Glossario

A - F

• Capital expenditure

  The purchases of tangible and intangible fixed assets.

• CFA

  Legislative Decree no. 58 of 24 February 1998 (the Consolidated Finance Act).

• EBITDA

  The operating profit before amortization and depreciation.

• Free Cash Flow

  The sum of the cash flow from/(for) operating activities and the cash flow from /(for) investing activities.

• Free float

  The percentage of shares in a listed company that are freely available to the investing public, meaning they are not held by a strategic reference shareholder.