in € million

 

2017

 

2016

 

% yoy

(1)

Research & Innovation reference figures are provided on a non-restated basis.

Net sales

 

23

 

7

 

n.m.

Energy Services

 

 

4

 

n.m.

Other Corporate & Business Services

 

23

 

3

 

n.m.

EBITDA

 

(244)

 

(237)

 

(2.8)%

EBIT

 

(308)

 

(301)

 

(2.4)%

Capex from continuing operations

 

(68)

 

(79)

 

14%

Research & innovation(1)

 

(55)

 

(52)

 

(4.5)%

FY 2017 underlying EBITDA costs were €(244) million, 3% more than in 2016. Energy Services’ EBITDA was €21 million, compared to €4 million in 2016. The improvement largely reflects the business restructuring in 2016 focused on renewable energy projects, and market opportunities it captured in the third quarter. Costs in Other Corporate & Business Services were €(264) million, €(23) million higher than in 2016, reflecting ongoing cost discipline offsetting inflation, whereas higher project costs and orphan costs relating to portfolio changes increased expenses.