Glossary

A

AI

Artificial intelligence (AI) is a branch of computer science that deals with programming machines so that they can perform complex tasks.

AIB

AIB is the European association of national issuing bodies for energy certificates and publishes annual emission and energy factors for the European residual mix.

Associated company

Associated companies are those over whose business and financial policies a significant influence can be exercised without them being controlled. Typically, this involves a capital share of 20% or more.

Audit

Systematic review and evaluation of processes for monitoring and controlling standards

B

Batch production

Production of products in predefined groups or sets

Benchmark

Measure used to compare the performance, return or quality of a company

BIM

Building Information Modeling (BIM) is a holistic process for creating and managing information for a building object.

Biomass balance method

Approach in which fossil fuels are replaced by renewable raw materials and allocated to the end products mathematically

Black-Scholes model

Financial mathematical model for the valuation of financial options

Blue Angel

Ecolabel, which recognizes particularly environmentally friendly products and services

BMWK

Federal Ministry of Economics and Climate Protection of the Federal Republic of Germany.

BNB

Assessment system for sustainable building of the federal government

Bond

A bond is a debt security that securitizes the repayment of the nominal value after a fixed term as well as a fixed or variable interest rate by the issuer.

BREEAM

British building certification system "Building Research Establishment Environmental Assessment Method"

Bridge finance

Temporary pre-financing or interim financing

C

CAD

Computer-aided design (CAD) is a computer-aided technology that is used in the creation, modeling, analysis and presentation of products.

Capacity utilization

Ratio of actual production volume to maximum possible total capacity.

CapEx

Stands for capital expenditures and defines a company's expenditures on tangible or intangible assets

Carbon footprint

Total amount of greenhouse gas emissions caused by a company, a private individual, an event, a product or a service over a certain period of time

Cash equivalents

Financial instruments that can be converted into cash quickly and promptly

Cash flow

Cash flow refers to the net inflow of liquid funds within a defined period. As a rule, cash flow is calculated as the difference between cash inflows and cash outflows. It therefore provides information about a company's solvency and internal financing capacity.

CCF

A Corporate Carbon Footprint (CCF) balances the company's own greenhouse gas emissions as well as all relevant greenhouse gas emissions caused along the value chain of a company.

CH₄

Methane

CO₂

Carbon dioxide

CO₂ equivalents

A unit of measurement used to standardise the climate impact of different greenhouse gases.

Commercial register

The commercial register is a public register kept by the respective local court in which all relevant key economic data of a company must be maintained.

Compliance

Compliance is an important element of corporate governance. This refers to the observance of laws and compliance guidelines as well as voluntary codes within the company. The compliance guidelines contain the fundamental and binding rules for conduct within the Uzin Utz Group as well as towards business partners, shareholders and the general public.

Consolidated companies

Group of all legally independent entities that are included in the consolidated financial statements in the form of consolidation because they are controlled or significantly influenced by the parent company.

Consolidation

A consolidated financial statement is prepared from the individual financial statements of all subsidiaries included in the scope of consolidation, which shows the financial, earnings and asset situation of the Group as if it were a single entity.

Corporate Carbon Footprint

A Corporate Carbon Footprint (CCF) balances the company's own greenhouse gas emissions as well as all relevant greenhouse gas emissions caused along the value chain of a company.

Corporate Governance

Principles and guidelines for responsible corporate governance for the benefit of all relevant stakeholders

Corporate Sustainability Reporting Directive

The Corporate Sustainability Reporting Directive (CSRD) is a European Union directive on corporate sustainability reporting

Cryptocurrencies

Cryptocurrencies are digital currencies such as Bitcoin, Ethereum, Bitcoin Cash and Ripple.

CSR Directive Implementation Act

The Corporate Social Responsibility Directive Implementation Act (CSR Directive Implementation Act) is the German implementation of the European Non-Financial Reporting Directive (NRFD). It specifies which companies are obliged to report on sustainability and what content this should contain.

CSRD

The Corporate Sustainability Reporting Directive (CSRD) is a European Union directive on corporate sustainability reporting

D

DAX

DAX is the abbreviation for the German share index. It is the most important German stock index and tracks the performance of the 40 largest and most liquid companies on the German stock market.

Deferred taxes

Future tax burdens or tax relief resulting from temporary differences between IFRS and tax law valuations

Depreciation

Recognition and offsetting of reductions in the value of fixed and current assets

DGNB

German Sustainable Building Council

Discount rate

Interest rate at which future payments are discounted to a key date in order to calculate the fair value

Distribution logistics

Link between a company's production and sales, comprising all storage, handling and transportation processes of goods from production to the customer

Dividend yield on closing price basis

Ratio of dividend per share to closing price for the year

DNSH principle

DNSH is the abbreviation for "Do No Significant Harm." According to the EU Taxonomy Regulation, an economic activity is considered to be taxonomy-compliant if it makes a significant contribution to at least one of the six environmental objectives (climate protection, adaptation to climate change, sustainable use and protection of water and marine resources, transition to a circular economy, prevention and reduction of pollution, and protection and restoration of biodiversity and ecosystems) without significantly compromising another environmental objective ("Do No Significant Harm").

Dow Jones

The Dow Jones Average Index (DJII) is the best-known stock market index in the world. It illustrates the performance of the 30 most important shares on the US stock exchange.

E

Earnings per share

Ratio of total earnings to the number of shares issued during the period.

EBIT

Abbreviation for Earnings Before Interest and Taxes.

EBIT margin

Ratio of earnings before interest and taxes to sales revenue

EBT

Abbreviation for Earnings Before Taxes.

ECB

The European Central Bank (ECB) is located in Frankfurt am Main, Germany, and is the central bank of the 20 member states of the European Union that have adopted the euro.

Ecological footprint

The ecological footprint refers to the biologically productive area on earth that is required to sustain a person's lifestyle and standard of living (under today's production conditions). This makes the ecological footprint an indicator of sustainability.

EMICODE EC 1 Plus

Eco-label for the classification of low-emission installation materials and building products

Enterprise Resource Planning

The Enterprise Resource Planning (ERP) is a software system. It digitally maps all of a company's business processes and consolidates them in a central database. This automation enables cross-departmental processes that significantly increase productivity.

Environmental Product Declaration

An Environmental Product Declaration (EPD) is a standardized document that contains information about the environmental impact of a product. It provides detailed data on resource consumption, emissions and other environmental aspects along the entire life cycle of a product. This enables products to be assessed in terms of their environmental impact.

EPD

Equity method/at equity

The equity method refers to a method of accounting for investments in associates and joint ventures. Based on the acquisition cost of the investment at the time of acquisition, the carrying amount of the investment is continuously adjusted to reflect changes in the equity of the investment.

Equity ratio

Ratio of balance sheet equity to total assets.

ERP

EU Taxonomy

The EU Taxonomy is a component of the "Action Plan for Financing Sustainable Growth" presented in March 2018. The EU Taxonomy Regulation is a classification system that aims to create a common understanding of the sustainability of economic activities in the EU, as well as to channel financial flows towards sustainable activities.

EUROCONSTRUCT

EUROCONSTRUCT is an independent network founded in 1974 that produces forecasts for the construction industry. The EUROCONSTRUCT network is made up of partner institutes in 19 European countries that specialise in the construction industry and have expertise in the national markets. EUROCONSTRUCT's forecasts are revised twice a year and presented at a summer conference and a winter conference.

F

Fair value

Fair value refers to the objective, market-based value of an asset or liability.

FiFo procedure

Abbreviation for the "first-in, first-out" method, which means that the goods that enter a warehouse first (first-in) also leave the warehouse first (first-out).

Forecast

Forecasting is used to monitor and support the achievement of short and medium-term targets. The aim is to recognise deviations from planning at an early stage and define countermeasures.

Full-time-equivalent

One full-time equivalent (FTE) corresponds to the working hours of a full-time employee.

Functional currency (IAS 21)

According to IAS 21.8, the functional currency is defined as the "currency of the primary economic environment in which the entity operates". As a rule, the primary economic environment is the environment in which the company primarily generates and expends cash. For Uzin Utz, the functional currency is the Euro.

G

GDP

Gross domestic product (GDP) is a key indicator of a country's economy and growth, showing the total economic output produced in a given period.

GHG Protocol

The Greenhouse Gas Protocol (GHG Protocol) Corporate Standard is an internationally recognized standard for the accounting, categorization, and reporting of greenhouse gases. It classifies emissions into Scope 1, Scope 2 and Scope 3.

Goodwill

Goodwill is the amount by which the acquisition cost of an investment in a company exceeds the proportionate net present value of the identifiable assets, liabilities, and contingent liabilities.

Governance

Refers to the way in which organizations, companies or government units are managed, controlled and monitored through processes, structures and guidelines

Green Deal

The European Green Deal is a package of policy initiatives designed to bring about a green transition in the EU. The overarching goal is to reduce net greenhouse gas emissions in the EU to zero by 2050.

Greenhouse Gas Protocol Corporate Standard

Gross book value

Carrying amount before deduction of accumulated depreciation and/or impairment losses

Gross receivables

Total amount of a company's receivables at book value before deduction of value adjustments or default risks

GWP

The global warming potential (GWP) describes the relative contribution of a substance to global warming of the atmosphere over a certain period of time.

H

Health care ratio

Ratio of actual working days to target working days.

HFC

Hydrofluorocarbons

HGB

Commercial Code (Germany)

I

IAS

IAS is the abbreviation for International Accounting Standards. These are internationally applicable accounting standards to ensure the international comparability of consolidated financial statements and to achieve greater transparency. Since the reorganization of the International Accounting Standards Board (IASB) in 2001, newly published standards bear the designation "International Financial Reporting Standards (IFRS)". The previous "IAS" standards retain their designation and are successively replaced by new IFRS standards or integrated into existing IFRS standards.

ICS

ICS is the abbreviation for "Internal Control System".

IFRIC

IFRIC is the abbreviation for "International Financial Reporting Interpretations Committee" and was founded in 2001 as the successor to the SIC. The committee deals with accounting issues and questions where the standard leaves room for interpretation, with the aim of standardising interpretation and accounting.

IFRS

IFRS is the abbreviation for International Financial Reporting Standards. These are internationally applicable accounting standards to ensure the international comparability of consolidated financial statements and to achieve greater transparency. The accounting standards are adopted by the International Accounting Standards Board (IASB).

IMF

The International Monetary Fund (IMF) is a legally, organizationally and financially independent organization of the United Nations based in Washington D.C., USA. The IMF's tasks include promoting international monetary cooperation, supporting the expansion of trade and economic growth and preventing measures that are detrimental to prosperity.

Impairment

According to IAS 36, an impairment exists if the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and its value in use.

Innovation management

Systematic planning, management and control of innovations

Investment Property

Real estate held for the purpose of increasing value or generating rental and leasing income

IPCC

The Intergovernmental Panel on Climate Change (IPCC) is a UN body established in 1988 to assess the current state of scientific knowledge on climate change.

ISIN number

The ISIN (International Securities Identification Number) is a combination of numbers and letters that identifies any security traded on the international stock exchanges.

ISO 14001

ISO 14001 is international standard of the International Organization for Standardization (ISO), which specifies general requirements for an environmental management system (EMS). An operational environmental management system helps to protect the environment and can also save costs, improve employee motivation and lead to a better brand image among customers and partners.

ISO 14040

ISO 14040 is an international standard that provides guidelines for conducting life cycle assessments of products, processes or systems.

ISO 14044

ISO 14044 is a summary of the previous ISO standards 14041 to 14043 and deals with the topic of life cycle assessment.

ISO 26000

ISO 26000 is a guide to social responsibility for organizations.

ISO 9001

ISO 9001 is an International Organization for Standardization (ISO) standard that specifies the minimum requirements in the quality management system (QMS). The implementation of this standard can help a company improve its business performance at all levels.

J

JuzinIOR

Junior company for trainees at Uzin Utz, which is intended to promote entrepreneurial thinking during training.

K

Kilowatt-peak

Kilowatt-peak (kWp) is a term used in the field of photovoltaics to determine the maximum electrical output of photovoltaic systems.

Klimawin BW

Klimawin BW is a reporting system for climate-conscious and sustainable businesses of all sizes and across all industries in Baden-Württemberg.

kWp

Kilowatt-peak (kWp) is a term used in the field of photovoltaics to determine the maximum electrical output of photovoltaic systems.

L

LCA

Life cycle assessment (LCA) is a systematic analysis and evaluation of the potential environmental impact of products over their entire life cycle.

Leasing

A form of financing in which the lessor transfers an asset to a lessee for use for a defined period of time.

LEED

Leadership in Energy and Environmental Design.

Life cycle assessment

ife cycle assessment (LCA) is a systematic analysis and evaluation of the potential environmental impact of products over their entire life cycle.

Liquidity

The liquidity of a company shows whether it is able to meet its payment obligations. Cash and cash equivalents include cash on hand (cash balances, bank balances) and cash equivalents (e.g. checks) as well as securities and investment fund units, which are recognized as current assets.

Liquidity management

Planning, management and control of all cash flows that leave or flow into a company

M

MAM

Abbreviation for Media Asset Management

Management-defined Performance Measures

The management-defined performance measures (MPMs) are company-specific performance indicators.

Marginal interest rate

Interest rate that a lessee would have to pay if it were to borrow the funds it would need in a similar economic environment for an asset with a comparable right-of-use asset for a comparable term with comparable security.

Market capitalization

The market value of a listed company, which is calculated by multiplying the share price by the number of shares issued.

Market share

Percentage share of a company in total sales or in the total volume of the market

Material usage ratio

Ratio of cost of materials to total output

MDAX

The Mid-Cap-DAX (MDAX) is part of the DAX index family. It includes 50 medium-sized companies - mainly from traditional industrial sectors such as mechanical/plant engineering and chemicals.

MWH

Megawatt hour

N

N₂O

Nitrous oxide

NACE codes

NACE is the abbreviation for Nomenclature Générale des Activités Économiques and is a statistical classification of economic activities in the European Union.

Nasdaq Composite

The Nasdaq Composite is the largest stock index on the NASDAQ (National Association of Securities Dealers Automated Quotations) exchange. NASDAQ is the largest computer exchange in the USA, located in New York.

Net dept / EBITDA ratio

The net debt / EBITDA ratio is the ratio of net debt to EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). It indicates how many years it will take the company to repay its current net debt with the earnings generated. Net debt is calculated as current and non-current financial liabilities less cash and cash equivalents.

Net profit

Net profit is calculated as the positive difference between revenue and expenses for the fiscal year in question.

NF₃

Nitrogen trifluoride

Nominal value

The nominal or fixed value of a financial instrument, such as a share, as stated on the security

Novelty ratio

Ratio of sales of own products less than five years old to total sales of own products.

Number of employees

The number of employees in the UZIN UTZ Group is determined by including part-time employees on a pro rata basis (full-time equivalents).

O

OECD

The Organization for Economic Co-operation and Development (OECD) is an organization based in Paris and comprises 38 member countries. Together they tackle the economic, social and environmental challenges of globalization. As an international standard setter, it publishes comparative analyses and studies.

OpEx

OpEx is the abbreviation for “Operating Expenditure” and shows the operating expenses of a company. Under the EU taxonomy, OpEx is defined as a proportion of operating expenditure, i.e. the direct, non-capitalized costs of research and development, building refurbishment, maintenance and repair, short-term rental and all other direct expenses for the ongoing maintenance of tangible fixed assets that are necessary to ensure the ongoing efficient operation of the tangible fixed assets.

Ordinary shares

Shares that grants the shareholder asset and voting rights

P

Partial goodwill method

Assets and liabilities of a newly acquired company are completely revalued irrespective of the share of the controlling acquirer. The revaluation is carried out without taking goodwill into account.

PCR

Post-consumer recyclate (PCR) refers to materials recovered from products that have already been used and disposed of by consumers.

PDS

Product data sheet (PDS), which contains the technical specifications for our products.

PFC

Perfluorocarbons

PIM

Abbreviation for Product Information Management

PIR

Post-industrial recyclate (PIR) refers to materials that originate from industrial production processes and are recycled.

Planetary dissolver

Industrial mixing device used for mixing products

Post-consumer recyclate

Post-consumer recyclate (PCR) refers to materials recovered from products that have already been used and disposed of by consumers.

Post-industrial recyclate

Post-industrial recyclate (PIR) refers to materials that originate from industrial production processes and are recycled.

Price/earnings ratio

Indicates the ratio of a stock corporation's profit to its current stock market valuation

Profit of the year

Profit of a company after deduction of all expenses, taxes and interest within a financial year

Prohibition of capitalization

Prohibition of recognising certain costs as assets

Project management

Systematic management of projects through the application of methods, techniques, tools, and skills to achieve defined goals in terms of time, cost, and quality

Purchase method

Method for the recognition and presentation of business combinations in the balance sheet, which stipulates that acquired assets and assumed liabilities are recognized at their fair value at the acquisition date

Q

Quako

Cross-site intranet based on Confluence

R

R&D

Abbreviation for research and development

REC

A Renewable Energy Certificate (REC) is a recognized, tradable certificate of origin that serves as proof of the generation of renewable electricity. One REC corresponds to one MWh of electricity generated from renewable sources such as wind, solar, or biomass.

Renewable raw materials

Organic raw materials from agriculture, forestry or fisheries for use outside the food and feed sector

Return on equity

Business indicator that shows how efficiently a company's equity capital is being used to generate returns over a period of time through the profits it generates

Return on sales

Ratio of EBIT to sales

RICS

The Royal Institution of Chartered Surveyors (RICS) is a global professional organization that sets and enforces standards for the valuation, operation and development of various types of property and land.

Risk map

Visualised representation of corporate risks, which forms a basis for prioritisation and corresponding derivation of risk management measures

S

Scope 1 emissions

Direct emissions from company-controlled sources

Scope 2 emissions

Indirect emissions from purchased energy

Scope 3 categories

According to the GHG Protocol, Scope 3 emissions are divided into 15 categories of indirect greenhouse gas emissions, which are further classified as upstream (Categories 1–8) and downstream (Categories 9–15).

Scope 3 emissions

Indirect emissions along the upstream and downstream value chain

SDAX

The Small-Cap-DAX (SDAX) is part of the DAX index family. It includes 70 smaller companies (so-called small caps).

SDS

The Sustainability Data Sheet (SDS) contains sustainability-related information as well as an overview of the building certification schemes for which the respective product is eligible .

SE

The European Company, often referred to as the European Stock Corporation (internationally also known by its Latin name Societas Europaea, or SE for short), is a legal form for stock corporations in the European Union and the European Economic Area.

Securities identification number

Each security is assigned a twelve-digit security identification number. The security identification number has been replaced by the international securities identification number ISIN.

SF₆

Sulphur hexafluoride

Shareholder value

Market value of equity

Simplified approach

Simplified approach means simplified approach.
Under IFRS 9, entities are permitted to apply a simplified approach to the recognition of expected impairment losses on trade receivables based on the remaining term to maturity.

Statement of comprehensive income

Consists of the income statement (PL) and other comprehensive income (OCI)

STP adhesives

Adhesives based on silane-terminated polymers

Sub-index

This index represents the price development of a part of a larger share index.

T

Taxonomy alignment

Taxonomy-compliant economic activities demonstrably make a significant contribution to one of the environmental objectives of the EU taxonomy without significantly harming another environmental objective ("Do No Significant Harm"). In addition, minimum social standards are complied with.

Taxonomy eligibility

Taxonomy-eligible economic activities are, in principle, suitable for making a significant contribution to one of the environmental objectives of the EU taxonomy.

TecDAX

The TecDAX belongs to the Prime Standard of the German technology indices and is part of the DAX index family. The TecDAX includes the 30 largest technology companies in terms of market capitalization.

Technical Inspection Association

The Technical Inspection Association carries out technical inspections and certifications to ensure safety.

Total cost method

The total cost method is a method of preparing the income statement in which all costs incurred in a period are compared with total output, including unsold products or products still in production.

TÜV

The TÜV (Technical Inspection Association) carries out technical inspections and certifications to ensure safety.

V

Value added

Company performance (sales revenue, other income, changes in inventories) less cost of materials, depreciation and amortization and other operating expenses

Value chain

Sequence of refinement steps in the production process, starting with the raw materials through various intermediate stages such as transportation and production to the finished end product

VOC emissions

Volatile organic compound emissions (VOC emissions) are volatile substances of organic origin in the air.

Volatility

Intensity of price fluctuations of shares and foreign exchange or price changes of bulk goods

W

Weighted average cost of capital (WACC)

The WACC (weighted average cost of capital) is the weighted average cost of capital for a company, which indicates how much return the company must generate on average for its entire capital in order to satisfy its investors. It serves as a discount rate in company valuation for calculating the value of the company.

Whistleblower system

Serves as a central point of contact for a company's employees, business partners, customers and other stakeholders to anonymously report misconduct.

WHM

Workplace Health Management (WHM) optimizes working conditions, structures, and processes and empowers employees to adopt healthy behaviors.

WIN Charta

The WIN Charta was developed as an instrument for sustainably operating small and medium-sized enterprises in the state of Baden-Württemberg. It honors companies for their economic, ecological and social responsibility.

WpHG

Securities Trading Act