Expenses and income are adjusted in the context of realized M&A transactions. This also includes expenses and income in connection with divestments. These can include, for example, costs for legal advice, strategy consulting, due diligence, auditing, tax consulting, expert opinions, travel expenses and the like.
In addition, adjustments will be made for costs as part of the global transformation that began in the 2025 fiscal year. These may include costs for consulting services, transformation measures and relocations.
In addition, expenses from integration are adjusted within the first twelve months after acquisitions have taken place. This includes all forms of external consulting, severance costs, IT connection and other external implementation and integration costs.
In addition, effects from the purchase price allocation (PPA), such as expenses from depreciation of property, plant and equipment and intangible assets from revaluation effects, so-called step-up effects, are adjusted over time.
The following table shows the reconciliation for the adjusted result.
| |
|
|
|
|
|
|
|
|
Profit and loss net of adjustments
|
|
|
|
|
|
|
T027
|
|
in EUR thousand
|
Note
|
H1 2025 unadjusted
|
Special costs Water Management
|
Transformation costs
|
Step-up effects from purchase price allocations
|
Total adjustments
|
H1 2025 adjusted
|
|
Revenue
|
(5)
|
574,593
|
|
|
|
|
574,593
|
|
Changes in inventories of finished goods and work in progress
|
|
1,658
|
|
|
|
|
1,658
|
|
Other own work capitalized
|
|
3,077
|
|
|
|
|
3,077
|
|
Raw materials and consumables used
|
|
-246,501
|
|
|
60
|
60
|
-246,441
|
|
Gross profit
|
|
332,827
|
|
0
|
60
|
60
|
332,887
|
|
Other operating income and expenses
|
(6)
|
-95,498
|
2,200
|
1,757
|
|
3,957
|
-91,541
|
|
Employee benefits expense
|
(7)
|
-178,139
|
|
1,101
|
|
1,101
|
-177,038
|
|
EBITDA
|
|
59,190
|
2,200
|
2,858
|
60
|
5,118
|
64,308
|
|
Depreciation
|
|
-28,691
|
|
|
358
|
358
|
-28,333
|
|
EBITA
|
|
30,499
|
2,200
|
2,858
|
418
|
5,476
|
35,975
|
|
Amortization
|
|
-9,107
|
|
|
6,823
|
6,823
|
-2,284
|
|
Operating profit (EBIT)
|
|
21,392
|
2,200
|
2,858
|
7,241
|
12,299
|
33,691
|
|
Financial costs - net
|
(8)
|
-9,315
|
|
|
|
|
-9,315
|
|
Profit before income tax
|
|
12,077
|
2,200
|
2,858
|
7,241
|
12,299
|
24,376
|
|
Income taxes
|
|
-10,816
|
-580
|
-753
|
-1,908
|
-3,240
|
-14,056
|
|
Profit for the period
|
|
1,261
|
1,620
|
2,105
|
5,333
|
9,059
|
10,320
|
|
Non-controlling interests
|
|
45
|
|
|
|
|
45
|
|
Profit attributable to shareholders of the parent
|
|
1,216
|
1,620
|
2,105
|
5,333
|
9,059
|
10,275
|
|
Earnings per share (in EUR)
|
|
0.04
|
|
|
|
|
0.32
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit and loss net of adjustments
|
|
|
in EUR thousand
|
Note
|
H1 2024 unadjusted
|
Acquisition and integration costs
|
Step-up effects from purchase price allocations
|
Total adjustments
|
H1 2024 adjusted
|
|
Revenue
|
(5)
|
614,808
|
|
|
|
614,808
|
|
Changes in inventories of finished goods and work in progress
|
|
5,377
|
|
|
|
5,377
|
|
Other own work capitalized
|
|
2,116
|
|
|
|
2,116
|
|
Raw materials and consumables used
|
|
-270,806
|
|
121
|
121
|
-270,685
|
|
Gross profit
|
|
351,495
|
|
121
|
121
|
351,616
|
|
Other operating income and expenses
|
(6)
|
-97,010
|
108
|
|
108
|
-96,902
|
|
Employee benefits expense
|
(7)
|
-173,296
|
|
|
|
-173,296
|
|
EBITDA
|
|
81,189
|
108
|
121
|
229
|
81,418
|
|
Depreciation
|
|
-27,943
|
|
396
|
396
|
-27,547
|
|
EBITA
|
|
53,246
|
108
|
517
|
625
|
53,871
|
|
Amortization
|
|
-12,329
|
|
10,297
|
10,297
|
-2,032
|
|
Operating profit (EBIT)
|
|
40,917
|
108
|
10,814
|
10,922
|
51,839
|
|
Financial costs - net
|
(8)
|
-12,879
|
|
|
|
-12,879
|
|
Profit before income tax
|
|
28,038
|
108
|
10,814
|
10,922
|
38,960
|
|
Income taxes
|
|
-13,035
|
-27
|
-2,728
|
-2,755
|
-15,790
|
|
Profit for the period
|
|
15,003
|
81
|
8,086
|
8,167
|
23,170
|
|
Non-controlling interests
|
|
107
|
|
|
|
107
|
|
Profit attributable to shareholders of the parent
|
|
14,896
|
81
|
8,086
|
8,167
|
23,063
|
|
Earnings per share (in EUR)
|
|
0.47
|
|
|
|
0.72
|
The expenses adjusted under special costs for Water Management relate to preparations for the sale of the Water Management business.
Fictitious income taxes resulting from the adjustments are calculated using the tax rates of the respective local company concerned and taken into account in the adjusted result after taxes.
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.