Consolidated income statement

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For the years ended 31 December 2020 and 2019, CHF million	Notes	2020	%	2019	%

Sales	1.2.1	3’184	100	3’720	100

Other operating income	1.2.2	43		34
Income		3’227	101	3’754	101

Cost of materials and products		–1’463		–1’758
Changes in inventory of unfinished and finished goods		–6		55
Operating expenses	1.3.1	–576		–665
Gross value added		1’182	37	1’386	37

Personnel expenses	1.3.2	–883		–1’012
Depreciation on tangible fixed assets	2.4	–127		–133
Amortization on intangible assets		–6		–6
Operating result (EBIT)		166	5.2	235	6.3

Interest income	3.2	5		5
Interest expense	3.2	–24		–26
Other financial result	3.2			–4
Share of results of associates	3.2	–7		–13
Ordinary result		140	4	197	5

Non-operating result	1.4	3		6
Profit before taxes		143	4	203	5

Income taxes	1.5	–31		–31
Net profit		112	4	172	5
– Thereof attributable to shareholders of Georg Fischer Ltd		116		173
– Thereof attributable to non-controlling interests		–4		–1

Basic earnings per share in CHF	1.6	28		42
Diluted earnings per share in CHF	1.6	28		42