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Income Statement

Condensed consolidated statement of income for the first quarter

in € million Q1 2017 Q1 2016
Sales 2,159 1,913
EBITDA 334 271
Operating profit (EBIT) 206 160
Financial income and expense -33 -37
Profit before income tax expense 173 123
Income tax expense -30 -21
Share of the profit of associates/joint control entities 6 -17
Net profit 149 85
Of which:    
Profit attributable to non-controlling interests -1 -1
Net profit attributable to equity holders of DSM 148 84
Dividend on cumulative preference shares -1 -3
Net profit available to holders of ordinary shares 147 81
Average number of ordinary shares (million)    175.1 174.7
Net earnings per share (EPS) (in €) 0.84 0.46
Depreciation and amortization 128 111
Capital expenditures 85 63
Acquisitions 55 0
Workforce1 20,918 20,786
of which in the Netherlands1 3,948 4,026

1) Year-end 2016

Reconciliation to Alternative Performance Measures for the first quarter

in € million Q1 2017 Q1 2016
EBITDA 334 271
Acquisitions/divestments 0 1
Restructuring 12 24
Other -1 0
Sub-total APM adjustments to EBITDA 11 25
Adjusted EBITDA 345 296
Operating profit (EBIT) 206 160
APM adjustments to EBITDA 11 25
Impairments of PPE and Intangible assets 5 0
Sub-total APM adjustments to operating profit (EBIT) 16 25
Adjusted operating profit (EBIT) 222 185
Net profit 149 85
APM adjustments to operating profit (EBIT) 16 25
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -4 -6
APM adjustments to share of the profit of
    associates/joint control entities
2 5
Sub-total APM adjustments to net profit 14 24
Adjusted net profit 163 109
Net profit available to holders of ordinary shares 147 81
APM adjustments to net profit 14 24
Adjusted net profit available to holders of ordinary shares 161 105
Average number of ordinary shares (million) 175.1 174.7
Earnings per share (EPS) (in €):    
Net earnings per share 0.84 0.46
Adjusted net earnings per share 0.92 0.60