Consolidated income statement
x € million |
|
Notes |
|
2021 |
|
2020 |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Continuing operations |
|
|
|
|
|
|
Net sales |
|
|
9,204 |
|
8,106 |
|
Cost of sales |
|
|
(6,040) |
|
(5,330) |
|
Gross margin |
|
|
|
3,164 |
|
2,776 |
|
|
|
|
|
|
|
Marketing and sales |
|
|
(1,270) |
|
(1,149) |
|
Research and development |
|
|
(323) |
|
(398) |
|
General and administrative |
|
|
(517) |
|
(469) |
|
Other operating income |
|
|
95 |
|
102 |
|
Other operating expense |
|
|
(128) |
|
(200) |
|
Operating profit |
|
|
|
1,021 |
|
662 |
|
|
|
|
|
|
|
Financial income |
|
|
24 |
|
44 |
|
Financial expense |
|
|
(130) |
|
(111) |
|
Profit before income tax expense |
|
|
|
915 |
|
595 |
|
|
|
|
|
|
|
Income tax expense |
|
|
(168) |
|
(106) |
|
Share of the profit of associates and joint ventures |
|
|
16 |
|
(64) |
|
Other results related to associates and joint ventures |
|
|
326 |
|
32 |
|
|
|
|
|
|
|
|
Net profit from continuing operations |
|
|
|
1,089 |
|
457 |
Net profit from discontinued operations |
|
|
591 |
|
51 |
|
Net profit for the year |
|
|
|
1,680 |
|
508 |
|
|
|
|
|
|
|
Of which: |
|
|
|
|
|
|
- Attributable to non-controlling interests |
|
|
4 |
|
2 |
|
- Dividend on Cumulative Preference Shares |
|
|
6 |
|
7 |
|
- Available to holders of ordinary shares |
|
|
1,670 |
|
499 |
|
|
|
|
|
|
|
|
Earnings per share (EPS) total (in €): |
|
|
|
|
|
|
- Net basic EPS |
|
|
|
9.68 |
|
2.91 |
- Net diluted EPS |
|
|
|
9.63 |
|
2.89 |
|
|
|
|
|
|
|
Earnings per share (EPS) continuing operations (in €): |
|
|
|
|
|
|
- Net basic EPS |
|
|
|
6.26 |
|
2.64 |
- Net diluted EPS |
|
|
|
6.23 |
|
2.62 |
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 €1,814 million (2020: €1,534 million) and other adjusted IFRS performance measures.