Chapters
Annual Report 2019

Consolidated Income Statement

in thousands of EUR

Notes

2019

2018

Revenue

6

4,039,306

3,720,976

Cost of sales and directly related costs

7

- 1,109,550

- 1,003,547

Gross profit

2,929,756

2,717,429

Selling and marketing costs

7

- 2,027,025

- 1,899,119

General and administrative costs

7

- 578,091

- 480,284

Share of result of Associates and Joint Ventures

- 671

- 702

Operating result

323,969

337,324

Finance income

8

3,592

1,873

Finance costs

8

- 53,013

- 20,229

Net financial result

- 49,421

- 18,356

Result before tax

274,548

318,968

Income tax

10

- 79,177

- 81,672

Result for the year

195,371

237,296

Attributable to:

Equity holders

178,483

216,278

Non-controlling interests

16,888

21,018

195,371

237,296

Earnings per share, basic and diluted (in EUR per share)

9

0.70

0.85

GrandVision has applied IFRS 16 at 1 January 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of applying IFRS 16 is recognized in retained earnings. The accompanying notes are an integral part of these consolidated financial statements.