Reconciliations
The adjusted net financial result changed from € -150.3 million in the first three months of 2023 to € -160.8 million in the first three months of 2024.
Reconciliation of adjusted net financial result
Reconciliation of adjusted net financial result | ||||||||
in € million | 3M 2023 | 3M 2024 | Change in % | 12M 2023 | ||||
Income from non-current securities and non-current loans | 13.7 | 20.0 | 46.0 | 60.6 | ||||
Interest received and similar income | 2.4 | 7.6 | >100 | 22.9 | ||||
Interest expense from non-derivative financial liabilities | -174.2 | -201.9 | 15.9 | -765.1 | ||||
Swaps (current interest expense for the period) | 7.8 | 13.4 | 71.8 | 49.3 | ||||
Capitalization of interest on borrowed capital Development | – | 0.1 | – | 0.6 | ||||
Income from investments | – | – | – | 6.6 | ||||
Adjusted net financial result | -150.3 | -160.8 | 7.0 | -625.1 | ||||
Accrued interest | -27.1 | -27.9 | 3.0 | -25.6 | ||||
Net cash interest* | -177.4 | -188.7 | 6.4 | -650.7 | ||||
- *Previous year's values (
2023) as reported.
Interim profits increased from € 1.5 million in the first three months of 2023 to € 1.9 million in the first three months of 2024. Scheduled depreciation and amortization rose from € 27.0 million in the first three months of 2023 to € 27.8 million in the first three months of 2024.
Overall, Adjusted EBT for continuing operations came to € 416.5 million in the first three months of 2024, compared to € 449.1 million in the first three months of 2023.
In the first three months of 2024, the profit for the period amounted to € 335.5 million (3M 2023: € -2,088.1 million).
The reconciliation of the profit for the period to Adjusted EBT (continuing operations) is as follows:
Reconciliation of Profit for the Period, Adjusted EBT, Adjusted EBITDA
Reconciliation of Profit for the Period/Adjusted EBT/Adjusted EBITDA | ||||||||
3M 2023* | 3M 2024 | Change in % | 12M 2023 | |||||
Profit for the period | -2,088.1 | 335.5 | – | -6,756.2 | ||||
Profit from discontinued operations | -7.7 | -12.0 | 55.8 | 148.1 | ||||
Profit from continued operations | -2,095.8 | 323.5 | – | -6,608.1 | ||||
Income taxes | -1,098.1 | 86.3 | – | -2,577.1 | ||||
Earnings before tax (EBT) | -3,193.9 | 409.8 | – | -9,185.2 | ||||
Non-recurring items | 29.7 | 19.2 | -35.4 | 147.9 | ||||
Net income from fair value adjustments | 3,612.2 | – | -100.0 | 10,651.2 | ||||
Non-scheduled depreciation/value-adjustments | – | 21.2 | – | 334.2 | ||||
Valuation effects and special effects in the financial result | 1.5 | -33.4 | – | -176.1 | ||||
Net income from investments accounted for using | 0.1 | – | -100.0 | 75.7 | ||||
Earnings contribution from non-core/other sales | -4.9 | 4.6 | – | 12.2 | ||||
Period adjustments from assets held for sale | 4.4 | -4.9 | – | 6.3 | ||||
Adjusted EBT (continued operations) | 449.1 | 416.5 | -7.3 | 1,866.2 | ||||
Straight-line depreciation | 27.0 | 27.8 | 3.0 | 110.2 | ||||
Adjusted net financial result | 150.3 | 160.8 | 7.0 | 625.1 | ||||
Intragroup profit/-losses | 1.5 | 1.9 | 28.4 | -17.7 | ||||
Adjusted EBITDA Total (continued operations) | 627.9 | 607.0 | -3.3 | 2,583.8 | ||||
- *Previous year's values (
2023) adjusted to current key figure and segment definition.
The reconciliation of Adjusted EBT (continuing operations) to operating free cash flow is as follows:
Reconciliation of Adjusted EBT, Operating Free Cash-Flow
Reconciliation of Adjusted EBT/Operating Free Cash-Flow | ||||||||
in € million | 3M 2023 | 3M 2024 | Change in % | 12M 2023 | ||||
Adjusted EBT (contineud operations) | 449.1 | 416.5 | -7.3 | 1,866.2 | ||||
Straight-line depreciation | 27.0 | 27.8 | 3.0 | 110.2 | ||||
Change in net current assets (working capital) according to | -68.3 | 67.6 | – | -340.2 | ||||
Carrying amount of recurring sales assets sold | 44.7 | 60.9 | 36.2 | 239.4 | ||||
Capitalized maintenace | -51.5 | -47.4 | -8.0 | -296.3 | ||||
Dividends and payouts to non-controlling shareholders | -0.2 | -0.3 | 50.0 | -40.5 | ||||
Income tax payments according to cash flow statement | 3.2 | -24.1 | – | -124.0 | ||||
Operating Free Cash-Flow | 404.0 | 501.0 | 24.0 | 1,414.8 | ||||