Alternative key performance figures

Operating income before depreciation and amortisation (EBITDA)/EBITDA margin 
Revenues less operating expenditure (costs of material and services, personnel expenses, other operating expenses) and the share of net income/(loss) of associates/joint ventures. The EBITDA margin corresponds to the EBITDA share in the revenues.

Operating income before effects of business combinations (EBIT b. PPA)
Operating income before depreciation and amortisation (EBITDA) less ongoing depreciation and amortisation. Amortisation resulting from business combinations and impairments are excluded. Amortisation resulting from business combinations includes the amortisation from customer bases, brand rights, publishing rights and capitalised software project costs acquired and recognised in connection with mergers.

Normalised consolidated income statement
The consolidated normalised net income statement is calculated from the consolidated income statement in accordance with IFRS through the inclusion or omission of one-off effects and presented in a reconciliation statement. The main normalisation and special effects (reconciliation items) are explained. Key figures of the consolidated normalised income statement are referred to as adjusted, for example EBIT (adj.).

Cash flow after investing activities in tangible and intangible assets (FCF b. M&A)
Cash flow from operating activities less cash flow used in investments in tangible and intangible assets, plus cash flow from disposals of tangible and intangible assets.