Consolidated income statement

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For the years ended 31 December 2019 and 2018, CHF million	Notes	2019	%	2018	%

Sales	1.2.1	3’720	100	4’572	100

Other operating income	1.2.2	34		56
Income		3’754	101	4’628	101

Cost of materials and products		–1’758		–2’255
Changes in inventory of unfinished and finished goods		55		71
Operating expenses	1.3.1	–665		–776
Gross value added		1’386	37	1’668	36

Personnel expenses	1.3.2	–1’012		–1’139
Depreciation on tangible fixed assets	2.4	–133		–142
Amortization on intangible assets		–6		–5
Operating result (EBIT)		235	6.3	382	8.4

Interest income	3.2	5		2
Interest expense	3.2	–26		–31
Other financial result	3.2	–4		–6
Share of results of associates	3.2	–13
Ordinary result		197	5	347	8

Non-operating result	1.4	6		1
Profit before taxes		203	5	348	8

Income taxes	1.5	–31		–69
Net profit		172	5	279	6
– Thereof attributable to shareholders of Georg Fischer Ltd		173		281
– Thereof attributable to non-controlling interests		–1		–2

Basic earnings per share in CHF	1.6	42		69
Diluted earnings per share in CHF	1.6	42		69