Ryanair 2008 Annual Report Download - page 19
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19
Treasury policy, fuel, currency and interest rate risk management
Details of our principal treasury policies are set out in notes 5 and 11 to the consolidated financial
statements.
Additional performance measures
The Group has referred to a number of additional performance measures throughout this operating
and financial review, which are defined as follows:
• Adjusted profit for the year is as set out on page 12. Items adjusted for include the financial
impact of once off events that are not normally expected to occur within the usual operating cycle of the
Group.
• Adjusted operating expenses are total operating expenses as adjusted for the items defined on
page 12.
• Adjusted operating margin is the adjusted operating profit expressed as a percentage of total
revenues.
• Adjusted operating profit is the operating profit as adjusted for accelerated depreciation as listed
on page 12 excluding the effect of taxation.
• Adjusted earnings per share relates to basic earnings per share adjusted to take account of items
listed on page 12 and as more fully described in note 22 to the consolidated financial statements.