7. Adjustments
The Management adjusts certain expenses and incomes for operational management purposes. Hence, the following results, which are adjusted by these expenses, reflect the Management Board’s perspective. Since the fiscal year 2020, only those expenses and income are adjusted within operating profit (EBIT) that are related to a business combination.
In fiscal year 2022 and 2021, no adjustments were made within EBITDA (earnings before interest, taxes, depreciation of property, plant and equipment and amortization of intangible assets).
As in the previous year, depreciation of property, plant and equipment from purchase price allocations in fiscal year 2022 in the amount of EUR 1,252 thousand (2021: EUR 1,533 thousand) within EBITA (earnings before interest, taxes and amortization of intangible assets) and amortization of intangible assets in the amount of EUR 21,197 thousand (2021: EUR 20,160 thousand) from purchase price allocations were adjusted within EBIT.
The theoretical taxes resulting from the adjustments are calculated using the respective tax rate of each Group entity and are taken into consideration in adjusted earnings after taxes.
The following table shows profit or loss net of these expenses:
Profit and loss net of adjustments | T071 | |||
|---|---|---|---|---|
in EUR thousands | 2022 | Step-up effects | Total | 2022 adjusted |
Revenue | 1,243,014 | 0 | 1,243,014 | |
Changes in inventories of finished goods and work in progress | 15,643 | 0 | 15,643 | |
Other own work capitalized | 2,780 | 0 | 2,780 | |
Raw materials and consumables used | -596,992 | 0 | -596,992 | |
Gross profit | 664,445 | 0 | 0 | 664,445 |
Other operating income and expenses | -197,849 | 0 | -197,849 | |
Employee benefits expense | -309,357 | 0 | -309,357 | |
EBITDA | 157,239 | 0 | 0 | 157,239 |
Depreciation | -51,626 | 1,252 | 1,252 | -50,374 |
EBITA | 105,613 | 1,252 | 1,252 | 106,865 |
Amortization | -29,098 | 21,197 | 21,197 | -7,901 |
Operating profit (EBIT) | 76,515 | 22,449 | 22,449 | 98,964 |
Financial costs - net | -12,595 | 0 | -12,595 | |
Profit before income tax | 63,920 | 22,449 | 22,449 | 86,369 |
Income taxes | -24,745 | -5,631 | -5,631 | -30,376 |
Profit for the period | 39,175 | 16,818 | 16,818 | 55,993 |
Non-controlling interests | 107 | 0 | 107 | |
Profit attributable to shareholders of the parent | 39,068 | 16,818 | 16,818 | 55,886 |
Earnings per share (in EUR) | 1.23 | 1.75 |
Profit and loss net of adjustments (continued) | ||||
|---|---|---|---|---|
in EUR thousands | 2021 | Step-up effects | Total | 2021 adjusted |
Revenue | 1,091,907 | 0 | 1,091,907 | |
Changes in inventories of finished goods and work in progress | 17,479 | 0 | 17,479 | |
Other own work capitalized | 3,018 | 0 | 3,018 | |
Raw materials and consumables used | -499,962 | 0 | -499,962 | |
Gross profit | 612,442 | 0 | 0 | 612,442 |
Other operating income and expenses | -159,939 | 0 | -159,939 | |
Employee benefits expense | -284,913 | 0 | -284,913 | |
EBITDA | 167,590 | 0 | 0 | 167,590 |
Depreciation | -46,591 | 1,533 | 1,533 | -45,058 |
EBITA | 120,999 | 1,533 | 1,533 | 122,532 |
Amortization | -28,932 | 20,160 | 20,160 | -8,772 |
Operating profit (EBIT) | 92,067 | 21,693 | 21,693 | 113,760 |
Financial costs - net | -12,410 | 0 | -12,410 | |
Profit before income tax | 79,657 | 21,693 | 21,693 | 101,350 |
Income taxes | -23,583 | -5,452 | -5,452 | -29,035 |
Profit for the period | 56,074 | 16,241 | 16,241 | 72,315 |
Non-controlling interests | 141 | 0 | 141 | |
Profit attributable to shareholders of the parent | 55,933 | 16,241 | 16,241 | 72,174 |
Earnings per share (in EUR) | 1.76 | 2.27 | ||
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.