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2018 Annual Report

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2018 Annual Report

Continental Corporation - 2018 Annual Report
 

Consolidated Statement of Income

1 2 3 4 5

Due to the application of the modified retrospective approach during the first-time adoption of IFRS 9, Financial Instruments, and IFRS 15, Revenue from Contracts with Customers, as at January 1, 2018, all the following figures from comparative periods are shown unadjusted.

€ millions See Note 2018 2017
Sales   44,404.4 44,009.5
Cost of sales   -33,299.5 -32,635.0
Gross margin on sales   11,104.9 11,374.5
Research and development expenses1 7 -4,280.2 -3,103.7
Selling and logistics expenses   -2,494.3 -2,430.2
Administrative expenses   -1,149.0 -1,144.3
Other income1 8 1,803.4 584.5
Other expenses 8 -1,027.5 -796.6
Income from equity-accounted investees 10 69.6 76.8
Other income from investments 10 0.8 0.5
EBIT   4,027.7 4,561.5
Interest income 11 122.9 94.4
Interest expense 11 -276.2 -281.5
Effects from currency translation 11 -30.4 -138.8
Effects from changes in the fair value of derivative instruments, and other valuation effects 11 5.9 40.2
Financial result 11 -177.8 -285.7
Earnings before tax   3,849.9 4,275.8
Income tax expense 12 -891.6 -1,227.5
Net income   2,958.3 3,048.3
Non-controlling interests   -61.0 -63.7
Net income attributable to the shareholders of the parent   2,897.3 2,984.6
   
Basic earnings per share in € 36 14.49 14.92
Diluted earnings per share in € 36 14.49 14.92
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1 Please see the “Revenue from contracts with customers” section in Note 6 regarding the changes in these items resulting from the first-time adoption of new IFRS standards.