Reconciliation of EBITDA to operating profit | |||
in EUR m | 2025 | 2024 | 2023 |
EBITDA | 467.0 | 410.3 | 234.3 |
Long-term incentive plans (Notes 5.1, 5.2) | (48.5) | (16.6) | (12.0) |
Restructuring costs, net of releases (Notes 2.4, 5.1) | (57.7) | (9.5) | 0.5 |
Transaction-related costs | (2.3) | (0.6) | (1.2) |
Operating taxes (non-income taxes) | (7.1) | (13.8) | (4.6) |
Depreciation (Notes 3.4, 3.7) | (172.4) | (164.4) | (151.9) |
Amortization (Note 3.6) | (19.0) | (19.7) | (25.3) |
Impairment charges, net of reversals (Note 3.4) | - | (0.2) | (0.2) |
Other gains and (losses), net (Note 2.5) | 1.3 | (2.1) | (0.5) |
Management fees, net | 0.6 | 0.8 | 0.4 |
Operating profit | 161.9 | 184.2 | 39.5 |