Definitions
EBITDA Earnings before net financing costs, tax, depreciation and amortisation.   EBIT Earnings before net financing costs and tax.   HEADLINE EARNINGS Headline earnings are calculated in note 20, in accordance with the South African Institute of Chartered Accountants' Circular 7/2002.   HEADLINE EARNINGS PER SHARE Headline earnings divided by the weighted average number of shares in issue.   OPERATING MARGIN EBIT expressed as a percentage of revenue.   PRE-TAX RETURN ON CAPITAL EMPLOYED EBIT plus interest received expressed as a percentage of average total capital employed, excluding capital work in progress.   RETURN ON EQUITY Headline earnings expressed as a percentage of average equity.   DEBT TO EQUITY Long and short-term borrowings divided by total equity.    NET DEBT TO EQUITY Long and short-term borrowings less cash resources divided by total equity.   CURRENT RATIO Current assets divided by current liabilities.   LIQUIDITY RATIO Current assets, excluding inventories, divided by current liabilities.   NET ASSET VALUE PER SHARE Equity divided by the number of ordinary shares at year end.   TOTAL CAPITAL EMPLOYED Equity, minority interests, deferred tax, long and short-term borrowings, provisions and derivative liabilities.   TOTAL LIABILITIES Long-term borrowings, provisions, derivative liabilities and current liabilities.