The calculation of EVA

• EVA is company´s operating profit (after taxes) subtracted with the total cost of capital
• OR alternatively:
• EVA = (ROI - WACC) x Invested capital
• (15,5% - 9,0%) x 1190 MFIM = 80 MFIM

  Net operating profit after taxes
  Cost of capital
  EVA
  -
  =
  Operat. Profit 255 MFIM
  9 % WACC
  x 1190 MFIM invested capital
  184 MFIM
  -
  104 MFIM
  =
  80 MFIM
  -
  =
  => minus Taxes =>