APC 2005 Annual Report Download - page 124
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122
% interest % interest
Dec. 31, 2005 Dec. 31, 2004
Schneider Electric Chile SA Chile 99.96 99.96
Schneider de Colombia SA Colombia 79.98 79.98
SEP Le Guavio Colombia 100.00 100.00
Schneider Centroamerica SA Costa Rica 100.00 100.00
Schneider Electric Distribution Company Egypt 78.23 78.23
Schneider Electric Egypt SA Egypt 81.49 81.49
Schneider Electric FZE United Arab Emirates 100.00 100.00
Square D Foreign Sales Corporation Virgin Islands 92.31 92.31
LK India Private Ltd India 100.00 80.67
Schneider Electric India Private Ltd India 100.00 100.00
Schneider Electric Industries Iran Iran 67.00 67.00
Telemecanique Iran Iran 100.00 100.00
Schneider Electric LLP Kazakhstan 100.00 100.00
Eastmed Lebanon 96.00 96.00
Crouzet Maroc Morocco 100.00 100.00
MGE UPS Maroc SA Morocco 84.84 84.84
Schneider Electric Maroc Morocco 100.00 100.00
Schneider Electric Nigeria Nigeria 100.00 -
Schneider Electric Peru SA Peru 100.00 100.00
Metesan Lexel Elektrik Malzemeleri Sanayi Ve Ticaret AS Turkey 100.00 100.00
MGE UPS Systems Bilgisayar Sistemleri Ticaret A.S Turkey 84.84 84.84
Schneider Elektrik AS Turkey 100.00 100.00
Schneider Electric Venezuela SA Venezuela 91.88 91.88
Note 31 - French GAAP financial statements for 2003 and 2004
The financial statements prepared according to French GAAP for the years ended December 31, 2003 and
December 31, 2004 are provided below to facilitate comparison over three years and in light of the adoption of
IFRS as from January 1, 2004.
Consolidated Statement of Income
(in millions of euros except for earnings per share)
31.12.2004 31.12.2003
Sales 10,365.3 8,780.3
Cost of sales (5,965.1) (5,063.1)
Gross margin 4,400.2 3,717.2
Research and development expenses (535.2) (494.0)
Selling, general and administrative expenses (2,554.3) (2,215.8)
Operating income 1,310.7 1,007.4
Financial expense, net (65.9) (53.1)
Income from continuing operations before tax 1,244.8 954.3
Exceptional items (96.3) (163.9)
Income tax (333.1) (127.3)
Net income of fully consolidated companies 815.4 663.1
Amortization of goodwill (217.1) (190.7)
Share of losses of equity investments (3.6) (18.1)
Net income before minority interests 594.7 454.3
Minority interests (30.1) (21.5)
Net income (attributable to Schneider Electric SA) 564.6 432.8
Earnings per share (in euros) 2.56 1.94
Diluted earnings per share (in euros) 2.55 1.94