FINANCIAL DEFINITIONS

 

Adjusted earnings

Earnings as adjusted for exceptional items

Company

C&C Group plc

Constant Currency

Prior year revenue, net revenue and operating profit for each of the Group’s operating segments is restated to constant exchange rates for transactions by subsidiary undertakings in currencies other than their functional currency and for translation in relation to the Group’s non-euro denominated subsidiaries by revaluing the prior year figures using the current year effective foreign currency rates

DWT

Dividend withholding tax

EBITDA

Earnings before Interest, Tax, Depreciation and Amortisation charges

Adjusted EBITDA

EBITDA as adjusted for exceptional items

EBIT

Earnings before Interest and Tax

Effective tax rate (%)

Income and deferred tax charges relating to continuing activities before the tax impact of exceptional items calculated as a percentage of Profit before tax for continuing activities before exceptional items.

EPS

Earnings per Share

EU

European Union

Exceptional

Significant items of income and expense within Group results for the year

Free cash flow

Free Cash Flow is a non-GAAP measure that comprises cash flow from operating activities net of capital investment cash outflows which form part of investing activities. Free Cash Flow highlights the underlying cash generating performance of the ongoing business

GB

Great Britain (i.e. England, Wales and Scotland)

Group

C&C Group plc and its subsidiaries

HL

Hectolitre (100 Litres)

kHl = kilo hectolitre (100,000 litres)

mHl = millions of hectolitres

(100 million litres)

IAS

International Accounting Standards

IASB

International Accounting Standards Board

IFRIC

International Financial Reporting Interpretations Committee

IFRS

International Financial Reporting Standards as adopted by the EU

Interest cover

Calculated by dividing the Group’s earnings before interest, tax, depreciation and amortisation charges (EBITDA) excluding exceptional items and discontinued activities of one period by the Group’s interest expense, excluding issue cost write-offs and unwind of discounts on provisions, of the same period

International

Sales in territories outside of the United Kingdom (UK) and Republic of Ireland (ROI)

LAD

Long Alcoholic Drinks

Net debt/(cash)

Net debt/(cash) comprises cash, borrowings net of issue costs

Net debt:EBITDA

A measurement of leverage, calculated as the Group’s interest-bearing liabilities and derivative financial liabilities less cash & cash equivalents, divided by its EBITDA excluding exceptional items and discontinued activities. The net debt to EBITDA ratio is a debt ratio that shows how many years it would take for the Group to pay back its debt if net debt and EBITDA are held constant

Net revenue

Net revenue is defined by the Group as Revenue less Excise duty. Excise duties, which represent a significant proportion of Revenue, are set by external regulators over which the Group has no control and are generally passed on to the consumer, consequently the Directors consider that the disclosure of Net Revenue enhances the transparency and provides a more meaningful analysis of underlying sales performance

NI

Northern Ireland

Off-trade

All venues where drinks are sold for off-premise consumption including shops, supermarkets and cash & carry outlets selling alcohol for consumption off the premises

On-trade

All venues where drinks are sold at retail for on-premise consumption including pubs, hotels and clubs selling alcohol for consumption on the premises

Revenue

Revenue comprises the fair value of goods supplied to external customers exclusive of intercompany sales and value added tax, after allowing for discounts, rebates, allowances for customer loyalty and other pricing related allowances and incentives

ROI

Republic of Ireland

TSR

Total Shareholder Return

UK

United Kingdom (Great Britain and Northern Ireland)

US

United States of America

(back to top)