Glossary

EBIT

EBIT, that is, Earnings Before Interest and Taxes or operational profits is an analytical index equaling the profits before loan interest and taxes are paid. This index is calculated on the bases of companies' financial reports and is used by investors for estimating the profitability of companies' principal activities.

EBIT norm

EBIT norm = EBIT / Earnings.

EBITDA

EBITDA = operational profits + depreciation + profits received from subsidiaries.

Аnalytical index equaling profits before loan interest, taxes and depreciation deductions are paid.

EBITDA norm

EBITDA norm = EBITDA / Earnings.

Enterprise value (EV)

EV = capitalization + total debt - available cash and its equivalents - short-term financial investments - issued loans.

This is the ammount of market capitalization of common stock and the market value of the debt.

EV/DACF

Often used in the financial ratio EV/DACF instead of EV/EBITDA as a valuation ratio. This ratio is useful in the oil industry as an after-tax calculation (applicable for industries with high resource taxes).

EV/EBITDA

This is the indicator comparing the value of a company with its EBITDA. It is often used as an indication of the number of years needed for the recoupment of investments.

Exportation of petroleum products

The structure of the exportation of petroleum products.

Exports structure as per various kinds of transportation

The ratios between various categories of vehicles used for transporting exported goods to foreign sales locations.