NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Consolidated financial statements

Consolidated income statements

(In million euros)

Notes

31 January 2018

31 January 2017

Sales

(6-1)

1,111.7

1,158.7

Current operating expenses Cost of sales

(279.3)

(293.3)

research and development expenses

(56.9)

(52.0)

Sales and marketing expenses

(279.6)

(293.0)

Administrative expenses

(194.9)

(197.1)

Service and other operating expenses

(99.9)

(106.8)

Employee profit-sharing, share-based payments

1.2

(0.5)

Expenses related to acquisitions

(6-6)

(11.3)

(13.1)

Total current operating expenses

 (6-3)

(920.7)

(955.8)

Current operating income

(6-3)

191.0

202.9

Proceeds from asset sales

(0.1)

(0.0)

Structure optimization expenses – net of reversals

(10-1)

(13.2)

(15.3)

Other operational expenses

(6-7)

(11.3)

(6.7)

Operating income

166.4

180.9

Interest expenses

(34.5)

(31.3)

Interest income

2.2

1.6

Net cost of debt

(32.3)

(29.7)

Losses on foreign exchange

(15.0)

(5.8)

Gains on foreign exchange

12.6

5.0

Net gains (losses) on foreign exchange

(2.4)

(0.8)

Other financial gains

0.1

-

Other financial losses

-

-

Income before tax

131.8

150.4

Share of results of associated companies

1.7

1.3

Income taxes

(12-3)

(0.8)

(37.7)

NET INCOME

132.7

114.0

Attributable to:

• •

holders of the parent company

133.8

118.2

non-controlling interests

(1.1)

(4.2)

NET EARNINGS PER SHARE (IN EUROS)

3.62

3.17

(13-3)

DILUTED NET EARNINGS PER SHARE (IN EUROS)

3.35

2.97

(13-3)

following notes form an integral part of the consolidated financial statements. The

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REGISTRATION DOCUMENT 2017 / NEOPOST