Annual Report 2017

Financial review

Summarized consolidated income statement

in millions of EUR

2017

% of revenue

2016

% of revenue

Revenue

3,450

100.0%

3,316

100.0%

Cost of sales and direct related expenses

- 924

-26.8%

- 901

-27.2%

Gross profit

2,526

73.2%

2,415

72.8%

Selling and marketing costs

- 1,749

-50.7%

- 1,668

-50.3%

General and administrative costs

- 452

-13.1%

- 393

-11.8%

Share of result of associates

2

0.1%

4

0.1%

Operating result

327

9.5%

358

10.8%

Fair value gain on remeasurement of Associate

38

1.1%

-

0.0%

Net financial result

- 15

-0.4%

- 10

-0.3%

Result before tax

350

10.1%

348

10.5%

Income tax

- 101

-2.9%

- 96

-2.9%

Result for the period

249

7.2%

252

7.6%