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%

Key influencing factors for earnings

Net financial income/expenses

Income taxes

Net income for the period