Cathay Pacific 2014 Annual Report Download - page 109

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ANNUAL REPORT 2014
107
Glossary
Ratios
Earnings/(loss)
per share =
Profit/(loss) attributable to the
shareholders of Cathay Pacific
Weighted average number
of shares (by days) in issue for the
year
Profit/(loss) margin =
Profit/(loss) attributable to the
shareholders of Cathay Pacific
Turnover
Shareholders’ funds
per share =
Funds attributable to the
shareholders of Cathay Pacific
Total issued and fully paid shares
at end of the year
Return on capital
employed =
Operating profit and share of
profits of associates less taxation
Average of total equity and
net borrowings
Dividend cover =
Profit/(loss) attributable to the
shareholders of Cathay Pacific
Dividends
Cash interest cover = Cash generated from operations
Net interest paid
Gross debt/
equity ratio =Borrowings
Funds attributable to the
shareholders of Cathay Pacific
Net debt/
equity ratio =Net borrowings
Funds attributable to the
shareholders of Cathay Pacific
Passenger/Cargo
and mail load factor =
Revenue passenger kilometres/
Cargo and mail revenue
tonne kilometres
Available seat kilometres/
Available cargo and mail
tonne kilometres
Revenue load factor =
Total passenger, cargo and mail
traffic revenue
Maximum possible revenue
at current yields and capacity
Breakeven load
factor =
A theoretical revenue load factor
at which the traffic revenue
equates to the net operating
expenses.
Passenger/Cargo
and mail yield =
Passenger turnover/
Cargo and mail turnover
Revenue passenger kilometres/
Cargo and mail revenue
tonne kilometres
Cost per ATK =
Total operating
expenses of Cathay Pacific
and Dragonair
ATK of Cathay Pacific
and Dragonair
Terms
Borrowings Total borrowings (loans and lease obligations)
less security deposits, notes and zero coupon bonds.
Net borrowings Borrowings and bank overdrafts less
liquid funds.
Available tonne kilometres (“ATK”) Overall capacity,
measured in tonnes available for the carriage of
passengers, excess baggage, cargo and mail on each
sector multiplied by the sector distance.
Available seat kilometres (“ASK”) Passenger seat
capacity, measured in seats available for the carriage
of passengers on each sector multiplied by the
sector distance.
Revenue passenger kilometres (“RPK”) Number of
passengers carried on each sector multiplied by the
sector distance.
Revenue tonne kilometres (“RTK”) Traffic volume,
measured in load tonnes from the carriage of passengers,
excess baggage, cargo and mail on each sector multiplied
by the sector distance.
On-time performance Departure within 15 minutes of
scheduled departure time.
EBITDA Earnings before interest, tax, depreciation
and amortisation.
Recoveries Cost recoveries from incidental activities.