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Key metrics definitions

Nobina applies the ESMA’s guidelines for APMs (alternative performance measures) and is of the opinion that the performance measures provide valuable and significant information for investors and company management. Financial non-IFRS measures are subject to limitations as analytical tools and should not be regarded as isolated or as replacements for financial measures prepared pursuant to IFRS. Financial non-IFRS measures are reported in order to improve the investors’ valuation of the company’s results from operations and position.The financial non-IFRS measures presented in this report can differ from similar measures used by other companies.

EBITDA Operating profit before net financial items, tax, depreciation, amortisation, earnings from sale of non-current assets.

EBITDA margin EBITDA in relation to net sales.

EBITA Earnings before interest, tax and amortisation of intangible assets and adjusted for fair value of conditional acquisition not paid and acquisition-related income and costs.

EBITA margin EBITA in relation to net sales.

EBIT Operating profit before net financial items and taxes.

EBIT margin EBIT in relation to net sales.

EBT Operating profit before tax.

EBT margin EBT in relation to net sales.

EBT adjusted Operating profit before tax adjusted for amortisation of intangible assets and adjusted for fair value of conditional acquisition not paid and acquisition-related income and costs.

EBT, adjusted margin EBT adjusted in relation to net sales.

Acquisition-related income and costs Adjustments of fair value of contingent considerations not paid and acquisitions-related costs. Acquisitions-related costs includes due diligence costs, legal transaction costs, etc. for ongoing, completed and continuing acquisitions.

Items affecting comparability  Items affecting comparability include events and transactions, the effect of which on earnings is important to report when analysing profit for the period compared with previous periods.

Interest-bearing liabilities  Interest-bearing non-current and current liabilities (external loans, pension liabilities and right-of-use liabilities).

Net debt Interest-bearing non-current and current liabilities (external loans, pension liabilities and right-of-useiabilities) after deducting cash and cash equivalents.

Net debt/EBITDA Interest-bearing non-current and current liabilities (external loans, pension liabilities and right-of-use liabilities) after deducting cash and cash equivalents in relation to full-year EBITDA.

Renewal rate All won tenders/All own announced tenders.

Retention rate Defended tenders/Own announced tenders.

Average number of employees (FTEs) The number of hours paid divided by normal working hours for a full-time employee.

Cash investments Cost of investments in non-current assets less loan-financed investments.

Reallocation rate Number of buses allocated to a new contract during the year/Total number of buses.

Earnings per share Profit for the period divided by average number of shares.

Earnings per share after full dilution Profit for the period divided by average number of shares after full dilution.

Dividend per share Dividend amount divided by average number of shares after full dilution.

Shareholders’ equity per ordinary share Shareholders’ equity per ordinary share as per the balance-sheet date.

Dividend yield Dividend in relation to the company’s share price as per the balance-sheet date.

Equity/assets ratio Equity in relation to total assets at the end of the period.

Contract length A publicly tendered contract concluded for the provision of transport services between a client and a public transport company. The duration of the contract is typically five to ten years, with the option of extending for an additional one or two years. It is based on either a production or an incentive contract.

Production hours Number of hours produced as part of a contract.
Production kilometres Total number of kilometres produced as part of a contract.

Number of buses The number of buses that are owned on finance or operating leases or rented on a short-term basis at the end of the year.

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