Definition of Non-IFRS financial measures
Background on using non-IFRS financial key figures
Belships consolidated financial information is prepared in accordance with the International Financial Reporting Standards as adopted by the EU (“IFRS”). In addition, it is Managements’s intention to provide additional performance measures when this is deemed relevant for understanding of the financial performance.
In the context of its standard and mandatory reporting, Belships ASA employs Alternative Performance Measures (APMs), which are not defined within the IFRS framework and which are published as non-IFRS financial key figures.
On the one hand, Belships ASA uses these non-IFRS financial key figures as major performance indicators for internal group controlling as well as for variable management compensation. On the other hand, these financial figures aim at increasing comparability with other companies and it is Managements experience that these measures are frequently used by equity investors, analysts and other stakeholders.
Non-IFRS financial key figures serve as additional information as presented in the consolidated financial statement in accordance with IFRS financial figures.
Definition of non-IFRS financial key figures applied:
is defined as total current assets, divided by total current liabilities
is defined as operating result adjusted for depreciation and amortization, other gains/(losses), interest income, interest expenses and other financial items
is defined as result before tax adjusted for interest income, interest expenses and other financial items
is equal to shareholders’ equity including non-controlling interest, divided by total assets
Interest Coverage Ratio
is equal to earnings before interest and taxes (EBIT), divided by interest expenses