Chapters
Annual Report 2019

34. Non-GAAP Measures

In the internal management reports, GrandVision measures its performance primarily based on EBITDA, EBITA and adjusted EBITDA, adjusted EBITA (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. EBIT(D)A.

in thousands of EUR

2019

2018

Adjusted EBITDA

990,038

576,423

Depreciation and amortization Software

- 514,843

- 150,177

Adjusted EBITA

475,195

426,246

Non-recurring items

- 62,632

- 19,847

EBITDA

927,406

556,576

EBITA

412,563

406,399

Amortization & impairments

- 88,594

- 69,075

Operating result

323,969

337,324

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

0.91

0.91

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

0.90

0.91

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.