dividends, corporation tax, social security and other sundry amounts payable within one year.
MISCELLANEOUS LONG TERM LIABILITIES:	Deferred and future taxation, minority interests, pension funds and similar liabilities, provisions for liabilities and charges due.
NET ASSETS:	The net assets employed are obtained by subtracting total current liabilities from the total assets.
NET WORTH:	Equals shareholders funds less the intangible assets.
NEW PRODUCT SALES / SALES:	Percentage of sales accounted for by new products. New products are those products introduced during the three preceding years.
NEWNESS OF PLANT & EQUIPMENT (NBV / GBV):	Newness of plant and equipment, measured as the ratio of Net Book Value to Gross Book Value.
NON-TRADING INCOME:	Comprises Investment income received, such as income from quoted & unquoted investments, rents received, share of profit from associated companies; as well as Reserves adjustments, such as transfers from capital grant reserve, interest relief grants.
NUMBER OF EMPLOYEES AND THEIR REMUNERATION:	The average number of employees together with their aggregate wages and salaries.
OPERATING PROFIT MARGIN:	Operating profit as a percentage of sales.
OPERATING PROFIT:	Pre-tax profit plus interest, less non-trading income.
PRE-TAX PROFIT MARGIN:	Pre-tax profits as a percentage of sales.
PRE-TAX PROFIT:	The net trading profit figure declared after deducting all operating expenses including depreciation and finance charges but before deduction of tax, dividends, subventions or group relief and other appropriations. Consolidated data is included where applicable in respect of the share of profits and losses of associated companies. Items described by the company as exceptional are included. Those described as extraordinary items are excluded.
PROFIT / EMPLOYEES:	Profit before tax divided by the number of employees.
PURCHASE AMOUNT IMMEDIATE CUSTOMERS:	The typical amount of products or services bought by an immediate customer in a single transaction.
QUICK RATIO:	Current assets less stocks as a ratio of current liabilities.
RESEARCH & DEVELOPMENT EXPENSES / SALES:	Product or Service R & D expenses plus Process R & D expenses expressed as a percentage of sales. Product or Service R&D expenses include all expenses incurred to secure innovation and advances in the products or services of the business, include improvements in packaging as well as product design, features and functions. Process R & D expenses include all expenses for process improvements for the purpose of reducing the cost of manufacturing, processing and physical handling of goods by the business. Sales is the net sales billed including lease revenues of the business.
REAL MARKET GROWTH, SHORT-RUN:	The annual growth rate of the size of served market, deflated by the selling price index, expressed as a percentage.
REAL MARKET GROWTH RATE:	The historical annual real (unit) growth rate of the market which the business serves, expressed as a percentage.
RELATIVE COMPENSATION:	The average of hourly wage rates relative to leading competitors and salary levels relative to competitors. Competitors' wage rates and salary levels are 100%; if ones wage rates and salary levels are 5% higher, ones relative hourly wage rates are 105%, relative salaries are 105%, and ones average relative compensation is 105%.
RELATIVE INTEGRATION BACKWARD:	The degree of backward vertical integration (i.e. toward suppliers) of the business relative to its leading competitors.
RELATIVE INTEGRATION FORWARD:	The degree of forward vertical integration (i.e. toward customers) of the business relative to its leading competitors (less than, the same as, more than).
RELATIVE MARKET SHARE:	The market share of the business, relative to the combined market shares of the three leading competitors, expressed as a percentage.
RELATIVE PRICE:	The average level of selling prices of the products and service of the business relative to the average level of the leading competitors. The average price of the competitors is 100%; if the average prices of the business are 5% higher when its price relative to competition is 105%.
RELATIVE PRODUCT QUALITY:	The percentage of sales volume from products and service that, from the perspective of the consumer, are judged as superior to those available from leading competitors minus the percentage judged as inferior.
RETURN ON ASSETS:	Pre-tax profits as a percentage of total assets.
RETURN ON CAPITAL:	Pre-tax profits as a percentage of capital employed.
RETURN ON SHAREHOLDERS FUNDS:	Pre-tax profits as a percentage of shareholders funds.
ROI = NET INCOME / INVESTMENT:	Pre-tax net income, including special non-recurring costs, minus corporate overhead costs, as a percentage of average investment including fixed and working capital at book value, but excluding corporate investment not particular to the business.
SALES / EMPLOYEES:	Sales divided by the number of employees.
SALES / FIXED ASSETS:	Sales as a ratio of fixed assets.
SALES:	Gross turnover recorded, including overseas sales, inter-group sales and exports, but excluding Value Added Tax or Sales Tax.
SALES:	The net sales billed, including lease revenues.
SELLING PRICE GROWTH RATE:	The annual growth rate of selling prices charged by the business, expressed as a percentage.
SHAREHOLDERS FUNDS:	The sum of issued, ordinary, and preference share capital, all reserves, the profit and loss balance (retained profits) and government grants.
SHORT TERM LOANS:	Includes short term portions of bank and other institutions, loans, bank overdrafts, hire purchase repayments and leasing obligations, all of which are due within one year. In addition amounts due to other group, associated and affiliated companies payable within one year will be included.
STANDARD PRODUCTS / SERVICES:	The products or services of the business more or less standardized for all customers, or are they designed or produced to order for individual customers.
STOCK TURNOVER:	Sales as a ratio of stocks.
STOCKS:	Stocks and work in progress (net of progress repayments) held.
TOTAL CURRENT ASSETS:	The sum of stocks, debtors and other current assets, representing the portion of a company's assets which is realizable within a year.
TOTAL CURRENT LIABILITIES:	The sum of trade creditors, short term debt and other current liabilities.
TOTAL DEBT / WORKING CAPITAL:	Total debt as a ratio of working capital.
TOTAL DEBT:	This amount is obtained by adding short term loans to the long term loans.
TOTAL LIABILITIES:	The sum of capital employed and total current liabilities.
TRADING PROFIT MARGIN:	Trading profit as a percentage of sales.
TRADING PROFIT:	Operating profit plus depreciation.
VALUE ADDED / EMPLOYEES:	Value added (adjusted for profits) expressed in monetary terms per employee.
VERTICAL INTEGRATION:	Value added as a percentage of sales. Both value added and sales are adjusted for profits to minimize that portion of the relationship with ROI which is caused by under or overstated earnings.
WAGES / SALES:	Employee remuneration divided by sales.
WORKING CAPITAL / SALES:	Working capital over sales.
WORKING CAPITAL:	The short-term funding to carry out day to day trading activities, it is obtained by subtracting total current liabilities from the current assets.

HISTORIC AND FORECAST FINANCIAL DATA TRANSITION PERIODS

The HISTORIC DATA covers the years from 1997 to Current, and the initial FORECAST DATA series covers the years Current to 2028. There is always a transition period; which is in fact during the last two quarters, i.e. whilst the historic data is being collated. In addition the data given for the next two quarters is considered an estimate rather than a forecast. Thus the 12 month period around the database output date is an estimate.

In terms of the various Financial Scenarios it must be assumed that the Scenario factor or strategy being considered will not exert an impact on the forecast immediately and will not become evident for some time after its inception. Whilst the forecasting models used operates on a monthly time scale and does also take account of other temporal factors (for example seasonality of demand, industry accounting periods, stock taking scheduling, et al) it would be too pedantic to express the transition year in greater detail. Therefore in the forecast data a straight line plot is produced between the BASE year (Current), through the transition period (Year +1) to the first forecast year (Year +2). [Users of the more detailed editions of this database will have forecasts on a monthly time series and thus these users will have a monthly, seasonally adjusted plot and not a straight line plot during the transition period.]