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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2021 |
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2020 |
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€ million |
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% |
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Operating result (EBIT)1 |
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-632 |
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-658 |
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26 |
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-4.0% |
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EBITDA2 |
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-527 |
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-573 |
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47 |
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-8.1% |
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EBITDA pre1 |
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-465 |
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-495 |
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31 |
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-6.2% |
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After eliminating adjustments, administration expenses amounted to € 404 million in fiscal 2021 (2020: € 311 million). Cross-business research and development costs amounting to € 67 million (2020: € 62 million), such as expenses for the Innovation Center, were allocated to Corporate. After eliminating adjustments, other operating expenses (net) decreased to € -87 million (2020: € -197 million). The change compared with prior year was mainly attributable to the positive development of the currency result, especially thanks to foreign currency hedging. After eliminating depreciation, amortization, and adjustments, EBITDA pre amounted to € -465 million in 2021 (2020: € -495 million).