Corporate Services segment
Business performance
The Corporate Services segment comprises holding companies and other service companies that provide services such as IT, logistics, and general administration across all segments.
Revenue and earnings
Total segment revenue, which came to €351.9 million (2019: €334.1 million), again mainly resulted from internal IT and logistics services. Adjusted EBIT for the segment fell sharply to €124.2 million (2019: €315.1 million). The decreases in earnings at the subsidiaries meant reduced income under profit-and-loss transfer agreements. As a result, intra-group dividend income amounted to just €160.2 million (2019: €388.0 million). Excluding intra-group dividend income, adjusted EBIT was minus €35.9 million (2019: minus €72.9 million); lower personnel expenses and other savings contributed to this improvement. Adjusted EBITDA stood at €160.0 million, or minus €0.2 million if intra-group dividend income is excluded (2019: €347.0 million, or minus €41.1 million). The non-recurring items in EBIT under the capacity and structural program amounted to an expense of €9.2 million.
in € million |
2020 |
2019 |
Change |
|---|---|---|---|
Order intake |
351.9 |
334.1 |
5.3% |
Total revenue |
351.9 |
334.1 |
5.3% |
EBITDA |
150.2 |
345.1 |
–56.5% |
Adjusted EBITDA |
160.0 |
347.0 |
–53.9% |
EBIT |
114.5 |
313.2 |
–63.5% |
Adjusted EBIT |
124.2 |
315.1 |
–60.6% |