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Consolidated Financial Statements as of December 31, 2015
Consolidated income statement
The Consolidated Financial Statements are presented in millions of euros, rounded to the nearest million. As a result, there may be rounding
differences between the amounts reported in the various statements.
Consolidated income statement
5.1
Notes
2015
2014
% change
(in millions of euros)
Net sales
5.1
76,945
74,706
3.0%
Loyalty program costs
(552)
(609)
(9.3)%
Net sales net of loyalty program costs
76,393
74,097
3.1%
Other revenue
5.1
2,464
2,221
10.9%
Total revenue
78,857
76,318
3.3%
Cost of sales
5.2
(60,838)
(59,270)
2.6%
Gross margin from recurring operations
18,019
17,049
5.7%
Sales, general and administrative expenses, depreciation and
amortization
5.2
(15,574)
(14,662)
6.2%
Recurring operating income
2,445
2,387
2.4%
Net income from companies accounted for by the equity method
7
44
37
21.4%
Recurring operating income after net income from companies
accounted for by the equity method
2,489
2,423
2.7%
Non-recurring income and expenses, net
5.3
(257)
149
(272.3)%
Operating income
2,232
2,572
(13.2)%
Finance costs and other financial income and expenses, net
12
(515)
(563)
(8.4)%
Finance costs, net
(347)
(399)
(12.9)%
Other financial income and expenses, net
(168)
(164)
2.6%
Income before taxes
1,717
2,010
(14.6)%
Income tax expense
8
(597)
(709)
(15.8)%
Net income from continuing operations
1,120
1,300
(13.9)%
Net income from discontinued operations
3.4
4
67
(94.7)%
Net income for the year
1,123
1,367
(17.9)%
Group share
980
1,249
(21.5)%
of which net income from continuing operations
977
1,182
(17.4)%
of which net income from discontinued operations
4
67
(94.7)%
Attributable to non-controlling interests
143
118
20.8%
Basic earnings/(loss) per share
(in euros)
2015
2014
% change
Earnings/(loss) from continuing operations per share
1.35
1.67
(19.2)%
Earnings from discontinued operations per share
0.00
0.09
(94.8)%
Basic earnings per share – Group share
1.36
1.77
(23.3)%
Diluted earnings/(loss) per share
(in euros)
2015
2014
% change
Diluted earnings/(loss) from continuing operations per share
1.35
1.67
(19.2)%
Diluted earnings from discontinued operations per share
0.00
0.09
(94.8)%
Diluted earnings per share – Group share
1.36
1.77
(23.3)%
Details of earnings per share calculations are provided in Note 11.6.
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2015 REGISTRATION DOCUMENT