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Financials

Our cost efficiency and enhanced productivity resulted in solid growth across our key financial figures in the reporting year (revenue, adjusted EBITDA AL, free cash flow AL, etc.). We are focusing on the one hand on maximizing our capital gains to reinvest in sustainable growth and generate further momentum for our flywheel, and on the other on increasing our dividend yield. This is reflected in the approximately EUR 2 billion we invested in share buy-backs in the reporting year. We reported comprehensively on our planning for the coming years at our 2024 Capital Markets Day.

For further information on the development of our financial figures, please refer to the section “Development of business in the Group.” Our finance planning for the period 2024 through 2027 can be found in the section “Finance strategy,” and our outlook for 2025 and 2026 in the section “Forecast.”

AL – After Leases
Since the start of the 2019 financial year, we have taken the effects of the first-time application of IFRS 16 “Leases” into account when determining our financial performance indicators. “EBITDA after leases” (EBITDA AL) is calculated by adjusting EBITDA for depreciation of the right-of-use assets and for interest expenses on recognized lease liabilities. When determining “free cash flow after leases” (free cash flow AL), free cash flow is adjusted for the repayment of lease liabilities.
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