Note 6: Operating income
In 2021, operating income was up 16% at €1,118 million (2020: €963 million). Significant price increases and volume increases contributed to offset raw material cost inflation and supply constraints. Operating income further includes net positive identified items of €26 million, mainly related to gains from the Brazil ICMS case and UK ACT case (refer to Note 4 for further details on identified items), partly offset by transformation initiatives (2020: €136 million negative identified items, mainly relating to transformation initiatives). OPI margin improved to 11.7% (2020: 11.3%).
In € millions |
Employee benefits |
Amortization |
Depreciation |
Purchases and other costs |
Total |
|---|---|---|---|---|---|
Cost of sales |
(529) |
— |
(155) |
(5,048) |
(5,732) |
Selling expenses |
(832) |
(50) |
(90) |
(1,020) |
(1,992) |
General and administrative expenses |
(267) |
(16) |
(23) |
(276) |
(582) |
Research and development expenses |
(168) |
(4) |
(13) |
(45) |
(230) |
Other results |
23 |
— |
— |
44 |
67 |
Total |
(1,773) |
(70) |
(281) |
(6,345) |
(8,469) |
In € millions |
Employee benefits |
Amortization |
Depreciation |
Purchases and other costs |
Total |
|---|---|---|---|---|---|
Cost of sales |
(524) |
— |
(160) |
(4,061) |
(4,745) |
Selling expenses |
(832) |
(48) |
(83) |
(953) |
(1,916) |
General and administrative expenses |
(319) |
(12) |
(40) |
(292) |
(663) |
Research and development expenses |
(175) |
(4) |
(14) |
(45) |
(238) |
Other results |
— |
— |
— |
(5) |
(5) |
Total |
(1,850) |
(64) |
(297) |
(5,356) |
(7,567) |
Operating income is defined in accordance with IFRS and includes the relevant identified items. Adjusted operating income excludes identified items.
Identified items are special charges and benefits, results on acquisitions and divestments, major restructuring and impairment charges and charges related to major legal, environmental and tax cases.
Operating income as a percentage of revenue.