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- Group performance review
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[Page 10]
Notes to the financial statements (67KB) [Pages 15-27]
Condensed combined and
consolidated income statement
for the six months ended 30 June 2010
| (Reviewed) | (Reviewed) | (Audited) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Six months ended 30 June 2010 | Six months ended 30 June 2009 | Year ended 31 December 2009 | ||||||||
| € million | Notes | Before special items | Special items (note 6) | After special items | Before special items | Special items (note 6) | After special items | Before special items | Special items (note 6) | After special items |
| Group revenue | 4 | 3,033 | – | 3,033 | 2,614 | – | 2,614 | 5,257 | – | 5,257 |
| Materials, energy and consumables used | (1,624) | – | (1,624) | (1,387) | – | (1,387) | (2,768) | – | (2,768) | |
| Variable selling expenses | (277) | – | (277) | (225) | – | (225) | (472) | – | (472) | |
| Gross margin | 1,132 | – | 1,132 | 1,002 | – | 1,002 | 2,017 | – | 2,017 | |
| Maintenance and other indirect expenses | (132) | – | (132) | (111) | – | (111) | (241) | – | (241) | |
| Personnel costs | (458) | (2) | (460) | (430) | (11) | (441) | (838) | (24) | (862) | |
| Other net operating expenses | (137) | 56 | (81) | (153) | (32) | (185) | (293) | (14) | (307) | |
| Depreciation, amortisation and impairments | (183) | (18) | (201) | (170) | (36) | (206) | (351) | (90) | (441) | |
| Operating profit/(loss) | 4/5 | 222 | 36 | 258 | 138 | (79) | 59 | 294 | (128) | 166 |
| Net (loss)/profit on disposals | 6 | – | (22) | (22) | – | 5 | 5 | – | 3 | 3 |
| Impairment of assets held for sale | 6 | – | (13) | (13) | – | (8) | (8) | – | (8) | (8) |
| Net income from associates | 2 | – | 2 | 1 | – | 1 | 2 | – | 2 | |
| Total profit/(loss) from operations and associates | 224 | 1 | 225 | 139 | (82) | 57 | 296 | (133) | 163 | |
| Investment income | 16 | – | 16 | 15 | – | 15 | 27 | – | 27 | |
| Foreign currency gains/(losses) | 11 | – | 11 | (2) | – | (2) | (1) | – | (1) | |
| Interest expense | 7 | (75) | – | (75) | (71) | – | (71) | (140) | – | (140) |
| Net finance costs | (48) | – | (48) | (58) | – | (58) | (114) | – | (114) | |
| Profit/(loss) before tax | 176 | 1 | 177 | 81 | (82) | (1) | 182 | (133) | 49 | |
| Tax (charge)/credit | 8 | (46) | 4 | (42) | (27) | 4 | (23) | (58) | 6 | (52) |
| Profit/(loss) from continuing operations | 130 | 5 | 135 | 54 | (78) | (24) | 124 | (127) | (3) | |
| Attributable to: | ||||||||||
| Non-controlling interests | 27 | (1) | 26 | 12 | – | 12 | 29 | 1 | 30 | |
| Equity holders of the parent companies | 103 | 6 | 109 | 42 | (78) | (36) | 95 | (128) | (33) | |
| Earnings per share (EPS) for profit/(loss) attributable to equity holders of the parent companies | |||||||||
| Basic EPS | (€ cents) | 9 | 21.5 | (7.1) | (6.5) | ||||
| Diluted EPS | (€ cents) | 9 | 21.2 | (7.1) | (6.5) | ||||
| Basic underlying EPS | (€ cents) | 9 | 20.3 | 8.3 | 18.7 | ||||
| Diluted underlying EPS | (€ cents) | 9 | 20.0 | 8.1 | 18.2 | ||||
| Basic headline EPS | (€ cents) | 9 | 24.8 | (0.8) | 11.4 | ||||
| Diluted headline EPS | (€ cents) | 9 | 24.5 | (0.8) | 11.1 | ||||
Half-yearly report 2010 Mondi Group Forward-looking statements