Annual Report 2013

Consolidated Income Statement

Consolidated Income Statement for the year ended December 31, 2013
(All amounts in thousands of US dollars, unless specified otherwise)

  Year ended December 31,
  NOTES 2013 2012 (as restated*)
Revenue: 1 6,431,903 6,687,740
Sales of goods   6,328,930 6,575,050
Rendering of services   102,973 112,690
Cost of sales 2 (5,074,311) (5,208,875)
   
Gross profit   1,357,592 1,478,865
   
Selling and distribution expenses 3 (379,205) (433,243)
Advertising and promotion expenses 4 (12,481) (11,060)
General and administrative expenses 5 (317,288) (292,539)
Research and development expenses 6 (12,733) (16,592)
Other operating expenses 7 (52,101) (68,011)
Other operating income 8 17,779 10,707
Impairment of goodwill 19 (1,080) –-
Impairment of property, plant and equipment 18 (4,243) (8,406)
Foreign exchange (loss)/gain, net   (49,189) 22,597
Finance costs   (252,247) (297,099)
Finance income 9 7,164 22,329
Gain/(loss) on changes in fair value of derivative financial instruments   8,377 (7,436)
Share of profit of assoсiates 13 176 41
Gain on disposal of subsidiary 12 1,862 –-
   
Profit before tax   312,383 400,153
Income tax expense 10 (97,843) (122,634)
   
Profit for the period   214,540 277,519
   
Attributable to:  
Equity holders of the parent entity   213,929 272,587
Non–controlling interests   611 4,932
    214,540 277,519
Earnings per share attributable to the equity holders of the parent entity, basic and diluted (in US dollars) 11 0.25 0.32
 

* Certain amounts shown here do not correspond to the consolidated financial statements for the year ended December 31, 2012 and reflect changes in accounting policies.