It's straight from the Annual report (page 82) and lot of Short Term Incentives are based on Underlying EBIT.
The problem with using "underlying" instead of standardized accounting EBIT is that it will be based on whatever the organization thinks is fairest. I don't have a problem with this if it gets rid of one-off expenses or disasters that management has no control over.
Problem is, I can't find anything in the ANnual report that explains how they calculated "underlying" EBIT for performance bonuses. It's not transparent. I got an accountant to have a brief look and after a short time he gave up and told me not to risk any money on the stock.
I emailed the company . In the AGM and other presentations they said to get in touch with any questions and seem very open in communication in the annual report too. So far I am still awaiting a response. I'm feeling cynical.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)