Philips 2007 Annual Report Download - page 188

Philips Annual Report 2007194
IFRS Consolidated statements of income of the Philips Group for the years ended December 31
in millions of euros unless otherwise stated
2005 2006 2007
Sales 25,445 26,682 26,793
Cost of sales (17,540) (18,448) (17,678)
Gross margin 7,905 8,234 9,115
Selling expenses (4,425) (4,679) (4,985)
General and administrative expenses (856) (1,174) (1,124)
Research and development expenses (1,536) (1,603) (1,617)
Other business income 580 328 269
Other business expense (162) (149) (165)
Income from operations 1,506 957 1,493
Financial income 397 546 3,194
Financial expenses (289) (517) (345)
Income before taxes 1,614 986 4,342
Income tax expense (501) (189) (491)
Income after taxes 1,113 797 3,851
Results relating to equity-accounted investees:
- Company’s participation in income (loss) 514 (188) 246
- Other results 1,765 49 638
Income before minority interests 3,392 658 4,735
Minority interests (12) (4) (7)
Income from continuing operations 3,380 654 4,728
Discontinued operations (6) 4,010 (73)
Net income attributable to stockholders 3,374 4,664 4,655
Attribution of net income for the period
Net income attributable to stockholders 3,374 4,664 4,655
Net income attributable to minority interests (2) 4 3
Net income for the period 3,372 4,668 4,658
The years 2005 and 2006 are restated to present the MedQuist business as a discontinued operation.
The accompanying notes are an integral part of these consolidated nancial statements.
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128 Group nancial statements 188 IFRS information
Consolidated statements of income
240 Company nancial statements