A3 click

One impression on an A3 sheet. The standard volume unit for digital sheet-fed production and the basis of OEM click-charge contracts.

B-BBEE

Broad-Based Black Economic Empowerment. The South African transformation framework; a supplier’s verified level affects its customers’ own procurement scorecards.

CCC

Cash conversion cycle. Debtor days plus inventory days less creditor days; the period between paying for inputs and collecting from customers.

CFADS

Cash flow available for debt service. Operating cash flow before financing, used as the numerator in the debt service cover ratio.

DSCR

Debt service cover ratio. CFADS divided by scheduled capital and interest payments. Below 1.0x, debt service is not covered from operations.

EBITDA

Earnings before interest, tax, depreciation and amortisation.

FSC

Forest Stewardship Council. Chain-of-custody certification evidencing that paper and board originate from responsibly managed sources.

IRR

Internal rate of return. The discount rate at which the net present value of the investor cash flows equals zero.

MIS

Management information system. In a print environment, the integrated estimating, job-ticketing, scheduling, stock and invoicing platform.

MOIC

Multiple of invested capital. Total proceeds divided by total capital contributed, without regard to timing.

ROIC

Return on invested capital. After-tax EBIT divided by capital employed.

s11(e) / s11(g) / s12C

Provisions of the South African Income Tax Act governing wear-and-tear allowances, leasehold improvement allowances and the accelerated allowance on new manufacturing plant respectively.

TAM

Total addressable market. Total annual spend on the relevant category across the defined market.

WACC

Weighted average cost of capital. The blended required return across debt and equity at the target capital structure.

Web-to-print

A client-facing ordering platform holding approved brand templates, permitting local ordering within centrally controlled parameters.