In the income statement, EBIT is revenue minus every operating cost, before financial charges and tax.
In physical trading, a deal’s EBIT starts from GP — which already takes off the purchase and the direct costs: freight, commissions, port expenses, insurance, bank fees — and subtracts the capacity or overhead costs that fall to the trade, for instance a fixed amount per tonne. It is what that deal contributes to the team’s result. GP sits above it; net income below.
EBIT is usually reported alongside EBIT per tonne and EBIT% of sales, so deals of different size and mix can be compared.