Non-recurring Items

In the 2017 reporting period, the non-recurring items eliminated in the as a whole came to € 86.9 million, down by 8.0% on the prior-year value of € 94.5 million, mainly due to lower expenses for severance payments/pre-retirement part-time work arrangements.

Non-recurring Items

in € million

 

2016

 

2017

 

Change in %

*

Including takeover costs and one-time expenses in connection with acquisitions, such as HR measures relating to the integration process. Figures for the previous year shown in line with the current reporting structure for 2017

 

 

 

 

 

 

 

Business model optimization/development of new fields of business

 

19.5

 

23.3

 

19.5

Acquisition costs incl. integration costs*

 

48.3

 

48.1

 

-0.4

Refinancing and equity measures

 

3.2

 

1.6

 

-50.0

Severance payments/pre-retirement part-time work arrangements

 

23.5

 

13.9

 

-40.9

Total non-recurring items

 

94.5

 

86.9

 

-8.0

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)
Adjusted EBITDA is the result before interest, taxes, depreciation and amortization (including income from other operational investments) adjusted for effects that do not relate to the period, recur irregularly or that are atypical for business operation, and for net income from fair value adjustments to investment properties. These non-recurring items include the development of new fields of business and business processes, acquisition projects, expenses for refinancing and equity increases (where not treated as capital procurement costs), IPO preparation costs and expenses for pre-retirement part-time work arrangements and severance payments.