Alternative Performance Measures

The company presents certain financial measures that are not defined according to IFRS or the Swedish Financial Supervisory Authority’s regulations, so called APMs – Alternative Performance Measures. The company believes that these measures provide valuable supplementary information for investors and the company’s management since they enable the company’s performance to be evaluated. Since not all companies calculate financial measures in the same way, these are not comparable with measures used by other companies. These financial measures should therefore not be seen as a substitute for measures that are defined according to IFRS. Below is a presentation of the measures that are not defined according to IFRS as well as a reconciliation of the measures.

Download: Calculation of Alternative Performance Measures, Quarterly/Full-year – incl restated segment info for 2019-2020

Restated quarterly segment data for 2019 and 2020 in the new structure (Express Air and Express Road) is also found in the above downloadable excel work book.

 

Sales Growth, %

The period’s sales minus the previous period’s sales as a percentage of the previous period’s sales

Jetpak believes that the key performance indicator gives a fair view of the company’s growth

 

Organic Sales Growth, %

The period’s total sales minus the previous period’s total sales as a percentage of the previous period’s total sales where the sales have been adjusted for foreign currency effects, acquisition effects and discontinued operations

Jetpak believes that the key performance indicator gives a balanced picture of the company’s underlying growth and performance

 

Gross contribution

Total revenue minus direct costs (including the segments reallocated personnel and other external costs)

Jetpak believes that the key performance indicator gives a fair picture of the performance of the segments in SEK

 

Gross margin, %

Total revenue minus direct costs (including the segments reallocated personnel and other external costs), in percentage of total revenue

Jetpak believes that the key performance indicator gives a fair picture of the performance of the segments in SEK

 

Operating Profit/Loss

Operating profit/loss before financial items, tax and depreciations and impairments of acquisition-related intangible assets

Jetpak believes that the key performance indicator gives a fair picture of the company’s performance in Swedish kronor that remain to cover financial items, tax, depreciations and impairments of acquisition-related intangible assets and give a profit

 

Operating Margin, %

The operating profit/loss before financial items, tax as well as depreciations and impairments of acquisition-related intangible assets as a percentage of total revenue

Jetpak believes that the key performance indicator reflects the percentage of each Swedish krona of sales that remains to cover financial items, tax, depreciations and impairments of acquisition-related intangible assets and give a profit

 

EBITDA

Operating profit/loss before financial items, tax, depreciations and impairments

Jetpak believes that the key performance indicator gives a fair picture of the company’s performance in Swedish kronor that remain to cover financial items, tax, depreciations and impairments and give a profit

 

EBITA

Operating profit/loss before financial items, tax, depreciations and impairments of acquisition-related intangible assets

Jetpak believes that the key performance indicator gives a fair picture of the company’s performance in Swedish kronor that remain to cover financial items, tax, depreciations and impairments of acquisition-related intangible assets and give a profit

 

Adjusted EBITA

EBITA adjusted for non-recurring items, which disturbs the comparability between periods

This key performance indicator is used to follow up the company’s underlying result, unaffected by non-recurring items

 

Net Debt/Adj. EBITDA R12

The net debt divided by EBITDA, adjusted for non-recurring items on a rolling 12-month basis

Jetpak believes that the key performance indicator gives a fair picture of the level of the company’s incurred debt in relation to the company’s ability to fulfil its commitments to external financiers over time

 

Equity/Assets Ratio, %

Equity as a percentage of total assets at the end of the period

Jetpak believes that the key performance indicator specifies how large portion of the assets is financed by equity and indicates how sensitive the company is to changes in interest rates as well as the company’s long-term stability