Condensed consolidated statement of income

The Specialty Chemicals business is reported as discontinued operations. Therefore, the results of the Specialty Chemicals business and the deal result on the sale of the Specialty Chemicals business are presented on the line Profit for the period from discontinued operations in the consolidated statement of income.

Condensed consolidated statement of income

Fourth quarter

 

January-December

2017

2018

in € millions

2017

2018

Continuing operations

2,283

2,308

Revenue

9,612

9,256

(1,300)

(1,357)

Cost of sales

(5,378)

(5,329)

983

951

Gross profit

4,234

3,927

(840)

(879)

SG&A costs

(3,370)

(3,318)

(4)

(4)

Other results

(39)

(4)

139

68

Operating income

825

605

(15)

(23)

Net financing expenses

(78)

(52)

2

6

Results from associates and joint ventures

17

20

126

51

Profit before tax

764

573

(81)

(6)

Income tax

(253)

(118)

45

45

Profit for the period from continuing operations

511

455

 

 

 

 

 

Discontinued operations

47

5,814

Profit for the period from discontinued operations

393

6,274

92

5,859

Profit for the period

904

6,729

 

 

 

 

 

Attributable to

75

5,849

Shareholders of the company

832

6,674

17

10

Non-controlling interests

72

55

92

5,859

Profit for the period

904

6,729

Q4 Operating income

Operating income decreased €71 million and included identified items relating to one-off non-cash pension costs (€57 million) based on a UK legal precedent set in October 2018 for the Guaranteed Minimum Pensions equalization regulations and cost for the second phase of the transformation (€56 million).