Corporate Services segment

Business performance

The Corporate Services segment comprises holding companies and other service companies that provide services such as IT and general administration across all segments.

Revenue and earnings

Total segment revenue came to €214.6 million (2021: €168.0 million) and, as in previous years, mainly resulted from internal IT services.

The segment’s adjusted EBIT amounted to €308.1 million (2021: €274.2 million) and was largely attributable to internal income from equity investments. Excluding internal income from equity investments, adjusted EBIT amounted to minus €82.9 million (2021: minus €103.4 million). This improvement was largely due to significantly lower personnel expenses in connection with variable remuneration components.

Adjusted EBITDA stood at €335.4 million (2021: €300.2 million) or minus €55.6 million (2021: minus €77.3 million) if intra-group income from equity investments is excluded.