Consolidated income statement
| € million |
Note |
2008 |
2007 |
Net sales |
7 |
25,722 |
24,893 |
| Cost of sales |
8 |
(18,798) |
(18,033) |
| Gross profit |
|
6,924 |
6,860 |
Selling expenses |
|
(4,973) |
(4,980) |
| General and administrative expenses |
|
(753) |
(812) |
| Total operating expenses |
8 |
(5,726) |
(5,792) |
| |
|
|
|
| Operating income |
|
1,198 |
1,068 |
Interest income |
|
110 |
133 |
| Interest expense |
|
(344) |
(427) |
| Other financial income (expense) |
|
20 |
(6) |
| Net financial expense |
9 |
(214) |
(300) |
| |
|
|
|
| Income before income taxes |
|
984 |
768 |
Income taxes |
10 |
(225) |
(153) |
| Share in income of joint ventures |
14 |
109 |
138 |
| Income from continuing operations |
|
868 |
753 |
Income from discontinued operations |
5 |
211 |
2,192 |
| Net income |
|
1,079 |
2,945 |
Attributable to: |
|
|
|
| Common shareholders |
|
1,074 |
2,931 |
| Non-controlling interests |
|
5 |
14 |
| Net income |
|
1,079 |
2,945 |
Earnings per share (in euros) |
28 |
|
|
| Net income per share attributable to common shareholders: |
|
|
|
| Basic |
|
0.91 |
2.03 |
| Diluted |
|
0.89 |
2.01 |
| Income per share from continuing operations attributable to common shareholders: |
|
|
|
| Basic |
|
0.74 |
0.52 |
| Diluted |
|
0.73 |
0.52 |
| Weighted average number of common shares outstanding (x 1,000): |
|
|
|
| Basic |
|
1,173,924 |
1,447,378 |
| Diluted |
|
1,237,813 |
1,456,484 |
The accompanying notes are an integral part of these consolidated financial statements.