Earnings
EBIT and EBITDA
Earnings before interest and tax (EBIT) reached €260.2 million, which was 26.5 per cent above the same period of the previous year (H1 2016: €205.8 million excluding Dematic). This includes the negative purchase price allocation effects of €91.6 million (H1 2016: €13.6 million), which, in the six months under review, were largely attributable to the acquisition of the Dematic Group. EBIT adjusted for non-recurring items and purchase price allocation effects (adjusted EBIT) was up by 53.4 per cent on the prior-year period at €367.1 million (H1 2016: €239.4 million). The adjusted EBIT margin rose to 9.6 per cent (H1 2016: 9.3 per cent). > TABLE 05
EBIT |
05 |
|||||
in € million |
Q2 2017 |
Q2 2016 |
Change |
Q1 – Q2 2017 |
Q1 – Q2 2016 |
Change |
EBIT |
163.7 |
116.8 |
40.1% |
260.2 |
205.8 |
26.5% |
+ Non-recurring items |
5.6 |
17.1 |
–67.5% |
15.3 |
20.0 |
–23.6% |
+ PPA items |
45.0 |
6.9 |
>100% |
91.6 |
13.6 |
>100% |
Adjusted EBIT |
214.2 |
140.8 |
52.2% |
367.1 |
239.4 |
53.4% |
Earnings before interest, tax, depreciation and amortisation (EBITDA) improved to €573.7 million, compared with €412.7 million in the corresponding period of 2016. Adjusted EBITDA rose to €588.9 million (H1 2016: €430.0 million). This equates to an adjusted EBITDA margin of 15.4 per cent (H1 2016: 16.8 per cent excluding Dematic). > TABLE 06
EBITDA |
06 |
|||||
in € million |
Q2 2017 |
Q2 2016 |
Change |
Q1 – Q2 2017 |
Q1 – Q2 2016 |
Change |
EBITDA |
320.4 |
222.8 |
43.8% |
573.7 |
412.7 |
39.0% |
+ Non-recurring items |
5.6 |
15.4 |
–64.0% |
15.3 |
17.2 |
–11.3% |
+ PPA items |
0.0 |
0.0 |
– |
0.0 |
0.0 |
– |
Adjusted EBITDA |
326.0 |
238.2 |
36.8% |
588.9 |
430.0 |
37.0% |