Glossary of terms

 

Net asset value per share

 

Equity attributable to owners of Motus divided by total ordinary shares in issue net of shares repurchased.

 

Tangible net asset value per ordinary share

 

Equity attributable to owners of Motus less goodwill and other intangible assets divided by total ordinary shares in issue net of shares repurchased.

 

Debt

 

The aggregate of interest-bearing debt (including floorplans and lease liabilities in terms of IFRS 16) less cash resources.

 

Core debt

 

The aggregate of interest-bearing debt (excluding the lease liabilities in terms of IFRS 16 and floorplans from financial institutions) less cash resources.

 

Net debt

 

The aggregate of interest-bearing debt (excluding the lease liabilities in terms of IFRS 16) less cash resources.

 

Net capital expenditure

 

Includes expansion and net replacement expenditure of property, plant and equipment, investment properties, intangible assets and vehicles for hire.

 

Net working capital

 

Inventories plus trade and other receivables (including derivative assets) less trade and other payables (including derivative liabilities) and total provisions.

 

Operating assets

 

Total assets less loans receivable, cash and cash equivalents, tax assets, and assets classified as held-for-sale.

 

Operating liabilities

 

Total liabilities less interest-bearing borrowings, tax liabilities and liabilities classified as held-for-sale.

 

EBITDA

 

Earnings before interest, tax, depreciation and amortisation.

 

Operating profit margin (%)

 

Operating profit divided by revenue.

 

Non-trading items

 

Impairment of goodwill and other intangibles and profit or loss on the sale of investments in subsidiaries, associates and joint ventures and other businesses.

 

Return on invested capital (%)

 

The return divided by invested capital.

The return is calculated by reducing the operating profit by a blended tax rate, which is an average of the actual tax rates applicable in the various jurisdictions in which the Group operates, increased by the share of result of associates and joint ventures.

Invested capital is an average of total equity plus interest-bearing borrowings less cash resources for the financial period.

 

Weighted average cost of capital (WACC) (%)

 

Is calculated by multiplying the cost of each capital component by its proportional weight, therefore: WACC = (after tax cost of debt % multiplied by average debt weighting) + (cost of equity multiplied by average equity weighting). The cost of equity is blended recognising the cost of equity in the different jurisdictions in which the Group operates.