Glossary
Active workforce: Number of employees who have an active employment contract, excluding vocational trainees and employees in the passive phase of partial retirement.
Australian Medium Term Notes program (AMTN program): A master agreement between companies and bond dealers that allows companies to place securities on the Australian capital markets very quickly to obtain debt capital.
Payout ratio: The payout ratio means the proportion of the total amount of dividends attributable to common shares to earnings after tax attributable to TRATON SE shareholders. The payout ratio provides information about the allocation of earnings.
BEV: Battery electric vehicles and fuel cell electric vehicles
Commercial paper program (CP program): A master agreement between companies and bond dealers that allows companies to place unsecured, short-term debt instruments on the international money market very quickly to obtain debt capital.
Committee of Sponsoring Organizations of the Treadway Commission (COSO): Internationally recognized framework for enterprise risk management and internal control (ICS).
Compliance: Adherence to statutory provisions, internal corporate policies, and ethical principles.
Corporate governance: A commonly used international term that denotes responsible corporate management and control geared toward long-term value added.
CSRD: Corporate Sustainability Reporting Directive of the European Union
German Corporate Governance Code (the Code): Constitutes key statutory requirements for the management and supervision of listed German companies and contains internationally and nationally recognized standards of good, responsible corporate governance in the form of recommendations and suggestions.
Derivatives/derivative financial instruments: Financial instruments whose value is derived primarily from the price and price volatility/expectations of an underlying (e.g., stocks, foreign currency, interest-bearing securities).
Dividend yield: Dividend yield is defined as the ratio of the dividend for the reporting year to the closing price per share class on the final trading date of the reporting year and indicates the return per share. Dividend yield is used in particular for measuring and comparing shares.
ESG: Environmental, Social, Governance.
European Medium Term Notes program (EMTN program): A master agreement between companies and bond dealers that allows companies to place securities on the European capital markets very quickly to obtain debt capital.
Fair value: The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing, and independent parties in an arm’s length transaction.
Functional expenses: Functional expenses comprise the cost of sales, distribution expenses, and general and administrative expenses.
Price-earnings ratio: The price-earnings ratio is calculated by dividing the year-end closing price per share by earnings per share. It reflects the earnings power per share and provides information about its development compared over a number of years.
Market share: TRATON’s share of registrations of trucks and buses in the overall market.
OECD: Organisation for Economic Co-operation and Development
Option: Agreement under which the purchaser is entitled, but not obligated, to acquire (call option) or sell (put option) the underlying asset at a future date for a predefined price. By contrast, the seller of the option is obligated to sell or purchase the asset and usually receives a premium for granting the option rights.
Section 232: Section 232 of the Trade Expansion Act of 1962 is a key US trade policy tool that gives the US president the power to regulate imports if they could threaten national security. Section 232 allows the US president to impose measures such as tariffs, import quotas, or other trade restrictions if certain goods are considered strategically relevant to US defense, critical infrastructure, or key industries.
Other operating result comprises net impairment losses on financial assets, other operating income, and other operating expenses.
Swap: Agreement between two counterparties to swap cash payments over a certain period. Prime examples are currency swaps, under which principal amounts denominated in various currencies are exchanged, and interest rate swaps, which usually entail the exchange of fixed and variable interest payments in the same currency.
TMS: TRATON Modular System
Weighted Average Cost of Capital (WACC): WACC is derived from the return required by capital providers.
Registrations: Number of new vehicles registered for the first time in a country with the relevant registration authorities. The term “registrations” describes the size of the market for new vehicles and thus also the development of the market. Market share is also calculated from the registration data.