Tesco 2013 Annual Report Download - page 141

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Designed and produced by
CONRAN DESIGN GROUP
This Report is printed on Revive 100 Pure White Silk
paper and has been independently certified on behalf
of the Forest Stewardship Council® (FSC). The inks
used are all vegetable oil based.
Financial calendar
Financial year end 2012/13 23 February 2013
Final ex-dividend date 24 April 2013
Record date 26 April 2013
Q1 Interim Management Statement 5 June 2013
Annual General Meeting 28 June 2013
Final dividend payment date 5 July 2013
Half-year end 2013/14 24 August 2013
Interim Results 2 October 2013
Q3 Interim Management Statement 4 December 2013
Financial year end 2013/14 22 February 2014
Please note that dates are provisional and subject to change.
Glossary
Capital expenditure: the additions to property, plant and equipment,
investment property and intangible assets (excluding assets acquired
under business combinations).
Capex % of sales: capital expenditure as defined above, divided by
Group sales including VAT and excluding IFRIC 13.
Constant tax rate: using the prior year’s effective tax rate.
EBITDAR: operating profit before depreciation, amortisation, rent
and movements in impairments of property, plant and equipment,
investment property and intangible assets.
Fixed charge cover: the ratio of EBITDAR (excluding Tesco Bank
EBITDAR) divided by financing costs (net interest excluding IAS 32 and
39 impacts and pension finance costs) plus operating lease expenses.
Gearing: net debt divided by total equity.
Net indebtedness: the ratio of adjusted net debt (net debt plus
pension deficit and the present value of lease obligations) divided
by EBITDAR (excluding Tesco Bank EBITDAR).
Return on capital employed: profit before interest and tax less tax
at the effective rate of tax divided by the calculated average of opening
and closing net assets plus net debt plus dividend creditor less net assets
held for resale.
Total shareholder return: the notional return from a share, measured
as the percentage change in the share price, plus the dividends paid
with the gross dividends reinvested in Tesco shares. This is measured
over either a five-year or a one-year period. For the latter, TSR represents
the movement for the current financial year.
Underlying diluted earnings per share: underlying profit less tax
at the effective tax rate and minority interest divided by the diluted
weighted average number of shares in issue during the year.
Underlying profit before tax: underlying profit before tax excludes
the impact of non-cash elements of IAS 17, 19, 32 and 39 (principally
the impact of annual uplifts in rents and rent-free periods, pension costs,
and the marking to market of financial instruments); the amortisation
charge on intangible assets arising on acquisition and acquisition costs,
and the non-cash impact of IFRIC 13. It also excludes restructuring and
other one-off costs.