Corporate and Other comprises administrative expenses for central Group functions that cannot be directly allocated to the business sectors, such as Finance, Procurement, Legal, Communications, and Human Resources. Corporate costs additionally encompass expenses for central, non-allocated IT functions, including expenses related to the expansion and harmonization of IT systems within the Group as well as research and development costs spanning business sectors.
Key figures |
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Change |
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€ million |
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2022 |
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2021 |
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€ million |
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% |
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Operating result (EBIT)1 |
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-801 |
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-632 |
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-169 |
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26.7% |
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EBITDA2 |
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-696 |
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-527 |
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-169 |
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32.1% |
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EBITDA pre1 |
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-579 |
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-465 |
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-115 |
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24.7% |
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The operating result (EBIT) amounted to € -801 million in fiscal 2022 (2021: € -632 million). Earnings were impacted in particular by a negative currency result from cash flow hedging, which were reflected in higher net other operating expenses. After eliminating adjustments, administrative expenses amounted to € 399 million in 2022 (2021: € 390 million). Cross-business research and development costs amounting to € 119 million (2021: € 85 million) were allocated to Corporate. After eliminating depreciation, amortization, and adjustments, EBITDA pre amounted to € -579 million in 2022 (2021: € -465 million).