The following discussion of non-recurring effects takes into account the classification of the Water Management business as a discontinued operation2. 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 nine months of 2026, EBITDA was adjusted for special expenses related to the transformation of the organization totaling EUR 16.7 million (Q1–Q3 2025: EUR 5.7 million). Within EBIT, adjustments were also made for depreciation of property, plant, and equipment and amortization of intangible assets resulting from purchase price allocations totaling EUR 3.8 million (Q1–Q3 2025: EUR 54.2 million). In the same period of the previous year, the figures included a non-cash goodwill impairment charge in the EMEA region amounting to EUR 50 million.
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.
| | | |
Adjustments | |
|---|
in EUR thousand | Q1–Q3 2026 reported | Adjustments | Q1–Q3 2026 adjusted |
|---|
Group revenue | 628,299 |
| 628,299 |
|---|
Change in inventories of finished goods and work in progress | 1,314 |
| 1,314 |
Other own work capitalized | 1,850 |
| 1,850 |
|---|
Cost of materials | -279,424 | 228 | -279,196 |
Gross profit | 352,039 | 228 | 352,267 |
|---|
Other operating income and expenses | -99,351 | 5,738 | -93,613 |
Employee benefit expenses | -213,638 | 10,753 | -202,885 |
EBITDA | 39,050 | 16,719 | 55,769 |
|---|
Depreciation of property, plant, and equipment | -32,005 | 438 | -31,567 |
Amortization of intangible assets | -5,847 | 3,380 | -2,467 |
Operating profit (EBIT) | 1,198 | 20,537 | 21,735 |
|---|
Financial result | 1,518 |
| 1,518 |
Earnings before income taxes | 2,716 | 20,537 | 23,253 |
|---|
Income taxes | -16,059 | -5,476 | -21,535 |
Profit or loss for the period from continuing operations | -13,343 | 15,061 | 1,718 |
|---|
Non-controlling interests | 108 |
| 108 |
Profit or loss for the period from continuing operations attributable to owners of the parent | -13,451 | 15,061 | 1,610 |
|---|
Earnings per share from continuing operations (in EUR) | -0.46 | 0.51 | 0.05 |
Profit or loss for the period of the Group attributable to owners of the parent | 298,843 | -296,196 | 2,647 |
|---|
Earnings per share (in EUR) | 10.17 | -10.08 | 0.09 |
2 Any exceptions are identified accordingly.
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.