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2021 Annual Report

Progress Arises from Change.

2021 Annual Report

 

Consolidated Statement of Income

1 2 3 4 5

The spin-off of parts of the former Powertrain segment has resulted in the application of IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. These parts make up most of the discontinued operations.

The items in the consolidated statement of income show the figures for continuing operations in the reporting and comparative periods. Net income comprises earnings after tax from continuing operations and discontinued operations.

€ millions See Note 2021 2020
Sales 7 33,765.2 31,864.4
Cost of sales   -26,024.9 -24,370.6
Gross margin on sales   7,740.3 7,493.8
Research and development expenses 8 -3,530.4 -3,352.8
Selling and logistics expenses   -2,391.7 -2,264.8
Administrative expenses   -1,004.9 -960.1
Other income 9 2,099.8 1,321.9
Other expenses 9 -1,122.5 -2,597.1
Income from equity-accounted investees 11 54.8 -69.5
Other income from investments 11 0.4 0.6
EBIT   1,845.8 -428.0
Interest income1 12 102.7 90.7
Interest expense1 12 -180.4 -264.2
Effects from currency translation 12 -128.1 -86.0
Effects from changes in the fair value of derivative instruments, and other valuation effects 12 69.5 71.6
Financial result 12 -136.3 -187.9
Earnings before tax from continuing operations   1,709.5 -615.9
Income tax expense 13 -359.5 50.3
Earnings after tax from continuing operations   1,350.0 -565.6
Earnings after tax from discontinued operations 6 156.9 -353.2
Net income   1,506.9 -918.8
Non-controlling interests   -51.9 -43.1
Net income attributable to the shareholders of the parent   1,455.0 -961.9
   
Earnings per share (in €) relating to      
Basic earnings per share from continuing operations 40 6.49 -3.02
Consolidated basic earnings per share 40 7.28 -4.81
Diluted earnings per share from continuing operations 40 6.49 -3.02
Consolidated diluted earnings per share 40 7.28 -4.81
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1 As of fiscal 2021, expected income from long-term employee benefits and from pension funds and interest expense from long-term employee benefits are reported net under interest expense.