Corporate and Other comprises administrative expenses for central Group functions that cannot be directly allocated to the business sectors.
Key figures |
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Change |
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€ million |
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2023 |
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2022 |
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€ million |
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% |
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Operating result (EBIT)1 |
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-713 |
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-801 |
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88 |
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-11.0% |
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EBITDA2 |
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-603 |
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-696 |
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93 |
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-13.4% |
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EBITDA pre1 |
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-397 |
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-579 |
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182 |
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-31.5% |
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The year-on-year improvement in the operating result, EBITDA and EBITDA pre in fiscal 2023 was due in particular to the positive currency result from cash flow hedging. Cross-business research and development costs amounting to € 94 million (2022: € 119 million) were allocated to Corporate.