Adjusted EBT
The adjusted EBITDA total from continuing operations of € 2,625.1 million in the 2024 fiscal year was 1.6 % higher than the previous year’s figure of € 2,583.8 million.
In the reconciliation of Adjusted EBITDA to Adjusted EBT, the contributing factors were the adjusted net financial result of € -709.0 million (2023: € -625.1 million), depreciation and amortization of € -112.7 million (2023: € -110.2 million) and interim profits of € -3.8 million (2023: interim losses of € 17.7 million).
The adjusted EBT of continuing operations amounted to € 1,799.6 million in the 2024 fiscal year compared to € 1,866.2 million in the previous year.
In the 2024 fiscal year, the non-recurring items eliminated in the Adjusted EBT came to € 241.8 million (2023: € 147.9 million).
The following table gives a detailed list of the non-recurring items:
Non-recurring Items
Non-recurring Items | ||||||
in € million | 2023 | 2024 | Change in % | |||
Transactions* | 70.0 | 33.9 | -51.6 | |||
Personnel matters | 35.1 | 170.9 | >100 | |||
Business model optimization | 34.9 | 29.7 | -14.9 | |||
Research & development | 6.8 | 5.9 | -13.2 | |||
Refinancing and equity measures | 1.1 | 1.4 | 27.3 | |||
Total non-recurring items | 147.9 | 241.8 | 63.5 | |||
- *Including one-time expenses in connection with acquisitions, such as HR measures relating to the integration process and other follow-up costs.
The increase in HR-related scenarios within non-recurring items is due to the reassessment of the probability of claims being asserted in connection with legal disputes with a social insurance provider.