The management adjusts the result by certain expenses for the purpose of managing the Group’s operations. Adjustments are made in accordance with the management approach in segment reporting. Hence, the following adjusted results reflect the Management Board’s perspective.
In the first quarter of 2025, adjustments totaling EUR 1.2 million (Q1 2024: EUR 48 thousand) were made within EBITDA (earnings before interest, taxes, depreciation, and amortization). These include expenses related to the preparation of the planned sale of the Water Management business (EUR 0.7 million) and special expenses for the initiation of the organizational transformation planned from 2025 onwards (EUR 0.4 million). Within EBITA, depreciation of property, plant and equipment from purchase price allocations in the amount of EUR 0.2 million (Q1 2024: EUR 0.2 million) was recognized in the first quarter of 2025. In addition, amortization of intangible assets from purchase price allocations amounting to EUR 3.6 million (Q1 2024: EUR 5.1 million) was adjusted within EBIT.
Notional income taxes resulting from the adjustments are calculated using the tax rates of the respective local companies affected and included in the adjusted result after taxes. The following table shows the result adjusted for the effects mentioned here:
| |
|
|
|
|
Adjustments1
|
|
|
in EUR thousands
|
Q1 2025 reported
|
Total adjustments
|
Q1 2025 adjusted
|
|
Revenue
|
284,213
|
0
|
284,213
|
|
Change in inventories of finished goods and work in progress
|
-1,493
|
0
|
-1,493
|
|
Other own work capitalized
|
1,371
|
0
|
1,371
|
|
Cost of materials
|
-120,981
|
60
|
-120,921
|
|
Gross profit
|
163,110
|
60
|
163,170
|
|
Other operating income and expenses
|
-47,129
|
1,120
|
-46,009
|
|
Employee benefit expenses
|
-91,336
|
32
|
-91,304
|
|
EBITDA
|
24,645
|
1,212
|
25,857
|
|
Depreciation of property, plant and equipment
|
-14,673
|
181
|
-14,492
|
|
EBITA
|
9,972
|
1,393
|
11,365
|
|
Amortization of intangible assets
|
-4,630
|
3,573
|
-1,057
|
|
Operating profit (EBIT)
|
5,342
|
4,966
|
10,308
|
|
Financial result
|
-4,712
|
0
|
-4,712
|
|
Earnings before income taxes
|
630
|
4,966
|
5,596
|
|
Income taxes
|
-4,573
|
-1,285
|
-5,858
|
|
Profit for the period
|
-3,943
|
3,681
|
-262
|
|
Non-controlling interests
|
34
|
0
|
34
|
|
Profit for the period attributable to shareholders of the parent company
|
-3,977
|
3,681
|
-296
|
|
Earnings per share (in EUR)
|
-0.12
|
0.11
|
-0.01
|
|
1_Discrepancies in decimal places may occur due to commercial rounding.
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Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.