Consolidated income statement
x € million |
|
Notes |
|
2020 |
|
2019 |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Continuing operations |
|
|
|
|
|
|
Net sales |
|
|
8,106 |
|
7,998 |
|
Cost of sales |
|
|
(5,330) |
|
(5,234) |
|
Gross margin |
|
|
|
2,776 |
|
2,764 |
|
|
|
|
|
|
|
Marketing and sales |
|
|
(1,149) |
|
(1,154) |
|
Research and development |
|
|
(398) |
|
(295) |
|
General and administrative |
|
|
(469) |
|
(478) |
|
Other operating income |
|
|
102 |
|
142 |
|
Other operating expense |
|
|
(200) |
|
(107) |
|
Operating profit |
|
|
|
662 |
|
872 |
|
|
|
|
|
|
|
Financial income |
|
|
44 |
|
30 |
|
Financial expense |
|
|
(111) |
|
(122) |
|
Profit before income tax expense |
|
|
|
595 |
|
780 |
|
|
|
|
|
|
|
Income tax expense |
|
|
(106) |
|
(145) |
|
Share of the profit of associates and joint ventures |
|
|
(64) |
|
(9) |
|
Other results related to associates and joint ventures |
|
|
32 |
|
63 |
|
Net profit from continuing operations |
|
|
|
457 |
|
689 |
|
|
|
|
|
|
|
Net profit from discontinued operations |
|
|
51 |
|
75 |
|
Net profit for the year |
|
|
|
508 |
|
764 |
|
|
|
|
|
|
|
Of which: |
|
|
|
|
|
|
- Attributable to non-controlling interests |
|
|
2 |
|
6 |
|
- Dividend on cumulative preference shares |
|
|
7 |
|
8 |
|
- Available to holders of ordinary shares |
|
|
499 |
|
750 |
|
|
|
|
|
|
|
|
Earnings per share (EPS) total (in €): |
|
|
|
|
|
|
- Net basic EPS |
|
|
|
2.91 |
|
4.27 |
- Net diluted EPS |
|
|
|
2.89 |
|
4.24 |
|
|
|
|
|
|
|
Earnings per share (EPS) continuing operations (in €): |
|
|
|
|
|
|
- Net basic EPS |
|
|
|
2.64 |
|
3.85 |
- Net diluted EPS |
|
|
|
2.62 |
|
3.83 |
The 2019 figures have been re-presented due to discontinued operations.
The accompanying notes are an integral part of these consolidated financial statements.
See Note 2 Alternative performance measures for the reconciliation to Adjusted EBITDA of €1,534 million (2019: €1,551 million) and other adjusted IFRS performance measures.