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INCOME STATEMENT
(in €’000)
12/31/2017
12/31/2016
SALES REVENUE
1,643,356 1,571,104
Changes in stock, finished products and
production in progress
(884)
(1,519)
Total production
1,642,472 1,569,585
Other revenues
26,661
23,777
TOTAL OPERATING REVENUES
1,669,133 1,593,362
Consumed goods
(443,119)
(414,436)
Other purchases and external expenses
(338,332)
(325,957)
Taxes and duties
(12,171)
(11,353)
Personnel expenses (including temporary
workers)
(619,333)
(604,484)
EBITDA
256,178
237,132
Depreciation
(90,132)
(80,872)
Net provisions
5,352
1,200
EBIT
171,398
157,460
Non-recurring operating expenses
(7,329)
(12,950)
Non-recurring operating revenues
3,649
2,974
OPERATING PROFIT
167,718
147,483
Financing expenses and revenue on cash
(2,421)
(4,420)
Revenue on cash
3,445
1,146
Financing expenses
(5,866)
(5,566)
Other interest revenue and expenses
(19,166)
17,770
Other financial items
60,852
55,409
Other interest expenses
(80,018)
(37,639)
Taxes (including CVAE (Tax on Companies’
Added Value))
(39,182)
(54,443)
Share of net income of companies accounted
for by the equity method
0
0
PROFIT (LOSS) FOR THE PERIOD
106,951
106,390
Attributable as company shareholders’ equity
107,965
107,008
Interest not granting control over the company
(1,014)
(619)
EARNINGS PER SHARE (IN €)
2.04
2.02
DILUTED EARNINGS PER SHARE (IN €)
2.02
2.00
STATEMENT OF OVERALL EARNINGS
(in €’000)
12/31/2017
12/31/2016
PROFIT (LOSS) FOR THE PERIOD
106,951
106,390
Other items of overall income applied
to shareholders’ equity
Actuarial gains and losses out of employee
benefits (gross element)
671
(4,359)
Actuarial gains and losses out of employee
benefits (tax impact)
(302)
840
Restatements of treasury shares
(gross element)
220
145
Restatements of treasury shares (tax impact)
(64)
(50)
Other items of overall income that will cause
a reclassification of income
Exchange rate differences resulting
from foreign business
(19,251)
(2,874)
Hedging instruments (gross element)
25,361
(12,615)
Hedging instruments (tax impact)
(7,085)
3,587
OTHER PORTIONS OF GLOBAL EARNINGS,
AFTER TAXES
(451)
(15,326)
TOTAL OVERALL INCOME FOR THE PERIOD
106,500
91,064
Hedging instruments consist mainly of foreign exchange hedging instruments
and, to a lesser extent, raw material hedging instruments. The positive amount of
€25.4 million is due mainly to the decline in the USD, which resulted in a symmetrical
increase in the fair value of the hedging instruments put in place to protect against
the decline in the USD.
76
SHAREHOLDER GUIDE
FINANCIAL DATA