Investors - Ensuring sustainable growth
Investors - Ensuring sustainable growth

Investors

Ensuring sustainable growth

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Income statements


 

Business net income is defined as net income attributable to equity holders of Sanofi excluding: amortization of intangible assets, impairment of intangible assets, fair value remeasurement of contingent consideration liabilities related to business combinations, other impacts associated with acquisitions (including impacts of acquisitions on associates), restructuring costs*, other gains and losses (including gains and losses on disposals of non-current assets*), costs or provisions associated with litigation*, tax effects related to the items listed above as well as effects of major tax disputes, tax (3%) on dividends paid to Sanofi shareholders.

* Reported in the line items Restructuring costs and Gains and losses on disposals, and litigation, which are defined in Note B.20. to our consolidated financial statements.

 

Q3 2014 Business net income statement

Q3 2014: Business net income statement
€ millionQ3 2014as % of net salesQ3 2013*as % of net sales% change
Net sales8,781100.0%8,432100.0%4.1%
Other revenues87-86-1.2%
Cost of sales(2,864)(32.6%)(2,870)(34.0%)(0.2%)
Gross profit6,00468.4%5,64867.0%6.3%
Research and development expenses(1,146)(13.1%)(1,182)(14.0%)(3.0%)
Selling and general expenses(2,193)(25.0%)(2,012)(23.9%)9.0%
Other current operating income/expenses39-28--
Share of profit/(loss) of associates** and joint ventures43-38--
Net income attributable to non-controlling interests(31)-(36)--
Business operating income2,71630.9%2,48429.5%9.3%
Financial income and expenses(139)-(123)--
Income tax expense(642)-(566)--
Tax rate***25.0%-24.0%--
Business net income1,93522.0%1,79521.3%7.8%
Business earnings per share****
(in euros)
1.47-1.36-8.1%

* Including impact of transition to IFRIC 21.
** Net of tax.
*** Determined on the basis of Business income before tax, associates, and non-controlling interests.
**** Based on an average number of shares outstanding of 1,313.0 million in the third quarter of 2014 and 1,323.5 million in the third quarter of 2013.

 

Q2 2014 Business net income statement

Q2 2014: Business net income statement
€ millionQ2 2014as % of net salesQ2 2013*as % of net sales% change
Net sales8,075100.0%8,003100.0%0.9%
Other revenues71-83-(14.5%)
Cost of sales(2,608)(32.3%)(2,670)(33.4%)(2.3%)
Gross profit5,53868.6%5,41667.7%2.3%
Research and development expenses(1,188)(14.7%)(1,185)(14.8%)0.3%
Selling and general expenses(2,255)(27.9%)(2,306)(28.8%)(2.2%)
Other current operating income/expenses54-141--
Share of profit/(loss) of associates** and joint ventures26-3--
Net income attributable to non-controlling interests(30)-(45)--
Business operating income2,14526.6%2,02425.3%6.0%
Financial income and expenses(94)-(137)--
Income tax expense(514)-(408)--
Tax rate***25.0%-21.2%--
Business net income1,53719.0%1,47918.5%3.9%
Business earnings per share****
(in euros)
1.17-1.12-4.5%

* Including impact of transition to IFRIC 21.
** Net of tax.
*** Determined on the basis of Business income before tax, associates, and non-controlling interests.
**** Based on an average number of shares outstanding of 1,314.5 million in the second quarter of 2014 and 1,325.7 million in the second quarter of 2013.

 

Q1 2014 Business net income statement

* Net of tax
** Determined on the basis of Business income before tax, associates, and non-controlling interests
*** Based on an average number of shares outstanding of 1,319.9 million in Q1 2014 and 1,322.2 million in Q1 2013.
(1) Including impact of transition to IFRIC 21.

 

2013/2012: Business net income statement

* Net of tax
** Determined on the basis of Business income before tax, associates, and non-controlling interests
*** Based on an average number of shares outstanding of 1,323.1 million in the 2013 and 1,319.5 million in the 2012.
(1) Including impact of transition to IAS19R

 

2012/2011: Business net income statement

2012/2011: Business net income statement
€ million2012as % of net sales2011as % of net sales% change
Net sales34,947100.0%33,389100.0%4.7%
Other revenues1,010-1,669-(39.5%)
Cost of sales(11,095)(31.8%)(10,426)(31.2%)6.4%
Gross profit24,86271.1%24,63273.8%0.9%
Research and development expenses(4,922)(14.1%)(4,811)(14.4%)2.3%
Selling and general expenses(8,947)(25.6%)(8,536)(25.6%)4.8%
Other current operating income/expenses108-4--
Share of profit/(loss) of associates*424-1,102--
Net income attributable to non-controlling interests(172)-(247)--
Business operating income11,35332.5%12,14436.4%(6.5%)
Financial income and expenses(460)-(412)--
Income tax expense(2,714)-(2,937)--
Tax rate**25.5%-27.0%--
Business net income8,17923.4%8,79526.3%(7.0%)
Business earnings per share***
(in euros)
6.20-6.65-(6.8%)

* Net of tax

** Determined on the basis of Business income before tax, associates, and non-controlling interests

*** Based on an average number of shares outstanding of 1,319.5 million in the 2012 and 1,321.7 million in the 2011

 

The full year 2012 consolidated income statement is available in appendix 6 of the:

 

Further information on income statements:

 

2011/2010: Business net income statement

2011/2010: Business net income statement
€ million2011as % of net sales2010as % of net sales% change
Net sales33,389100.0%32,367100.0%3.2%
Other revenues1,669-1,669--
Cost of sales(10,426)(31.2%)(9,302)(28.8%)12.1%
Gross profit24,63273.8%24,73476.4%(0.4%)
Research and development expenses(4,811)(14.4%)(4,556)(14.1%)5.6%
Selling and general expenses(8,536)(25.6%)(8,171)(25.2%)4.5%
Other current operating income/expenses4-77--
Share of profit/(loss) of associates*1,102-1,036--
Net income attributable to non-controlling interests(247)-(257)--
Business operating income12,14436.4%12,86339.7%(5.6%)
Financial income and expenses(412)-(362)--
Income tax expense(2,937)-(3,286)--
Tax rate**27.0%-28.0%--
Business net income8,79526.3%9,21528.5%(4.6%)
Business earnings per share***
(in euros)
6.65-7.06-(5.8%)

* Net of tax.

** Determined on the basis of Business income before tax, associates, Merial and non-controlling interests

*** Based on an average number of shares outstanding of 1,321.7 million in 2011 and 1,305.3 million in 2010.

 

The full year 2011 consolidated income statement is available in appendix 5 of the:

 

Further information on income statements:

 

2010/2009: Business net income statement

2010/2009: Business net income statement
€ million2010as % of net sales2009as % of net sales% change
Net sales30,384100.0%29,306100.0%+3.7%
Other revenues1,651-1,443-+14.4%
Cost of sales(8,687)(28.6%)(7,853)(26.8%)+10.6%
Gross profit23,34876.8%22,89678.1%+2.0%
Research and development expenses(4,401)(14.5%)(4,583)(15.6%)(4.0%)
Selling and general expenses(7,567)(24.9%)(7,325)(25.0%)+3.3%
Other current operating income/expenses83-385--
Share of profit/(loss) of associates*1,036-841--
Net income from the held-for-exchange Merial business418-241--
Net income attributable to non-controlling interests(257)-(427)--
Business operating income12,66041.7%12,02841.0%+5.3%
Financial income and expenses(362)-(300)--
Income tax expense(3,083)-(3,099)--
Tax rate**27.8%-28.0%--
Business net income9,21530.3%8,62929.4%+6.8%
Business earnings per share***
(in euros)
7.06-6.61-+6.8%

* Net of tax.

** Determined on the basis of Business income before tax, associates, Merial and non-controlling interests.

*** Based on an average number of shares outstanding of 1,305.3 million in 2010 and 1,305.9 million in 2009.

 

The full year 2010 consolidated income statement is available in appendix 8 of the:

 

Further information on income statements:

 

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Stock Market

IFRIC 21

New interpretation of tax levies - applicable as from January 1st, 2014

 

IAS19R

Amended Accounting Standard on Employee Benefits (IAS19R) applicable as from January 1st, 2013

 

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