Earnings before interest, taxes and amortization (Glossary) of product know-how (EBITA (Glossary) ) were down 13% to €179 million (2007/2008: €206 million). The EBITA margin fell 0.9 percentage points to 8.0% (2007/2008: 8.9%).
Profit before income taxes declined by €18 million or 10% to €163 million (2007/2008: €181 million). At 30%, the Group’s effective tax rate was unchanged from the previous year (2007/2008: 30%).
Profit for the period (Glossary) fell to €114 million, €13 million or 10% below the comparable figure of €127 million for the previous year. This meant a lower return on net sales for the period of 5.1% (2007/2008: 5.5%).
Profit for the period before profit charges arising from the carve-out (Glossary) was down 13% to €117 million (2007/2008: €135 million) due to lower profit charges arising from the carve-out in the reporting year.
EBITA History. €m
