|
(thousands of Euro)
|
2009
|
2008
|
Notes
|
|
Revenues
|
2,049,259
|
2,127,941
|
[1]
|
|
|
|
|
|
|
|
Materials and subcontracted work
|
969,282
|
997,235
|
[2]
|
|
Payroll and related costs
|
84,154
|
88,334
|
[4]
|
|
Industrial depreciation and amortization
|
15,727
|
16,051
|
[6]
|
|
Other manufacturing costs
|
37,476
|
44,554
|
[3]
|
|
Cost of sales
|
1,106,639
|
1,146,174
|
|
|
|
|
|
|
|
|
Gross operating profit
|
942,620
|
981,767
|
|
|
|
|
|
|
|
|
Distribution and transport
|
63,173
|
65,699
|
|
|
Sales commissions
|
86,706
|
88,797
|
|
|
|
|
|
|
|
|
Contribution margin
|
792,741
|
827,271
|
|
|
|
|
|
|
|
|
Payroll and related costs
|
169,051
|
167,724
|
[4]
|
|
Advertising and promotion (A)
|
52,585
|
60,922
|
[5]
|
|
Depreciation and amortization
|
87,944
|
83,629
|
[6]
|
|
Other expenses and income
|
277,359
|
260,727
|
[7]
|
|
- of which non-recurring expenses/(income)
|
22,523
|
(628)
|
|
|
General and operating expenses
|
586,939
|
573,002
|
|
|
- of which non-recurring expenses/(income)
|
22,523
|
(628)
|
|
|
|
|
|
|
|
|
Operating profit
|
205,802
|
254,269
|
|
|
|
|
|
|
|
|
Share of income/(losses) of associated companies
|
2,262
|
229
|
[8]
|
|
Financial expenses
|
(34,694)
|
(79,301)
|
[9]
|
|
Financial income
|
14,746
|
37,861
|
[9]
|
|
Net foreign currency hedging (losses)/gains and exchange differences
|
(2,549)
|
(772)
|
[10]
|
|
Income before taxes
|
185,567
|
212,286
|
|
|
|
|
|
|
|
|
Income taxes
|
67,715
|
56,210
|
[11]
|
|
|
|
|
|
|
|
Net income from continuing operations
|
117,852
|
156,076
|
|
|
|
|
|
|
|
|
Net income from discontinued operations
|
-
|
1,107
|
[12]
|
|
|
|
|
|
|
|
Net income for the year
|
117,852
|
157,183
|
|
|
attributable to:
|
|
|
|
|
- shareholders of the Parent Company
|
121,650
|
155,478
|
|
|
- minority interests
|
(3,798)
|
1,705
|
|
|
|
|
|
|
|
|
Basic earnings per share (Euro)
|
0.71
|
0.86
|
|
|
Diluted earnings per share (Euro)
|
0.71
|
0.86
|
|
(A) Of which Euro 10,768 thousand charged by holding and related companies in 2009 (Euro 10,530 thousand in 2008).