Chapters
Annual Report 2018

34. Non-GAAP Measures

In the internal management reports, GrandVision measures its performance primarily based on EBITDA and adjusted EBITDA (refer to note 5). These are non-GAAP measures not calculated in accordance with IFRS.

The table below presents the relationship with IFRS measures, the operating result and GrandVision non-GAAP measures, i.e. EBITDA.

in thousands of EUR

2018

2017

Adjusted EBITDA

576,423

551,512

Non-recurring items

- 19,847

- 17,475

EBITDA

556,576

534,037

Depreciation & amortization of software

- 150,177

- 136,431

EBITA

406,399

397,606

Amortization & impairments

- 69,075

- 70,828

Operating result

337,324

326,778

Adjusted earnings per share, basic (in EUR per share)

0.91

0.97

Adjusted earnings per share, diluted (in EUR per share)

0.91

0.96

Adjusted earnings per share is calculated by dividing the result for the year excluding the effect of non-recurring items (net of tax) attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the year.