APC 2003 Annual Report Download - page 63
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11. Subsidiaries
Schneider Electric Industries SAS
Sales declined 4% to € 2.90 billion from € 3.02 bil-
lion in 2002.
Operating income decreased by 65.5% to € 81.2 mil-
lion from € 235.7 million and represented 2.8% of
sales.
Net income came to € 494.6 million compared with
€ 398.9 million the year before.
Cofibel
Cofibel’s portfolio consists entirely of Schneider
Electric SA shares.
Income from continuing operations before tax came
to € 3.04 million compared with € 4.37 million in
2002.
Income after tax stood at € 2.54 million versus
€3.70 million the year before.
Cofimines
In 2003, income from continuing operations before
tax amounted to € 1.15 million compared with € 1.93
million in 2002.
After taking into account corporate income tax, net
income stood at € 0.86 million versus € 1.34 million
in 2002.
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