Saab 2010 Annual Report Download - page 125

In Malmslätt, Saab had surface treatment operations which were subject
to licensing until the summer of , when the operations were terminated.
A review of the future classication of operations according to the Environ-
ment Code is under way. With the exception of a few exceeded limits, Saab
 did not exceed any conditions in its permits or injunctions in .
Operations subject to permit requirements in subsidiaries
e operations carried on by Linköping City Airport  are subject to licens-
ing according to the Environment Code and are covered by the permit issued
by the National Licensing Board for Environmental Protection in  for
Saab ’s collective operations in the Tannefors industrial zone in the munic-
ipality of Linköping. is permit also covers the operations of Saab Dynamics
 in the area, despite that they are not subject to licensing and notication
requirements according to the Environment Code.
Saab Dynamics  and Saab Bofors Test Center  carry on operations in
Karlskoga which are subject to licensing according to the Environment Code.
Saab Dynamics  carries on similar operations in Eskilstuna. In addition,
Saab Barracuda  carries on operations subject to licensing in Gamleby.
e environmental impact from subsidiaries subject to licensing prima-
rily consists of emissions of s and emissions from aircra into the atmos-
phere, emissions of metals and deicing solvents into waterways, generation of
industrial wastes and noise disturbing local surroundings.
In , none of Saab’s subsidiaries exceeded any conditions of their permits
or injunctions.
Operations subject to notification requirements
Saab  has operations in Arboga, Gothenburg, Ljungbyhed, Nyköping and
Östersund which are subject to notication requirements in accordance with
the Swedish Environment Code. e Group also has operations subject to
notication requirements in the subsidiaries Saab Underwater Systems  in
Motala, Saab Training Systems  in Huskvarna and Saab Natech  in
Jönköping. e environmental impact of these operations is very limited.
For further information related to Saab’s environmental report, see the
Administration report, pages –.
NOTE 50
EXCHANGE RATES USED IN FINANCIAL STATEMENTS
Year-end rate Average rate
Country 2010 2009 2010 2009
Australia AUD 1 6.92 6.43 6.61 6.01
Denmark DKK 100 120.75 139.15 128.13 142.64
Euro EUR 1 9.00 10.35 9.54 10.62
Japan JPY 100 8.34 7.84 8.22 8.18
Canada CAD 1 6.81 6.89 6.99 6.70
Norway NOK 100 115.20 124.30 119.16 121.62
UK GBP 1 10.55 11.49 11.13 11.93
South Africa ZAR 100 103.00 97.00 98.41 91.20
USA USD 1 6.80 7.21 7.20 7.65
NOTE 51
DEFINITIONS OF KEY RATIOS
Gross margin
Gross income as a percentage of sales.
Adjusted gross margin
Gross income adjusted for the result from divestments and non-
recurring income/expenses as a percentage of sales.
Operating margin
Operating income as a percentage of sales.
Adjusted operating margin
Operating income adjusted for the result from divestments and non-
recurring income/expenses as a percentage of sales.
EBITDA margin
Operating income before depreciation, amortisation and impairments less
depreciation and impairments of lease aircras as a percentage of sales.
Capital employed
Total capital less non-interest-bearing liabilities.
Return on capital employed
Operating income plus nancial income as a percentage of average capital
employed.
Return on equity
Net income for the year as a percentage of average equity.
Profit margin
Operating income plus nancial income as a percentage of sales.
Capital turnover
Sales divided by average capital employed.
Net liquidity/net debt
Liquid assets, short-term investments and interest-bearing receivables less
interest-bearing liabilities and provisions for pensions.
Equity/assets ratio
Equity in relation to total assets.
Interest coverage ratio
Operating income plus nancial income divided by nancial expenses.
Earnings per share
Net income for the year attributable to Parent Company shareholders’
interest , divided by the average number of shares before and aer full
dilution. ere is no dilution impact if the result is negative.
Equity per share
Equity attributable to the Parent Company’s shareholders divided by the
number of shares, excluding treasury shares, at the end of the year.
Operating cash flow per share
Operating cash ow divided by the average number of shares aer dilution.
FINANCIAL INFORMATION > NOTES
122 SAAB ANNUAL REPORT 2010