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Corporate and Other

Corporate and Other comprises Group administration expenses for 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.


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Corporate and other

Key figures

€ million 2015 2014 Change
in %
Operating result (EBIT) – 432.3 – 245.1 76.3
EBITDA – 411.0 – 226.0 81.8
EBITDA pre exceptionals – 360.1 – 166.0 116.9
Business free cash flow – 421.2 – 214.7 96.2

In 2015, administration expenses reported under Corporate and Other amounted to € 246 million (2014: € 195 million). Other operating expenses (net) rose to € – 180 million (2014: € – 42 million). This was due primarily to the development of the foreign currency result from operating activities. Whereas foreign currency gains of € 53 million were reported in 2014, a loss of € – 72 million was incurred in 2015. Taking these effects into account, in 2015 EBIT amounted to € – 432 million (2014: € – 245 million) and EBITDA was € – 411 million (2014: € – 226 million). Adjusted for one-time effects, EBITDA pre exceptionals totaled € – 360 million (2014: € – 166 million). This had a significant impact on the development of business free cash flow, which dropped to € – 421 million in 2015 (2014: € – 215 million).