* EBITDA before once-off acquisition costs and exceptional item (2011) including annualised EBITDA of companies acquired during the year.
Costs of €3.3 million were incurred during the year on the acquisition activity undertaken over the last 12 months. These costs were primarily professional fees for due diligence, legal negotiations and contracts and banking services. Given the size of these costs in the year they are shown separately on the face of the income statement.
The Group completed the acquisition of five businesses during the year. The net cash outflow on these acquisitions was €102.3 million with deferred consideration payable of €38.1 million. The net assets acquired with these acquisitions were €56.3 million with goodwill of €84.1 million.
The Group announced a programme to buyback and cancel 5 million shares during 2011. This programme was completed during 2012. At 30 September 2011, 4.6 million of the shares had been bought back and cancelled.
The Group’s share of investment in the Medco joint venture had been classified as an asset held for sale at 30 September 2011. This asset was sold to our joint venture partners in October 2011 for Stg£8.2 million.