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%

Key influencing factors for earnings

Net financial income/expenses

Income taxes

Net income for the period