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Access Points
Wireless access points are part of the network technology of a
computer network. The wireless access point enables wireless
users to access the cable-based network and communicate with
each other.
APOC
Acute point of care
Arm’s length principle
Principle used in particular (but not exclusively) in tax law for
business conducted as if between unrelated parties.
Capital employed
Interest-bearing capital employed.
Capital employed—Group
Balance sheet total less deferred tax assets, cash and cash
equivalents and non-interest bearing liabilities.
Capital employed—subgroups
Balance sheet total less deferred tax assets, cash and cash
equivalents including receivables from cash management,
and non-interest bearing liabilities.
Cash flow
Shows the change in cash and cash equivalents during a specific
reporting period.
Cash flow from financing activities
Includes cash provided by raising/cash used to redeem bank loans,
other liabilities to banks, interest liabilities from finance leases, cash
used for dividend payments and cash inflows/outflows from capital
increases/reductions.
Cash flow from investing activities
Net cash used in, or provided by, investments/divestments.
Cash flow from operating activities
Net cash used in, or provided by, current operations
unless attributable to investments, divestments or
financing.
Cash flow statement
Used to determine and disclose the flows of cash & cash
equivalents provided by, or used in, a company's operating,
investing and financing activities within a defined
period.
CDAX Pharma/Health
Short for Composite DAX and reflecting, contrary to the
DAX, all pharma/health-related equities officially listed
for trading at the Frankfurt/Main Stock Exchange.
Corporate governance
International parlance, meaning the responsible governance
and control of a company with the sustained
creation and addition of shareholder value in mind.
Corporate Governance Code
The German Corporate Governance Code is an important piece
of legislation governing the management and monitoring of German
listed companies (corporate governance) and contains nationally
and internationally recognized standards for proper and responsible
corporate governance. The aim of the code is to make the German
corporate governance system transparent and comprehensible,
and also to increase the trust of international and national investors,
customers, employees and the general public in the management
and monitoring of German listed stock corporations.
Corporate identity
A coherent and consistent interplay of
corporate design, corporate communications
and corporate behavior combines
to emphasize corporate presence and
personality and helps generate an unmistakable
and distinctive corporate
identity (CI).
DAX
German stock index, compiled by Deutsche Börse AG, the
German Stock Exchange Corporation. It covers the 30 biggest
German equities from the Frankfurt/Main Stock
Exchange's Prime Standard segment.
Debt
Outside capital as opposed to equity: the balance sheet
total less equity.
Deferred taxes
Temporary differences between pretax accounting
income and taxable income, designed to disclose tax
expense/liability in line with the financial-accounting
income.
Derivatives
Instruments whose value is mainly derived from a specified
price and price fluctuations/expectations of an underlying
asset (e.g. shares, foreign currency, interest securities).
Director dealings
Director dealings are securities transactions conducted by persons
with management functions at a listed stock corporation in that corporation’s
own shares or in related financial instruments. According
to Art. 15a German Securities Trading Act (“WpHG”), these persons,
including those who are closely related to them, must report
securities transactions of this kind immediately.
DJIA
Short for Dow Jones Industrial Average, a US index for
blue chips.
DJ STOXX
European stock index compiled by Stoxx Ltd., and indexing
company incorporated by Deutsche Börse, Bourse de
Paris, the Swiss Exchange, and the publishing house Dow
Jones & Company.
Dräger Foundation
Founded in 1974 by Dr. Heinrich Dräger,
the Dräger Foundation’s activities continue
its founder’s commitment to society,
particularly by promoting science and
research.
EBIT
As used by Dräger, earnings before interest and all taxes.
EBIT margin
Ratio of EBIT to net sales: the higher the EBIT margin, the
higher a company's profitability.
EBITDA margin
Ratio of EBITDA to net sales: the higher this margin, the
higher a company’s profitability.
Equity
Funds paid in or contributed by owners, plus retained
earnings.
Equity ratio
Ratio of equity to total capital (the higher this ratio, the
lower the leverage).
Equity story
Comprehensive presentation of corporate performance.
Financial derivatives
Financial instruments whose value is
mainly derived from the price and price
swings of an underlying transaction (e.g.
equities, foreign exchange, interest-bearing
bonds).
Fixed assets
Assets destined for long-term use in and by the company.
Free cash flow (before dividends)
Cash flow from operating activities less that from investing
activities.
Free float
Shares of a public company that are freely available to the investing
public.
Goodwill
Excess of an acquired company’s cost
over its net equity.
Gross domestic product
Total market value of all goods and services produced
within the boundaries of a nation, regardless of asset
ownership, plus nondeductible VAT and adjusted for
goods consumed.
HDax
Index that reflects the price trend of all
DAX, MDAX and TecDAX equities.
Hedging
Hedging of price and interest/exchange
rate risks, etc. through options or forwards
that (largely) cover the risks of the underlyings.
HUB
Central distribution warehouse
IFRSs
International Financial Reporting Standards. See page 38f.
for more information.
Joint venture
Agreement made by different companies
to run a joint operation.
KonTraG
German Act on Corporate Control & Transparency.
Market capitalization
Market value of a listed company, obtained by multiplying
the stock price by the number of shares quoted on the
capital market.
MDAX
Up to March 21, 2003, this mid-cap index comprised the
70 biggest listed German companies (in terms of trading
volume and market capitalization) below the DAX30 and
thus the remainder of the DAX100. Since the indexes'
resegmentation as of March 24, 2003, the MDAX has
covered the 50 second biggest (after the DAX30) equities
from the Frankfurt/Main Stock Exchange's Prime Standard
of general industries.
Monitoring
Displaying and monitoring patient data.
Neonatology
Medical care for newborn and premature babies.
Net financial debt
Balance of interest-bearing assets and liabilities (accounts
due to banks and notes payable less short-term securities
and cash & cash equivalents)
Outsourcing
Farming out certain functions or activities
to outside service providers and specialists.
Statement at equity
Method to account for investees which are
not fully consolidated with all their assets,
equity and liabilities in the consolidated
Participation certificates
Bonds that, contrary to equities, usually
evidence a share not in the capital but
only in the net income or net liquidation
assets of corporations and companies.
Though tradable, participation certificates
do not rank as stocks. While their holders
are not entitled to vote at the general
meeting, participation certificates generally
return a higher yield than fixed-income
securities.
Participation certificates
Debenture that generally grants a share in net profits or
liquidation proceeds, especially for stock corporations and
limited liability companies, rather than conferring an equity
interest, as does a share. Participation certificates are
negotiable but are not shares. The holder does not have
the right to vote at the annual stockholders’ meeting, but
the profit participation usually exceeds the return on fixedinterest
securities. Under HGB, participation certificates
are recognized in equity, under IFRSs, they are disclosed
in debt.
R&D
Abbreviation for research and development.
Return on equity (net)
The ratio of earnings before all taxes and before minority
interests to equity.
Return on equity (pretax)
Ratio of net income to equity.
Risk management
Systematic approach to identify and
assess potential risks and decide on and
implement measures for their management
and control.
ROCE
Return on capital employed (EBIT ÷ capital
employed)
ROE
Return on equity: profit (net profit) divided by recognized
equity. The ratio indicates the return on the stockholders'
capital.
Statement at equity
Method to account for investees which are not fully consolidated
with all their assets, equity and liabilities in the
consolidated financial statements, implying that the investee's
book value is adjusted for the annual change in
the prorated equity. Such change is recognized in the
income statement of the investee's owner.
Statutory audit
A legally prescribed examination by independent auditors
for compliance with defined standards and regulations.
Supply chain management
Process-oriented, effective and efficient
management of the entire value and supply
chain, with the aim to optimize procurement,
production and the delivery
of products or provision of services to
customers.
TecDAX
The German index for listed technology equities, covers
the 30 biggest Prime Standard technology stocks below
the DAX.
VLAN technology
Virtual local network within a physical network.
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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