€ millions | See Note | 2019 | 2018 |
Sales | 6 | 44,478.4 | 44,404.4 |
Cost of sales | -33,893.4 | -33,299.5 | |
Gross margin on sales | 10,585.0 | 11,104.9 | |
Research and development expenses | 7 | -4,471.8 | -4,280.2 |
Selling and logistics expenses | -2,718.9 | -2,494.3 | |
Administrative expenses | -1,110.2 | -1,149.0 | |
Other income | 8 | 1,774.6 | 1,803.4 |
Other expenses | 8 | -4,203.2 | -1,027.5 |
Income from equity-accounted investees | 10 | -124.3 | 69.6 |
Other income from investments | 10 | 0.5 | 0.8 |
EBIT | -268.3 | 4,027.7 | |
Interest income | 11 | 147.2 | 122.9 |
Interest expense | 11 | -317.3 | -276.2 |
Effects from currency translation | 11 | -30.5 | -30.4 |
Effects from changes in the fair value of derivative instruments, and other valuation effects | 11 | -119.7 | 5.9 |
Financial result | 11 | -320.3 | -177.8 |
Earnings before tax | -588.6 | 3,849.9 | |
Income tax expense | 12 | -582.4 | -891.6 |
Net income | -1,171.0 | 2,958.3 | |
Non-controlling interests | -54.0 | -61.0 | |
Net income attributable to the shareholders of the parent | -1,225.0 | 2,897.3 | |
Basic earnings per share in € | 36 | -6.13 | 14.49 |
Diluted earnings per share in € | 36 | -6.13 | 14.49 |
IFRS 16, Leases, was adopted on and has been applied since January 1, 2019. It is applied using the modified retrospective approach, under which the previous year’s figures are not adjusted. As a result, some of these figures are not comparable with the prior-year period.