Invested capital	Intangible assets, property, plant and equipment, inventories and receivables excluding provisions (deferred tax excluded), trade payables, other payables and minorities
EBITA margin - %	Operating profit before amortization of goodwill x 100/Revenue
EBIT margin - %	Operating profit x 100/Revenue
Net asset value per share	Equity at year-end/Number of shares at year-end
ROAIC - %	Return on average invested capital (Operating profit x 100/Average invested capital)
Pay-out ratio - %	Dividend declared x 100/Net profit/(loss) for the year
Earnings per share (EPS)	Net profit/(loss) for the year excluding extraordinary expenses/Average number of shares
Cash flow per share (CFPS)	Cash flow from operating activities excluding minority shareholders’ shares/Average number of shares
Price earnings ratio (PE)	Share price/Earnings per share
Equity ratio	Equity at year-end x 100/Equity and liabilities at year-end

Key figures are calculated in accordance with ‘Recommendations and Ratios 2005’ issued  by the Danish Society of Financial Analysts.