Financial performance indicators

Net value added

Net value added increased year over year from 26.3 billion euros to 31.6 billion euros. This year-on-year increase in net value added is primarily the result of increased payments to lenders, which can primarily be attributed to a reduction in medium and long-term debt. Please refer to pages 90 and 215 of our current Annual Report for more information on cash flow from financing activities as well as more information on financial liabilities.

In contrast to the statement of income, the net value added only takes account of real payment flows. That means that deferred tax expenses and the accrual of provisions do not impact the net value added of the reporting period. Although these costs are deducted from net profit in the statement of income, they are not linked to any current payments to stakeholder groups, as is the case with net value added. Outpayments in this respect are scheduled for the future and will only be accounted for in net value added in future years.

With this KPI , we fully cover the G4-EC1 (Direct economic value generated and distributed) GRI indicator.

A detailed clarification of our financial KPIs is available at

in bn. €.

in bn. €

In thousand €

Group-wide revenue per full-time equivalent (FTE ) increased during the reporting period to EUR 275,000.