Glossary

Adjusted EBIT

Most important key figure and indicator for the sustainable earnings power of a company. The adjusted EBIT is adjusted earnings from continuing operations before interest and taxes. It is mainly adjusted for expenses and earnings, non-recurring or rare in nature (see neutral earnings).

Adjusted EBITDA

Adjusted earnings before interest, taxes, depreciation, and amortization.

Adjusted net income

An earnings figure after interest income, incomes taxes, and minority interests that has been adjusted to exclude certain extraordinary effects. The adjustments include book gains and losses on disposals, restructuring expenses, and other nonoperating income and expenses of a nonrecurring or rare nature (after taxes and minority interests). Adjusted net income also excludes Income/Loss (-) from discontinued operations, net.

American Depositary Receipts (ADR)

ADRs are depository certificates for foreign shares issued by US banks. They make it easier for foreign companies to gain access to US investors.