Carphone Warehouse 2014 Annual Report Download - page 107

Glossary and definitions
The following definitions apply throughout this annual report unless the context otherwise requires:
ACQUISITION
INTANGIBLES
Acquired intangible assets such as customer bases,
brands and other intangible assets acquired through
abusiness combination capitalised separately
fromgoodwill.
ARPU Average revenue per user.
B/C SHARE SCHEME The scheme used to return the initial proceeds from
the Best Buy Mobile Disposal to shareholders.
BEST BUY Best Buy Co., Inc. (incorporated in the United States)
and its subsidiaries and interests in joint ventures
andassociates.
BEST BUY EUROPE
Best Buy Europe Distributions Limited and its subsidiaries
andinterests in joint ventures and associates
(incorporated in England and Wales).
BEST BUY
JOINTVENTURE
TRANSACTION
Old Carphone Warehouse’s disposal of a 50%
interestin its mobile retail and distribution business
(Best Buy Europe), including its economic interests
inBest Buy Mobile, in June 2008.
BEST BUY MOBILE Best Buy’s retail operations in respect of mobile phones
and other connected devices in which Best Buy Europe
had a profit share arrangement.
BEST BUY MOBILE
DISPOSAL
The disposal of the Group’s interest in Best Buy Mobile
to Best Buy.
BEST BUY UK Best Buy Europe’s Best Buy branded Big Box stores
and onlinebusiness.
BOARD The Board of directors of the Company.
CARPHONE
ORTHECOMPANY
Carphone Warehouse Group Public Limited Company
(incorporated in England and Wales under the Act,
with registered number 07105905), whose registered
office is at 1 Portal Way, London W3 6RS.
CARPHONE GROUP
ORGROUP
The Company, its subsidiaries, interests in joint
ventures and other investments.
CGU Cash generating unit.
CIRCULAR The circular being sent to shareholders in respect
ofthe Merger.
CONSIDERATION
SHARES
The 42.1m ordinary shares in the Company issued
toBest Buy on 25 June 2013 at a price of £1.90 per share,
in connection with the CPW Europe Acquisition.
CPW OR CARPHONE
WAREHOUSE
The continuing business of the Carphone Group,
excluding its interest in Virgin Mobile France.
CPW EUROPE Best Buy Europe’s core continuing operations.
CPW EUROPE
ACQUISITION
The Company’s acquisition of Best Buy’s interest
inCPW Europe, which completed on26June 2013.
DEMERGER The demerger of Old Carphone Warehouse into the
Group and TalkTalk Group, effective on 26 March 2010.
EARNINGS Profit or loss after taxation, unless the context
otherwise requires.
EBIT Earnings before investment income, interest
andtaxation.
EBITDA Earnings before investment income, interest, taxation,
depreciation and amortisation.
EPS Earnings per share (basic unless otherwise indicated).
ESOT Employee share ownership trust.
HEADLINE RESULTS Results before non-Headline results. The phrases
"Headline earnings", "Headline EBIT", "Headline
EBITDA" and "Headline EPS" should be interpreted
inthe same way. The Headline results of the Group’s
joint ventures also include certain reclassifications,
asdetailed in note 24 to the Group financial statements,
to aid understanding of underlying performance.
HMRC Her Majesty’s Revenue and Customs.
IFRS International Financial Reporting Standards
asadopted by the European Union.
MERGER The proposed merger of Dixons Retail plc
andCarphone.
MNO Mobile network operator.
MVNO Mobile virtual network operator.
MTR Mobile termination rates.
NEW CPW New CPW Limited (incorporated in England
andWales).
NONHEADLINE
RESULTS
Items which have been excluded from Headline
resultsto avoid distortion of underlying performance.
Comprises exceptional items which are considered
tobeone-off and so material that they require separate
disclosure to avoid distortion of underlying performance,
the results of businesses which have beendiscontinued
and amortisation ofacquisition intangibles.
NPS Net promoter score, a rating used by the Group to
measure customers’ likelihood to recommend CPW.
OLD CARPHONE
WAREHOUSE
TalkTalk Telecom Holdings Limited (formerly
"TheCarphone Warehouse Group PLC")
(incorporatedin England and Wales).
OLD CARPHONE
WAREHOUSE GROUP
Old Carphone Warehouse and its subsidiaries and
interests in joint ventures prior to the Demerger.
OPERATING FREE
CASH FLOW
EBITDA, less capital expenditure and operating cash
flows in respect of working capital, used as a measure
of operating cash generation.
PARTICIPATION PLAN The Carphone Warehouse Group plc Participation
Plan 2011.
PAT Profit after taxation.
PBT Profit before taxation.
PRO FORMA Results aggregating CPW Europe and the Group’s
wholly owned businesses, as though CPW Europe had
been 100% owned by the Group in the relevant period.
PROSPECTUS The prospectus being sent to shareholders in respect
of the Merger.
ROCE Return on capital employed. Net profit as a percentage
ofcapital employed, calculated using Headline earnings
and with capital employed defined as average equity
andaverage non-current debt. Averages are calculated
based on the opening and closing positions for the
relevant year.
RCF Revolving credit facility.
TALKTALK OR
TALKTALK GROUP
TalkTalk Telecom Group PLC and its subsidiaries
andother investments.
TSR Total shareholder return.
UK GAAP United Kingdom Accounting Standards
andapplicablelaw.
VES Value enhancement scheme.
VIRGIN MOBILE
FRANCE
Omer Telecom Limited (incorporated in England
andWales) and its subsidiaries, operating an MVNO
inFrance as a joint venture between the Company,
Bluebottle UK Limited and Financom S.A.S.
Carphone Warehouse Group plc
Annual Report 2014 105