Corporate Services segment
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 increased year on year to €59.7 million (Q1 2022: €52.7 million).
Adjusted EBIT for the segment came to minus €28.0 million (Q1 2022: minus €4.6 million). Excluding internal income from equity investments, adjusted EBIT stood at minus €28.0 million, which was well below the figure for the prior-year period of minus €17.9 million. This was due to expenditure on strategic projects and an increase in personnel expenses in connection with variable remuneration components. Adjusted EBITDA stood at minus €21.8 million (Q1 2022: €1.6 million) or minus €21.8 million (Q1 2022: minus €11.7 million) if intra-group income from equity investments is excluded.