Preliminary remarks
The following explanations regarding special effects relate to continuing operations. Further information can be found in the section IMPACT OF THE DIVESTMENT OF WATER MANAGEMENT ON THE FINANCIAL REPORTING FOR THE THIRD QUARTER 2025.
For the operational management of the Group, the Management adjusts the result for certain expenses and income as part of realized M&A transactions. This also includes expenses and revenues related to divestments. In addition, adjustments are made for costs as part of the global transformation that began in the 2025 fiscal year. These may include costs for consulting services, costs for restructuring measures and relocations, and similar items. The adjustments are made according to the management approach in segment reporting. The adjusted results presented below therefore correspond to the Management view.
In the nine-month period of 2025, adjustments of EUR 5.7 million (Q1–Q3 2024: EUR 0.1 million) were made within EBITDA (earnings before interest, taxes, depreciation of property, plant and equipment, and amortization of intangible assets). Within EBITA, additional depreciation of property, plant and equipment from purchase price allocations amounting to EUR 0.5 million was made in the first nine months of 2025 (Q1–Q3 2024: EUR 0.5 million). In addition, amortization of intangible assets from purchase price allocations amounting to EUR 53.8 million was adjusted within EBIT (Q1-Q3 2024: EUR 8.0 million). In the current reporting period, this primarily includes a non-cash impairment of goodwill in the EMEA region as of September 30, 2025, amounting to EUR 50 million.
Fictitious income taxes resulting from the adjustments are calculated using the tax rates of the respective local companies concerned and taken into account in the adjusted result after taxes.
The following table shows the result adjusted for the effects mentioned here:
| |
|
|
|
|
Adjustments
|
|
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in EUR thousands
|
Q1-Q3 2025 reported
|
Adjustments
|
Q1-Q3 2025 adjusted
|
|
Revenue
|
631,790
|
—
|
631,790
|
|
Change in inventories of finished goods and work in progress
|
2,695
|
—
|
2,695
|
|
Other own work capitalized
|
3,041
|
—
|
3,041
|
|
Cost of materials
|
-288,055
|
7
|
-288,048
|
|
Gross profit
|
349,471
|
7
|
349,478
|
|
Other operating income and expenses
|
-105,095
|
2,962
|
-102,133
|
|
Employee benefit expenses
|
-209,916
|
2,750
|
-207,166
|
|
EBITDA
|
34,460
|
5,719
|
40,179
|
|
Depreciation of property, plant and equipment
|
-31,871
|
452
|
-31,419
|
|
EBITA
|
2,589
|
6,171
|
8,760
|
|
Amortization of intangible assets
|
-56,645
|
53,770
|
-2,875
|
|
Operating profit (EBIT)
|
-54,056
|
59,941
|
5,885
|
|
Financial result
|
-13,314
|
—
|
-13,314
|
|
Earnings before income taxes
|
-67,370
|
59,941
|
-7,429
|
|
Income taxes
|
-8,399
|
-2,635
|
-11,034
|
|
Profit for the period
|
-75,769
|
57,306
|
-18,463
|
|
Non-controlling interests
|
62
|
—
|
62
|
|
Profit for the period attributable to shareholders of the parent company
|
-75,831
|
57,306
|
-18,525
|
|
Earnings per share (in EUR)
|
-1.83
|
1.25
|
-0.58
|
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.