13. Net income from discontinued operations
This line item summarizes the post-tax income of the sports equipment manufacturing business sold to the Tecnica group on April 1, 2008 by the subsidiary Benetton Ungheria Kft. The Benetton Group continued this manufacturing activity during 2008 in order to complete orders in progress at the date of sale. The statement of income figures relating to this discontinued operation (which were classified in the "other and unallocated" segment up until December 31, 2007) are presented in the following table:
|
(thousands of Euro) |
2008 |
2007 |
|
Revenues |
12,193 |
36,640 |
|
Cost of sales |
11,779 |
35,772 |
|
Gross operating profit |
414 |
868 |
|
Contribution margin |
414 |
868 |
|
General costs, operating costs and (capital gains) |
(1,002) |
489 |
|
Operating profit |
1,416 |
379 |
|
Income before taxes |
1,416 |
379 |
|
Income taxes |
309 |
184 |
|
Net income from discontinued operations |
1,107 |
195 |
Net income from discontinued operations mostly refers to the capital gain of Euro 1,140 thousand realized on the disposal of the sports equipment factory along with the business.
The discontinued operation had an immaterial amount of cash flow in 2008, except for that from the disposal of the assets mentioned above.