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 adj.)
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.

Adjusted net income
The adjusted 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 significant one-off effects (reconciliation items) are explained. The adjusted net income (loss) after taxes corresponds to the net income (loss) statement in accordance with the consolidated income statement after taking into account one-off effects.

Cash flow after investing activities in tangible and intangible assets (FCF adj.)
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.