Consolidated statement of income
|
Consolidated statement of income (*) |
|
|
|
|
(thousands of Euro) |
2008 |
2007 pro-forma |
Notes |
|
Revenues |
2,127,941 |
2,048,632 |
|
|
Materials and subcontracted work |
997,235 |
1,000,321 |
|
|
Payroll and related costs |
88,334 |
81,567 |
|
|
Industrial depreciation and amortization |
16,051 |
16,583 |
|
|
Other manufacturing costs |
44,554 |
41,701 |
|
|
Cost of sales |
1,146,174 |
1,140,172 |
|
|
Gross operating profit |
981,767 |
908,460 |
|
|
Distribution and transport |
65,699 |
60,031 |
|
|
Sales commissions |
88,797 |
86,237 |
|
|
Contribution margin |
827,271 |
762,192 |
|
|
Payroll and related costs |
167,724 |
155,907 |
|
|
Advertising and promotion (A) |
60,922 |
61,019 |
|
|
Depreciation and amortization |
83,629 |
73,634 |
|
|
Other expenses and income |
260,727 |
228,835 |
|
|
- of which non-recurring expenses/(income) |
(628) |
3,096 |
|
|
General and operating expenses |
573,002 |
519,395 |
|
|
- of which non-recurring expenses/(income) |
(628) |
3,096 |
|
|
Operating profit |
254,269 |
242,797 |
|
|
Share of income/(losses) of associated companies |
229 |
43 |
|
|
Financial expenses |
(79,301) |
(56,905) |
|
|
Financial income |
37,861 |
27,170 |
|
|
Net foreign currency hedging (losses)/gains and exchange differences |
(772) |
(10,333) |
|
|
Income before taxes |
212,286 |
202,772 |
|
|
Income taxes |
56,210 |
52,578 |
|
|
Net income from continuing operations |
156,076 |
150,194 |
|
|
Net income from discontinued operations |
1,107 |
195 |
|
|
Net income for the year attributable to: |
157,183 |
150,389 |
|
|
- shareholders of the Parent Company |
155,478 |
145,330 |
|
|
- minority interests |
1,705 |
5,059 |
|
|
Basic earnings per share (Euro) |
0.86 |
0.80 |
|
|
Diluted earnings per share (Euro) |
0.86 |
0.80 |
|
(*) On April 1, 2008 the Group sold its sports equipment manufacturing business to third parties, meaning that the income and expenses of the
discontinued operations have been reclassified and reported in a single line in the statement of income "Net income from discontinued
operations". The related figures for 2007 have also been reclassified to make them comparable with 2008 (the Explanatory notes to this annual
report contain a reconciliation between the actual and reclassified statements of income for 2007).
(A) Of which Euro 10,530 thousand charged by holding and related companies in 2008 (Euro 11,568 thousand in 2007).