EBIT on an IFRS basis totaled € 962 m versus € 1,534 m on an underlying basis. The difference of € 571 m is explained by the above-mentioned € 152 m adjustments on EBITDA level and € 419 m on “Depreciation, amortization & impairments”. The latter consist of:

  • € 277 m for the non-cash impact of purchase price allocation (PPA), consisting of amortization charges on intangible assets, which are adjusted in “Cost of goods sold” for € 2 m, "Commercial & administrative costs" for € 41 m, "Research & innovation costs" for € 3 m and "Other operating gains & losses" for € 231 m;
  • € 143 m for the net impact of impairments, which are non-cash in nature and are reported in “Portfolio management and reassessments”. These primarily related to the mothballing of the soda ash plant in Egypt for € (82) m and renewable energy assets for € (49) m.