Investor Relations

Investment
Proposition

Key Figures

Annual

  Group results from continuing operations (in € m)  2018   2017   y-on-y % 
  Adjusted revenues 1)  5,639   5,749  -1.9%  
  Opex (excl. D&A)  3,453   3,573  -3.4%  
  Adjusted EBITDA 1)  2,303   2,285  0.8%  
  Profit for the period  280   390  -28%  

1) Adjusted revenues and adjusted EBITDA are derived from revenues (including other income) and EBITDA, respectively, and are adjusted for the impact of restructuring costs and incidentals

Cashflow

  Group cash flow from continuing operations (in € m)  2018   2017   y-on-y % 
  Net cash flow  1,959   1,929   1.5% 
  Capex  1,106   1,131   -2.2% 
  Proceeds from real estate  5   2   >100% 
  Free cash flow  858   800   7,2% 

Fte

 FTEs  2018   2017   y-on-y %  
 Own personnel  12,669   13,275   -5.1%  

Profile

  Group financial profile (in € bn, unless stated otherwise)  2018   2017 
  Gross debt 2)  6.55   7.22 
  Net cash & cash equivalents  0.61   0.85 
  Net debt  5.89   6.04 
  Net debt / EBITDA  2.5x   2.6x 

2) Gross debt defined as the nominal value of interest bearing financial liabilities, excluding derivatives and related collateral, representing the net repayment obligations in Euro, taking into account 50% of the nominal value of the hybrid capital instruments 

Share

  Share info  2018   2017   y-on-y % 
  EPS from continuing operations (fully-diluted) 3)  0.06   0.08  -25%  
  Dividend per share (in € cents) - Total  13.3   12.7   4.7% 

3) Defined as profit after taxes per ordinary share / ADS (in €)