• E •

EWC

EWC (European Works Council): workers' representative bodies at European level.

EBIT

Earnings Before Interest and Taxes (EBIT) represents a of the operating profit before deduction of financial charges and taxes. It is also called Operating Income Before Taxes.

EBIT is obtained by restating the income statement items as follows:
Turnover - Cost of sales = Gross Operating Margin - Operating costs = EBIT (Earnings before interest and taxes).

EBITDA

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) represents a measure of gross operating profit.

EBITDA is obtained by restating the Income Statement items as follows:
Turnover - Cost of sales = EBITDA (or Gross Operating Margin).

EBITDA is used as a measure of operating profit in the calculation of cash flows from operating activities.

• G •

Global Reporting Initiative

The Global Reporting Initiative is a non-profit organization established to create useful support tools for the sustainable performance reporting of organizations of all sizes, sectors and countries. GRI standards offer a modular and interconnected structure for reporting economic, social and environmental sustainability (www.globalreporting.org).

The GRI standards are based on the principle of materiality intended as "referring to those aspects that reflect significant economic, social and environmental impacts or substantially influence stakeholder assessments and decisions.

Global Ultimate Owner

Independent shareholder with the highest percentage of direct or total ownership.

To be considered independent, a shareholder must be independent in and of itself (individuals or families, Public Authority/State, Employees/Managers) or be an economic entity with an independence indicator (BVD) A+, A, A- (i.e. not have shareholders with more than 25%).

• R •

REPRISK

Indicator measuring the exposure of Multinationals to environmental, social and governance risks (ESG).
The indicator ranges from 0 (min) to 100 (max).

• S •

Social responsibility

Responsibility by an organization for the impacts of its decisions and activities on society and the environment, through ethical and transparent behavior that: contributes to sustainable development, including the health and well-being of society; takes into account stakeholders' expectations/interests; is in compliance with applicable law and consistent with international standards of behavior; is integrated throughout the organization and put into practice in its relationships.