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Income Statement

Condensed consolidated statement of income for the second quarter

in € million H1 2017 H1 2016
Sales 4,320 3,907
EBITDA 689 603
Operating profit (EBIT) 441 375
Financial income and expense -62 -66
Profit before income tax expense 379 309
Income tax expense -66 -53
Share of the profit of associates/joint control entities -1 -36
Net profit 312 220
Of which:    
Profit attributable to non-controlling interests -2 -2
Net profit attributable to equity holders of DSM 310 218
Dividend on cumulative preference shares -4 -5
Net profit available to holders of ordinary shares 306 213
     
Average number of ordinary shares (million) 175.0 174.4
Net earnings per share (EPS) (in €) 1.75 1.22
     
Depreciation and amortization 248 228
Capital expenditures 197 160
Acquisitions 54 0
Workforce1 20,897 20,786
of which in the Netherlands1 3,861 4,026

1) Year-end 2016

Reconciliation to Alternative Performance Measures for the second quarter

in € million H1 2017 H1 2016
EBITDA 689 603
Acquisitions/divestments 7 -15
Restructuring 26 36
Other -1 0
Sub-total APM adjustments to EBITDA 32 21
Adjusted EBITDA 721 624
     
Operating profit (EBIT) 441 375
APM adjustments to EBITDA 32 21
Impairments of PPE and Intangible assets 5 0
Sub-total APM adjustments to operating profit (EBIT) 37 21
Adjusted operating profit (EBIT) 478 396
     
Net profit 312 220
APM adjustments to operating profit (EBIT) 37 21
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -9 -8
APM adjustments to share of the profit of
    associates/joint control entities
-2 11
Sub-total APM adjustments to net profit 26 24
Adjusted net profit 338 244
     
Net profit available to holders of ordinary shares 306 213
APM adjustments to net profit 26 24
Adjusted net profit available to holders of ordinary shares 332 237
     
Average number of ordinary shares (million) 175.0 174.4
Earnings per share (EPS) (in €):    
Net earnings per share 1.75 1.22
Adjusted net earnings per share 1.90 1.36