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80 Carphone Warehouse Group plc Annual Report 2011
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.
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 and its subsidiaries and interests in joint ventures and associates
jointly owned by Best Buy and the Group.
Best Buy Europe Distributions Best Buy Europe Distributions Limited (incorporated in England and Wales) being the head entity
of Best Buy Europe.
Best Buy Europe 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 US, in June 2008.
Board The Board of Directors of the Company.
CGU Cash generating unit.
Company Carphone Warehouse Group plc (incorporated in England and Wales).
Demerger The demerger of Old Carphone Warehouse into the Group and the demerger of TalkTalk Group,
effective on 26 March 2010.
Dividend cover Reflects how many times dividends declared are covered by the net profit of the Group.
It is calculated as basic EPS divided by dividends declared in the financial year.
Earnings Profit 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.
Group The Company, its subsidiaries and interests in joint ventures, which following the Demerger
includes joint venture investments in Best Buy Europe and Virgin Mobile France as well as
freehold properties and a number of minority investments in certain other businesses.
Headline results Results before the amortisation of acquisition intangibles, and before exceptional items which are
considered to be one-off and so material that they require separate disclosure to avoid distortion
of underlying performance. 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 14 to the Group
financial statements, to aid understanding of underlying performance.
IFRS International Financial Reporting Standards as adopted by the European Union.
MVNO Mobile virtual network operator.
OFCF Operating free cash flow.
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.
PAT Profit after taxation.
Prospectus The Company’s prospectus issued as a part of the Demerger on 29 January 2010 (available on the
Company’s website at www.cpwplc.com).
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 TalkTalk Telecom Group PLC (incorporated in England and Wales).
Talk Talk Business The UK fixed line telecommunications division of Old Carphone Warehouse which following
the Demerger was owned by TalkTalk.
TalkTalk Group TalkTalk 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.
WAEP Weighted average exercise price.
GLOSSARY AND DEFINITIONS