ROCE falling
ROCE(€ million) | H1 | Change | |||
2018 | 2017 | absolute | % | ||
EBIT adjusted 1) | 974 | 1,179 | – 205 | – 17.4 | |
Capital employed as of Jun 30 2) | 36,201 | 34,506 | + 1,695 | + 4.9 | |
ROCE (%) | 5.4 | 6.8 | – | – | |
Target value (%) | ≥ 8.0 | ≥ 9.0 | – | – | |
1) Figures extrapolated to the full year for calculation purposes.
2) Figure as of June 30, 2017 adjusted.
ROCE fell as a result of the decline in adjusted EBIT combined with an increase in capital employed. The increase in capital employed resulted mainly from capital expenditure activities and working capital effects.