Gearing Under 1 Year (excl. Intangibles)Gearing Under 1 Year (excl. intangibles), shows the proportion of total short-term borrowings to the total of shareholders' funds and debt funds, net of intangibles. Short-term borrowings refer to the company's liabilities, which must be paid on demand or within one year of the date on the Balance Sheet. This figure excludes intangibles and the calculation is the following:
= [creditors,short / (ord cap,reserves + prefs,minorities + creditors,short + creditors,long + creditors,other + subordinated loans + insurance funds - intangibles)] * 100
= [creditors,short / (TOTAL ASSETS - intangibles)] * 100
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