Glossary

Adjusted EBITDA
EBITDA excluding items which are considered not indicative of underlying business operating performance

Adjusted net earnings
Net earnings from continuing operations, net of non-controlling interest, excluding items which are considered not indicative of underlying business operating performance

Book value per common share
Shareholders’ equity, net of non-controlling interest, divided by total common shares outstanding

CAGR
Compound Annual Growth Rate

Capital expenditures
Payments made for the acquisition of property, equipment and investment property purchases

EBITDA
Net earnings from continuing operations, before finance costs (net of finance income), income taxes, and depreciation and amortization of intangibles

EBITDA margin
EBITDA divided by sales

Free cash flow
Cash flows from operating activities, plus proceeds on disposal of  property, equipment and investment property, less property, equipment and investment property purchases

Funded debt
All interest bearing debt, which includes bank loans, bankers’ acceptances and long-term debt

Gross Margin
Gross profit divided by sales

Gross Profit
Sales less costs of sales

Hedge
A financial instrument used to manage foreign exchange, interest rate, energy or other commodity risk by making a transaction which offsets the existing position

Interest expense
Interest expense on financial liabilities measured at amortized cost plus losses on cash flow hedges reclassified from other comprehensive income

Net funded debt to net total capital
Net funded debt divided by net total capital

Net funded debt
Funded debt less cash and cash equivalents

Net total capital
Total capital less cash and cash equivalents

Operating income
Also called earnings before interest and taxes (“EBIT”).  Calculated as net earnings from continuing operations before finance costs (net of finance income) and income taxes

Operating income margin
Operating income divided by sales

Private label
A brand of products that is marketed, distributed and owned by the Company

Return on equity (“ROE”)
Net earnings for the year attributable to owners of the parent divided by average shareholders’ equity

Same-store sales
Sales from stores in the same location in both reporting periods

Total capital
Funded debt plus shareholders’ equity, net of non-controlling interest

Weighted average number of shares
The number of Non-Voting Class A shares plus Class B common shares outstanding adjusted to take into account the time the shares are outstanding in the reporting period