Earnings before interests and taxes. The EBIT is the profit before interet expenses and tax expenses are deducted. It shows the operational profit and is a measure of the profit generated by the assets of a business. Assets being defined as the total of fixed assets and working capital. Sometimes used interchangeably with operating profit or operating income (strictly speaking operating profit/income is before returns from associates and joint ventures). Often EBIT is not only the profit before interest expenses but the profit before ALL financial expenses and earnings.
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