Annual Report 2013

Consolidated statement of income

in million euros   Note 20121 % 2013 % Change
Sales   22 16,510 100.0 16,355 100.0 – 0.9 %
Cost of sales2   23 –8,778 –53.2 – 8,546 –52.3 – 2.6 %
Gross profit     7,732 46.8 7,809 47.7 1.0 %
Marketing, selling and distribution expenses2   24 – 4,302 –26.1 – 4,242 –25.9 – 1.4 %
Research and development expenses2   25 –408 –2.5 –415 –2.6 1.7%
Administrative expenses2   26 –785 –4.7 –842 –5.1 7.3%
Other operating income   27 109 0.7 122 0.7 11.9%
Other operating charges   28 –147 –0.9 –147 –0.8 0.0%
Operating profit (EBIT)     2,199 13.3 2,285 14.0 3.9%
Interest income     50 0.3 65 0.4 30.0%
Interest expense     –232 –1.4 –178 –1.1 –23.3%
Interest result     –182 –1.1 –113 –0.7 –37.9 %
Investment result     1 –100.0 %
Financial result   29 –181 –1.1 –113 –0,7 37.6%
Income before tax     2,018 12.2 2,172 13.3 7.6%
Taxes on income   30 –492 –3.0 –547 –3.4 11.2%
Tax rate in %     24.4   25.2    
Net income     1,526 9.2 1,625 9.9 6.5%
– Attributable to non-controlling interests   31 –46 –0.3 –36 –0,2 –21.7%
– Attributable to shareholders of Henkel AG & Co. KGaA     1,480 8.9 1,589 9.7 7.4 %
Earnings per ordinary share – basic and diluted in euros  3.40   3.65   7.4 %
Earnings per preferred share – basic and diluted in euros  3.42   3.67   7.3 %
Earnings per ordinary share –
basic and diluted (2012 before IAS 19 revised)
in euros  3.47   3.65   5.2 %
Earnings per preferred –
basic and diluted (2012 before IAS 19 revised)
in euros  3.49   3.67   5.2 %

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Additional voluntary information
in million euros   20121 2013 Change
EBIT (as reported)   2,199 2,285 3.9 %
One-time gains3   –10
One-time charges4   12 82
Restructuring charges   124 159
Adjusted EBIT   2,335 2,516 7.8 %
Adjusted return on sales in % 14.1 15.4 1.3pp
Adjusted tax rate in % 24.8 25.1 0.3pp
Adjusted net income – Attributable to shareholders of Henkel AG & Co. KGaA   1,573 1,764 12.1 %
Adjusted earnings per ordinary share in euros 3.61 4.05 12.2 %
Adjusted earnings per preferred share in euros 3.63 4.07 12.1 %
Adjusted net income – Attributable to shareholders of Henkel AG & Co. KGaA (2012 before IAS 19 revised)   1,603 1,764 10.0 %
Adjusted earnings per ordinary share (2012 before IAS 19 revised) in euros 3.68 4.05 10.1 %
Adjusted earnings per preferred share (2012 before IAS 19 revised) in euros 3.70 4.07 10.0 %
1
Adjusted in application of IAS 19 revised (see here).
2
Restructuring expenses 2013: 159 million euros (2012: 124 million euros), of which: cost of sales 49 million euros (2012: 40 million euros); marketing, selling and distribution expenses 43 million euros (2012: 24 million euros); research and development expenses 1 million euros (2012: 2 million euros); administrative expenses 66 million euros (2012: 58 million euros).
3
Gain from the sale of enzyme production technologies in the Laundry & Home Care business unit.
4
Of which 35 million euros impairment of assets held for sale of our companies in Iran, and 20 million euros expense from dispute settlement with former joint venture partner.

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