Corio NV (LTS:0LNK) EBIT : €-228.3 Mil (TTM As of Dec. 2013)

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What is Corio NV EBIT?

Corio NV's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2013 was €-228.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2013 was €-228.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Corio NV's annualized ROC % for the quarter that ended in Dec. 2013 was -3.32%. Corio NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2013 was -975.64%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Corio NV's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2013 was -4.23%.

Corio NV EBIT Historical Data

The historical data trend for Corio NV's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Corio NV EBIT Chart

Corio NV Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

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-93.10

505.90

356.40

7.50

-228.30

Corio NV Semi-Annual Data
	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13
EBIT	Get a 7-Day Free Trial					-93.10	505.90	356.40	7.50	-228.30

Competitive Comparison of Corio NV's EBIT

For the REIT - Retail subindustry, Corio NV's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Corio NV's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Corio NV's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Corio NV's EV-to-EBIT falls into.

Corio NV EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2013 was €-228.3 Mil.

Corio NV (LTS:0LNK) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Corio NV's annualized ROC % for the quarter that ended in Dec. 2013 is calculated as:

	ROC % (Q: Dec. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2012 )	+	Invested Capital (Q: Dec. 2013 ))	/ count )
=	-228.3 * ( 1 - -11.21% )	/	( (7599	+	7674.4)	/ 2 )
=	-253.89243	/	7636.7
=	-3.32 %

where

	Invested Capital		(Q: Dec. 2012 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	7631	-	166.1	-	( 85.2	-	max(0, 358.8	-	224.7	+	85.2	))
=	7599

	Invested Capital		(Q: Dec. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	7459.6	-	233.4	-	( 32	-	max(0, 654.8	-	206.6	+	32	))
=	7674.4

Note: The Operating Income data used here is one times the annual (Dec. 2013) data.

2. Joel Greenblatt's definition of Return on Capital:

Corio NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2012		Q: Dec. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-228.3	/	( ( (23.7 + max(-26.7, 0))	+	(23.1 + max(-63.7, 0)) )	/	2 )
=	-228.3	/	( ( 23.7	+	23.1 )	/	2 )
=	-228.3	/	23.4
=	-975.64 %

where Working Capital is:

	Working Capital		(Q: Dec. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	139.5)	-	(166.1	+	0	+	0.10000000000002)
=	-26.7

	Working Capital		(Q: Dec. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	174.6)	-	(233.4	+	0	+	4.9)
=	-63.7

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2013) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Corio NV's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2013 )
	=	-228.3	/	5402.652
	=	-4.23 %

Corio NV EBIT Related Terms

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Corio NV (LTS:0LNK) Business Description

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Corio NV was formed in 2000 by the merger between VIB and WBN. It is a retail property company engaged in developing, redeveloping and managing retail properties such as shops and shopping centers, offices and industrial centers in the Netherlands, France, Italy, Spain, Turkey and Germany. The Company has grown from a Dutch mixed retail fund to a pan-European real estate company with a clear focus on retail. The Company has a presence in the largest consumer markets in continental Europe, management is fully in-sourced and the business has a solid financial position. In the changing retail landscape the Company is now ready to enter the next phase and take advantage of future opportunities and dynamics in the industry. The Company has set up an internal platform, called LaunchLab, focused on helping the Company to innovate and execute the Favorite Meeting Place strategy. The programme aims to discover new strategic insights, as well as support innovative ideas to quickly move into action, boosting revenues from other income streams. The Company has six local organisations: Corio Nederland, Corio France, Corio Italia, Corio EspaÃ±a, Corio TÃ¼rkiye and Corio Deutschland. They are responsible for the daily management of Corio's real estate portfolio. Corio N.V. (the Management Board and its general staff) retains the checks and balances. The general staff reports directly to the Management Board of Corio N.V. The green brick is a reward for the sustainable real estate investor of the year.

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