Fiscal year
Fiscal year
Fiscal year
% Change
(in millions of €)
2019
2018
Actual
Comp.
Orders
16,244
15,198
7%
4%
Revenue
15,225
14,445
5%
3%
therein: product business
5,530
5,302
4%
2%
Adjusted EBITA
1,500
1,574
(5)%
Adjusted EBITA margin
9.9 %
10.9 %
orders and revenue for smart infrastructure rose in all three businesses – solutions and services systems and software and the products business – and in all three reporting regions .
order growth was strongest in the solutions and services business on a sharply higher volume from large orders in the americas and europe c .
i .
s .
africa middle east .
revenue rose most strongly in the systems and software and the solutions and services businesses particularly in the americas .
revenue growth in the product business was due to low voltage products while revenue in the other products businesses came in close to prior-year levels due partly to less favorable conditions in short-cycle markets .
adjusted ebita declined due mainly to the systems and software business including negative effects related to grid control projects early in the year .
adjusted ebita also included higher expenses year-over-year related to expansion of smart building offerings and for grid edge activities .
severance charges were € 48 million in fiscal 2019 compared to € 34 million a year earlier .
smart infrastructure ’ s order backlog was € 10 billion at the end of the fiscal year of which € 7 billion are expected to be converted into revenue in fiscal 2020 .
smart infrastructure achieved its results in overall moderately growing markets in fiscal 2019 .
the grid markets benefited from the need for intelligent and flexible energy networks and for automation particularly in asia australia and the americas .
heavy industries and the infrastructure industry also developed favorably during fiscal 2019 driven by investments in oil and gas markets in data centers and in transportation infrastructure such as for e-mobility .
discrete industries which started strong in fiscal 2019 experienced a downturn in the second half of the fiscal year .
construction markets continued their stable growth during the fiscal year particularly in the u .
s .
and china and in the non-residential construction market overall .
growth in the important building electrification and automation market was driven by demand for building performance and sustainability offerings including strong demand for energy efficiency and digital services .
in fiscal 2020 market growth overall is expected to be lower than in fiscal 2019 due to an expected continuation of the downturn in the short-cycle markets economic uncertainty in a number of countries due to trade conflicts and other factors .
beginning with fiscal 2020 the distribution transformer business will be transferred to the operating company gas and power .
if this organizational structure had already existed in fiscal 2019 smart infrastructure would have posted orders of € 15 .
590 billion revenue of € 14 .
597 billion adjusted ebita of € 1 .
465 billion and an adjusted ebita margin of 10 .
0 % .

Question: If the new organizational structure had already existed in fiscal 2019, Smart Infrastructure would have posted what revenue in 2019? 
Answer: € 14.597 billion