Profit before tax and profit after tax

Profit after tax

In millions of euros
Before deduction of non-controlling interests and interest on hybrid capital.
* Business year 2017/18 retroactively adjusted.

EPS – Earnings per share

In euros

In keeping with both the operating result (EBITDA) and the profit from operations (EBIT), both profit before and after tax (net income) declined in the course of the business year. Based on net financial income of EUR –133.7 million (previous year: EUR –137.5 million), the profit before tax for the business year 2018/19 is EUR 645.7 million which, compared with the previous year’s level of EUR 1,042.5 million, equates to a decline of 38.1%.

The tax rate rose significantly year over year from 20.8% in the previous year to 29.0% in the past business year in connection with the aforementioned one-time effects.

As a result, the profit after tax is EUR 458.6 million—a decline of 44.4% from EUR 825.4 million in the previous year.