Earnings
EBIT and EBITDA
Earnings before interest and tax (EBIT) increased by 13.4 per cent year on year to reach €205.8 million (H1 2015: €181.5 million).
Although there was a volume-related improvement in gross profit of 7.4 per cent, selling expenses, administrative expenses and development costs also increased. Adjusted EBIT excluding non-recurring items and KION acquisition items amounted to €239.4 million (H1 2015: €209.8 million). The adjusted EBIT margin was 9.3 per cent, a year-on-year improvement of 0.6 percentage points (H1 2015: 8.7 per cent). > TABLE 05
EBIT |
|
|
|
|
|
05 |
in € million |
Q2 2016 |
Q2 2015 |
Change |
Q1 – Q2 2016 |
Q1 – Q2 2015 |
Change |
Net income for the period |
64.0 |
52.5 |
21.9% |
97.1 |
94.3 |
2.9% |
Income taxes |
–30.0 |
–24.3 |
–23.3% |
–45.5 |
–43.9 |
–3.6% |
Net financial expenses |
–22.8 |
–22.6 |
–1.0% |
–63.3 |
–43.3 |
–46.2% |
EBIT |
116.8 |
99.4 |
17.5% |
205.8 |
181.5 |
13.4% |
+ Non-recurring items |
17.1 |
10.2 |
68.6% |
20.0 |
14.6 |
36.6% |
+ KION acquisition items |
6.9 |
6.9 |
0.0% |
13.6 |
13.7 |
–0.5% |
Adjusted EBIT |
140.8 |
116.4 |
20.9% |
239.4 |
209.8 |
14.1% |
|
|
|
|
|
|
|
Adjusted EBIT margin |
10.5% |
9.3% |
– |
9.3% |
8.7% |
– |
Earnings before interest, tax, depreciation and amortisation (EBITDA) improved to €412.7 million, compared with €374.5 million in the corresponding period of 2015. Adjusted EBITDA rose to €430.0 million (H1 2015: €388.0 million). This equates to an adjusted EBITDA margin of 16.8 per cent (H1 2015: 16.0 per cent). > TABLE 06
EBITDA |
|
|
|
|
|
06 |
in € million |
Q2 2016 |
Q2 2015 |
Change |
Q1 – Q2 2016 |
Q1 – Q2 2015 |
Change |
EBIT |
116.8 |
99.4 |
17.5% |
205.8 |
181.5 |
13.4% |
Amortisation and depreciation |
106.0 |
97.5 |
8.7% |
207.0 |
193.0 |
7.2% |
EBITDA |
222.8 |
196.9 |
13.2% |
412.7 |
374.5 |
10.2% |
+ Non-recurring items |
15.4 |
9.6 |
60.2% |
17.2 |
13.4 |
28.3% |
+ KION acquisition items |
–0.0 |
0.1 |
<–100% |
0.0 |
0.1 |
–100.0% |
Adjusted EBITDA |
238.2 |
206.6 |
15.3% |
430.0 |
388.0 |
10.8% |
|
|
|
|
|
|
|
Adjusted EBITDA margin |
17.7% |
16.4% |
– |
16.8% |
16.0% |
– |