APC 2005 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2005 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

110
Consolidated Statement of Income
(in millions of euros except for earnings per share)
Dec. 31, 2004 Dec. 31, 2004
French
Adjustments
IFRS
GAAP
Revenue 10,365.3 (16.0) 10,349.3
Cost of sales (5,965.1) (212.3) (6,177.4)
Gross profit 4,400.2 (228.3) 4,171.9
Research and development expenses (535.2) 240.1 (295.1)
Selling, general and administrative expenses (2,554.3) (36.1) (2,590.4)
Operating profit 1,310.7 (24.3) 1,286.4
Finance expense, net (65.9) 6.6 (59.3)
Profit before tax 1,244.8 (17.7) 1,227.1
Exceptional items (96.3) 96.3 -
Income tax expense (333.1) (32.1) (365.2)
Profit of continuing operations 815.4 46.5 861.9
Amortization of goodwill (217.1) 217.1 -
Group share in income/(loss) of equity investments (3.6) (3.6)
Net income before minority interests 594.7 263.6 858.3
Minority interests (30.1) (4.3) (34.4)
Net income (attributable to Schneider Electric SA) 564.6 259.3 823.9
Basic earnings per share (in euros) 2.56 3.73
Diluted earnings per share (in euros) 2.55 3.72
Consolidated Statement of Cash Flows
(in millions of euros)
2004 Capitalization Reclassification Other 2004
French of of short-term IFRS
GAAP development provisions for
expenses contingencies
Profit attributable to equity holders of the parent 565 46 213 824
Net cash provided by operating activities before
changes in operating assets and liabilities 1,260 46 (24) - 1,282
Change in working capital (138) 24 16 (98)
Net cash provided by operating activities 1,122 46 0 16 1,184
Cash used by investment in operating assets (284) (46) 1 (329)
Cash used by financial and other investments (840) - (840)
Net cash used by investing activities (1,124) (46) 0 1 (1,169)
Net cash used by financing activities (1,976) (1,976)
Other 22 (17) 5
Net decrease in cash and cash equivalents (1,956) (1,956)
Cash and cash equivalents at
the beginning of the year 2,902 2,902
Net change in cash and cash equivalents (1,956) (1,956)
C
ash and cash equivalents at the end of the year
946 946
The main impact on the cash flow statement is related to capitalized development expenses, which appear
under cash used by investment in operating assets. Application of IAS 7 led to the reclassification of movements
in certain operating provisions from change in working capital to net cash provided by operating activities before
changes in operating assets and liabilities, in a negative amount of 24 million in 2004.