The spin-off of Vitesco Technologies on September 15, 2021, resulted in the application of IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, in the comparative period. Vitesco Technologies is reported as discontinued operations in the comparative period.
The items in the consolidated statement of income show the figures for continuing operations in the reporting and comparative periods. Net income in the comparative period comprises earnings after tax from continuing and discontinued operations.
| € millions | See Note | 2022 | 2021 |
| Sales | 6 | 39,408.9 | 33,765.2 |
| Cost of sales | -31,100.6 | -26,024.9 | |
| Gross margin on sales | 8,308.3 | 7,740.3 | |
| Research and development expenses | 7 | -4,165.3 | -3,530.4 |
| Selling and logistics expenses | -2,598.1 | -2,391.7 | |
| Administrative expenses | -1,090.5 | -1,004.9 | |
| Other income | 8 | 2,091.0 | 2,099.8 |
| Other expenses | 8 | -1,819.7 | -1,122.5 |
| Income from equity-accounted investees | 10 | 28.3 | 54.8 |
| Other income from investments | 10 | 0.8 | 0.4 |
| EBIT | 754.8 | 1,845.8 | |
| Interest income1 | 11 | 83.6 | 82.9 |
| Interest expense | 11 | -234.8 | -180.4 |
| Effects from currency translation | 11 | -59.6 | -128.1 |
| Effects from changes in the fair value of derivative instruments, and other valuation effects | 11 | 12.8 | 69.5 |
| Financial result1 | 11 | -198.0 | -156.1 |
| Earnings before tax from continuing operations1 | 556.8 | 1,689.7 | |
| Income tax expense | 12 | -444.6 | -359.5 |
| Earnings after tax from continuing operations1 | 112.2 | 1,330.2 | |
| Earnings after tax from discontinued operations | n. a. | 156.9 | |
| Net income1 | 112.2 | 1,487.1 | |
| Non-controlling interests | -45.6 | -51.9 | |
| Net income attributable to the shareholders of the parent1 | 66.6 | 1,435.2 | |
| Earnings per share (in €) relating to | |||
| Basic earnings per share from continuing operations1 | 39 | 0.33 | 6.39 |
| Consolidated basic earnings per share1 | 39 | 0.33 | 7.18 |
| Diluted earnings per share from continuing operations1 | 39 | 0.33 | 6.39 |
| Consolidated diluted earnings per share1 | 39 | 0.33 | 7.18 |
1 In the year under review, the Continental Group changed the methodology used for the recognition of uncertain tax positions. The comparative period has been adjusted accordingly. For more information, see Note 2 (General Information and Accounting Principles) of the notes to the consolidated financial statements.
