84 / 90
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INCOME STATEMENT
(in thousands of euros)
12/31/2018
12/31/2017
Sales revenue
1,645,095 1,643,356
Changes in stock, finished products and
production in progress
9,251
(884)
Total production
1,654,346 1,642,472
Other revenues(a)
39,641
26,661
Total operating revenues
1,693,987 1,669,133
Consumed goods
(464,424)
(443,119)
Other purchases and external expenses
(352,485)
(338,332)
Taxes and duties
(11,615)
(12,171)
Personnel expenses (including temporary
workers)
(640,048)
(619,333)
EBITDA
225,416 256,178
Depreciation
(99,025)
(90,132)
Net provisions
9,166
5,352
Current operating profit (EBIT)
135,558 171,398
Non-recurring operating expenses
(13,693)
(7,329)
Non-recurring operating revenues
3,427
3,649
Operating profit
125,290 167,718
Financing expenses and revenue on cash
(2,503)
(2,421)
Revenue on cash
3,462
3,445
Financing expenses
(5,965)
(5,866)
Other interest revenue and expenses
7,847
(19,166)
Other financial items
42,635
60,852
Other interest expenses
(34,788)
(80,018)
Taxes (including CVAE
(Tax on Companies’ Added Value))
(33,839)
(39,182)
Profit (loss) for the period
96,794 106,951
Attributable as company shareholders’
equity
92,069 107,965
Interest not granting control over the
company
4,725
(1,014)
Earnings per share (in €)
1.73
2.04
Diluted earnings per share (in €)
1.72
2.02
(a) In order to provide readers of the financial statements with better information
that is in accordance with international standards, in the 2018 financial state-
ments the Company has continued classifying revenues related to CIR
(Research tax credit) as “Other Revenues”.
STATEMENT OF OVERALL EARNINGS
(in thousands of euros)
12/31/2018
12/31/2017
Profit (loss) for the period
96,794 106,951
Other items of overall income applied
to shareholders equity
Actuarial gains and losses out of employee
benefits (gross element)
(3,986)
671
Actuarial gains and losses out of employee
benefits (tax impact)
907
(302)
Restatements of treasury shares
(gross element)
(422)
220
Restatements of treasury shares
(tax impact)
122
(64)
Other items of overall income that will
cause a reclassification of income
Exchange rate differences resulting from
foreign business
3,794 (19,251)
Hedging instruments (gross element)
(12,004)
25,361
Hedging instruments (tax impact)
3,199
(7,085)
Other portions of global earnings,
after taxes
(8,389)
(451)
Total overall income for the period
88,404 106,500
Hedginginstrumentsconsistmainlyofforeignexchangehedginginstrumentsand,toa
lesserextent,rawmaterialhedginginstruments.Thenegativeamountof€12.0million
is due mainly to the rise in the USD, which resulted in a symmetrical decrease in the
fairvalueofthehedginginstrumentsputinplacetoprotectagainstthefalloftheUSD.
FINANCIAL DATA