2014 Annual Report68

CONSOLIDATED INCOME STATEMENT In thousands of euro 12 months 2014 2013 restated (*)

NET SALES 4,606,920 4,204,557 Purchases adjusted for changes in inventories -3,146,321 -2,763,342 Personnel costs -779,342 -757,958 Depreciation, amortization, impairment and provisions -112,559 -108,576 Other current operating expense -459,310 -431,290 CURRENT OPERATING PROFIT 109,388 143,391 Other operating expense -33,524 -33,342 Other operating income 21,239 12,734 TOTAL OPERATING PROFIT 97,103 122,783 Financial expense -43,106 -38,370 Financial income 12,867 13,802 Group share of results of associates 3,751 8,005 PROFIT BEFORE TAX 70,615 106,220 Taxes on income -25,808 -51,082 Net income from continuing operations 44,807 55,138 Net income from operations discontinued or in process of sale -127 96 NET INCOME FOR THE YEAR 44,680 55,234 Attributable to equity holders of the parent company 39,068 48,893 Attributable to non-controlling interests 5,612 6,341 EARNINGS PER SHARE (in euro) Attributable to equity holders of the parent company:

basic 2.79 3.49 diluted 2.71 3.38

From continuing operations: basic 2.78 3.48 diluted 2.71 3.37

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

In thousands of euro 12 months 2014 2013 restated (*)

NET INCOME FOR THE YEAR 44,680 55,234 Other comprehensive income: Foreign exchange differences 12,628 -33,344 Change in fair value of available-for-sale financial assets 317 45 Change in fair value of cash flow hedges(1) -2,392 -2,512 Recyclable components attributable to associates and joint ventures 561 -679 Total recyclable components of other comprehensive income 11,114 -36,490 Actuarial gains and losses for post-employment benefit plans -15,964 5,603 Non-recyclable components attributable to associates and joint ventures -374 -307 Other movements(2) -399 -1,717 Total non-recyclable components of other comprehensive income -16,737 3,579 Other comprehensive income net of tax -5,623 -32,911 TOTAL COMPREHENSIVE INCOME NET OF TAX 39,057 22,323 Attributable to equity holders of the parent company 34,467 16,963 Attributable to non-controlling interests 4,590 5,360

(1) Mainly relating to interest rates and raw materials. (2) Relating in 2014 and 2013 to adjustment of long-term employee benefits.

(*) With effect from January 1, 2014 (and with retroactive effect from January 1, 2013) the Group has applied IFRS 11, Joint Arrangements. As a result, the financial statements for 2013 have been restated in accordance with the new standard.