Definitions

Number of outpatients
Number of patient visits, for patients with length of stay shorter than 24 hours.

Number of inpatients
Number of patient visits, for patients with length of stay longer than 24 hours.

Average length of stay (AVLOS)
Average length of an inpatient stay measured in number of days. AVLOS presented excludes psychiatry, rehabilitation, nursing and eating disorder patients. AVLOS in France has also been adjusted for the effect from the transfer between in- and outpatient treatments. These adjustments have been made in order to show a comparable AVLOS between segments and over time.

Number of employees
Number of employees as full-time equivalents on average during the year.

Total sales growth, %
Increase in net sales for the period as a percentage of the previous year’s net sales.

Organic sales growth, %
Increase in net sales for the period, adjusted for acquisitions/divestments and changes in exchange rates, as a percentage of the previous year’s net sales adjusted for divestments.

Operating result (EBITA)
Operating result before amortizations of group surplus values, restructuring and other non-recurring items and acquisition related costs.

Operating result (EBITDA)
Operating result (EBITA) adjusted for depreciations and impairments related to operating fixed assets.

Operating result (EBITDAR)
Operating result (EBITDA) adjusted for rent of premises.

Operating result (EBIT)
Operating result before interest and income tax.

Adjusted profit/loss for the period
Profit/loss for the period attributable to parent company shareholders adjusted for amortization of group surplus values, restructuring and other non-recurring items, acquisition related costs and write-off of capitalized borrowing costs, net of income tax.

Earnings per share (before dilution)
Profit/loss for the period attributable to parent company shareholders in relation to the average number of outstanding common shares during the period. Refer to financial reports for calculations of earnings per share.

Earnings per share (after dilution)
Profit/loss for the period attributable to parent company shareholders, excluding the net cost of outstanding convertible debenture loans issued during the third quarter 2016, in relation to the average number of shares including effects from the convertible debenture loans. Refer to financial reports for calculations of earnings per share.

Adjusted earnings per share (before dilution)
Adjusted profit/loss for the period attributable to parent company shareholders in relation to the average number of outstanding common shares during the period. Refer to financial reports for calculations of earnings per share.

Adjusted earnings per share (after dilution)
Adjusted profit/loss for the period attributable to parent company shareholders, excluding the net cost of outstanding convertible debenture loans issued during the third quarter 2016, in relation to the average number of shares including effects from the convertible debenture loans. Refer to financial reports for calculations of earnings per share.

Net customer receivables and DSO
Accounts receivables and accrued production less bad debt provision and advances from customers. DSO, Days sales outstanding, average number of days outstanding on net sales, at balance sheet date.

Operating capital employed
Operating capital employed consists of non-interest bearing operating assets and liabilities, mainly operating fixed assets, net customer receivables, supplier payables and other operating assets and liabilities.

Other capital employed
Other operating capital employed consists of acquisition related surplus values (real estate, goodwill, trademark and other surplus values), tax assets and liabilities and other non-operating capital employed items.

Capital employed
Capital employed includes all non-interest bearing assets and liabilities as well as provisions for employee-benefits.

Return on capital employed
RTM operating result (EBITA) as a percentage of capital employed.

Net debt
The Group’s external interest-bearing assets and liabilities adjusted for cash and cash equivalents.

Financial leverage
Financial leverage is the closing balance of net debt in relation to RTM operating result (EBITDA).

Net capital expenditures
Investments in fixed assets, net of divestments of fixed assets excluding items classified as non-operating, for the period.

Net investments
Investments in fixed assets, net of divestments of fixed assets, depreciations and impairments, excluding items classified as non-operating, for the period.

Operating cash flow
Operating cash flow relates to operating result (EBITA) adjusted for net investments and changes in working capital.

Free cash flow before financial items
Corresponds with operating cash flow less income taxes paid.

Free cash flow after financial items
Corresponds with free cash flow before financial items less net financial items paid.

Cash conversion
Cash conversion in % is defined as the cash flow in relation to operating result (EBITA).

Acquisitions and divestments of companies
in the operational cash flow statement relate to the total net debt impact.

RTM
Rolling 12 month.