PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG PDF, 3.2 MB - Pfleiderer AG
Glossary Technical Glossary Ballastless track Rail track frequently constructed on a load-bearing asphalt sub-layer. This type of track is mainly used for high-speed rail links. Where asphalt is used as a sub-layer, concrete sleepers are laid directly on the asphalt. Alternatively, a concrete sub-layer can be used. In this case, bi-bloc concrete sleepers are integrated into the concrete sub-layer. The main advantages of ballastless track: high stability and low maintenance. Carrier material Wood-based materials which serve as the base for decorative surface facings (HPL, melamine-faced chipboard). The preferred materials are raw particleboard and MDF. Combined heat-power plant Also known as co-generation plant. A decentralized plant for generating energy, supplying Pfleiderer with electricity and production heat, particularly used in the production of wood-based board (Pfleiderer’s “Central Energy Unit”). Contipress A twin-band press used in the continuous production of particleboard, MDF or laminates. As the process is continuous, after pressing the board must be cut to a pre-defined length using a diagonal saw. The twin-band press enables both thickness and width of the material to be pre-set, so that the production line can then run using a wide variety of base materials. 126 EPF European Panel Federation – the industrial association of the engineered wood industry in Europe, with offices in Brussels. Among others, the EPF publishes an annual report describing international developments in the engineered wood industry. HDF – High-Density Fiberboard Engineered wood-based board consisting of wood fibers soaked in glue which are then pressed together under heat at very high compression. Preferred carrier material where high load-bearing properties and thin material thickness are required (e.g. laminated flooring). HPL – High-Pressure Laminate High-pressure laminate consists of several layers of core paper and a decorative face layer. The paper layers are impregnated with phenol and melamine resins and then compressed under heat. This surface material is extremely durable and is ideal for furniture and interior surfaces subject to heavy wear (e.g. kitchen worktops). MDF – Medium-Density Fiberboard Wood-based board comprising wood fibers impregnated with glue and compressed under heat. This material has a homogeneous structure and very smooth surface. It is especially used for three-dimensional furniture fronts, as well as for varnished or high-gloss surfaces. MFP – MultiFunctionPanel MultiFunctionPanel is an engineered wood board with facing and middle layers made of slender random-direction stands. MFP has high cross and longitudinal tensile strength, making it particularly suitable as a construction material for trade fair stands or interior fixings. MFC – Melamine-Faced Chipboard Particleboard with a finished surface, faced with melamine (decorative paper soaked in melamine resin). Using heat and pressure, the melamine film is compressed onto the board to give a durable plastic top surface. OSB – Oriented Strand Board Engineered wood board made of glue-soaked slender wooden strands arranged lengthwise and crosswise in layers to form a mat which is then compressed under heat. This board has a high bending strength, making it suitable for construction purposes. Particleboard/Chipboard Particleboard is produced by combining wood chips and/or smaller particles of other similar material (flax, hemp) with resin-based glue. The chips and particles are then hot pressed into board. Postforming elements This comprises particleboard or MDF board, faced with a layer of HPL. The facing is moulded around the edges of the carrier board at a pre-defined radius. This is done by heating the HPL facing and then moulding it mechanically. Rail track sleeper Two main types of sleeper are used in track construction. Monolithic sleepers are made of pre-stressed concrete and are capable of withstanding high loads – this type of sleeper is frequently constructed on a classic ballast sublayer. The bi-bloc sleeper, on the other hand, comprises two separate nonreinforced concrete units connected together by a steel grid. This type of design is mainly used when constructing RHEDA 2000® ballastless track.
Economic Glossary Asset deal Describes the acquisition of companies, or parts thereof, by assigning all or specific assets and liabilities of a company by way of singular succession. The opposite of a share deal, where only shares in the company are transacted. Capital employed The entire capital employed in the company, i.e. fixed assets plus current assets, less provisions (excluding provisions for pensions), and liabilities (excluding financial liabilities). Cash flow A measure used when analyzing balance sheets, companies and shares in order to assess a company’s financial strength and profitability. The cash flow defines the inflow of liquid funds to a company from sales and other sources over a certain period. Derivative financial instruments Derivative financial instruments are used to hedge against and minimize risks arising when transactions are exposed to potential changes in currency exchange rates or market interest rates. Hedging is performed using swaps, options or futures. Discontinued operations According to US-GAAP business segments which are ear marked for disposal or separation are shown separately under “discontinued operations” in the income statement and balance sheet. 127 EBITDA Earnings before interest, taxes, depreciation and amortization. EBITDA describes a company’s profit margin and is a key figure when assessing its earnings power. EBIT Earnings before interest and taxes. EBT Earnings before taxes. EPS Earnings per share. Consolidated earnings divided by the weighted number of shares. IFRS – International Financial Reporting Standards The International Financial Reporting Standards have been drafted to ensure that corporate financial reporting and publication standards are comparable worldwide. From 2005, all capital market holding companies listed on a regulated stock market within the EU are obliged to draw up their financial statements in accordance with IFRS rules. In 2003 and 2004, Pfleiderer AG compiled its financial statements according to US-GAAP (United States Generally Accepted Accounting Standards). As from 2005, the Company will be accounting according to IFRS rules. Impairment test A test for determining whether an intangible asset (or goodwill) has depreciated in value based on future discounted cash flow. IN BRIEF GLOSSARY Long Term Incentive Program A motivation program geared to the long term to encourage staff loyalty, incorporating schemes to allow employees a share in the success of the company. ROCE Return On Capital Employed. Stock options Form of remuneration entailing the issue of subscription rights to members of management and employees, conferring on them the right to acquire shares in their own company, provided they achieve certain goals under certain conditions.
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Glossary<br />
Technical Glossary<br />
Ballastless track<br />
Rail track frequently constructed on a<br />
load-bearing asphalt sub-layer. This type<br />
of track is mainly used for high-speed<br />
rail links. Where asphalt is used as a<br />
sub-layer, concrete sleepers are laid<br />
directly on the asphalt. Alternatively, a<br />
concrete sub-layer can be used. In this<br />
case, bi-bloc concrete sleepers are<br />
integrated into the concrete sub-layer.<br />
The main advantages of ballastless<br />
track: high stability and low maintenance.<br />
Carrier material<br />
Wood-based materials which serve as<br />
the base for decorative surface facings<br />
(HPL, melamine-faced chipboard). The<br />
preferred materials are raw particleboard<br />
and MDF.<br />
Combined heat-power plant<br />
Also known as co-generation plant.<br />
A decentralized plant for generating<br />
energy, supplying <strong>Pfleiderer</strong> with electricity<br />
and production heat, particularly<br />
used in the production of wood-based<br />
board (<strong>Pfleiderer</strong>’s “Central Energy<br />
Unit”).<br />
Contipress<br />
A twin-band press used in the continuous<br />
production of particleboard, MDF or<br />
laminates. As the process is continuous,<br />
after pressing the board must be cut<br />
to a pre-defined length using a diagonal<br />
saw. The twin-band press enables both<br />
thickness and width of the material to<br />
be pre-set, so that the production line<br />
can then run using a wide variety of<br />
base materials.<br />
126<br />
EPF<br />
European Panel Federation – the industrial<br />
association of the engineered<br />
wood industry in Europe, with offices<br />
in Brussels. Among others, the EPF<br />
publishes an annual report describing<br />
international developments in the engineered<br />
wood industry.<br />
HDF – High-Density Fiberboard<br />
Engineered wood-based board consisting<br />
of wood fibers soaked in glue which<br />
are then pressed together under heat<br />
at very high compression. Preferred<br />
carrier material where high load-bearing<br />
properties and thin material thickness<br />
are required (e.g. laminated flooring).<br />
HPL – High-Pressure Laminate<br />
High-pressure laminate consists of<br />
several layers of core paper and a decorative<br />
face layer. The paper layers are<br />
impregnated with phenol and melamine<br />
resins and then compressed under<br />
heat. This surface material is extremely<br />
durable and is ideal for furniture and<br />
interior surfaces subject to heavy wear<br />
(e.g. kitchen worktops).<br />
MDF – Medium-Density Fiberboard<br />
Wood-based board comprising wood<br />
fibers impregnated with glue and compressed<br />
under heat. This material has<br />
a homogeneous structure and very<br />
smooth surface. It is especially used<br />
for three-dimensional furniture fronts,<br />
as well as for varnished or high-gloss<br />
surfaces.<br />
MFP – MultiFunctionPanel<br />
MultiFunctionPanel is an engineered<br />
wood board with facing and middle layers<br />
made of slender random-direction<br />
stands. MFP has high cross and longitudinal<br />
tensile strength, making it particularly<br />
suitable as a construction material<br />
for trade fair stands or interior fixings.<br />
MFC – Melamine-Faced Chipboard<br />
Particleboard with a finished surface,<br />
faced with melamine (decorative paper<br />
soaked in melamine resin). Using heat<br />
and pressure, the melamine film is<br />
compressed onto the board to give a<br />
durable plastic top surface.<br />
OSB – Oriented Strand Board<br />
Engineered wood board made of<br />
glue-soaked slender wooden strands<br />
arranged lengthwise and crosswise<br />
in layers to form a mat which is then<br />
compressed under heat. This board<br />
has a high bending strength, making it<br />
suitable for construction purposes.<br />
Particleboard/Chipboard<br />
Particleboard is produced by combining<br />
wood chips and/or smaller particles of<br />
other similar material (flax, hemp) with<br />
resin-based glue. The chips and particles<br />
are then hot pressed into board.<br />
Postforming elements<br />
This comprises particleboard or MDF<br />
board, faced with a layer of HPL. The<br />
facing is moulded around the edges<br />
of the carrier board at a pre-defined<br />
radius. This is done by heating the HPL<br />
facing and then moulding it mechanically.<br />
Rail track sleeper<br />
Two main types of sleeper are used in<br />
track construction. Monolithic sleepers<br />
are made of pre-stressed concrete<br />
and are capable of withstanding high<br />
loads – this type of sleeper is frequently<br />
constructed on a classic ballast sublayer.<br />
The bi-bloc sleeper, on the other<br />
hand, comprises two separate nonreinforced<br />
concrete units connected<br />
together by a steel grid. This type of<br />
design is mainly used when constructing<br />
RHEDA 2000® ballastless track.