EADS Annual Report and Registration Document 2005 - IFRS consolidated statements of income

The following table sets forth a summary of the IFRS consolidated statements of income of EADS for the years indicated.

IFRS consolidated statements of income for the year ended 31st December 2005, 2004 and 2003		Download Excel
(in €m, except for EPS)	Year ended 31st December 2005	Year ended 31st December 2004	Year ended 31st December 2003

Revenues	34,206	31,761	30,133
Cost of sales	(27,530)	(25,522)⁽³⁾	(24,594)
Gross margin	6,676	6,239⁽³⁾	5,539
Selling and administrative expenses	(2,183)	(2,119)	(2,162)
Research and development expenses	(2,075)	(2,126)	(2,189)
Other income	222	314	196
Other expense ⁽¹⁾	(153)	(177)	(256)
Goodwill amortisation ⁽¹⁾⁽²⁾	0	0	(567)
Share of profit from associates and other income (expense) from investments	225	84	186
Profit before finance costs and income taxes	2,712	2,215	747
Interest result	(155)	(275)	(203)
Other financial result	(22)	(55)	148
Income taxes	(825)	(664)	(474)
Profit for the period	1,710	1,221⁽³⁾	218
Attributable to:
Equity holders of the parent (Net Income)	1,676	1,203⁽³⁾⁽⁴⁾	206⁽⁴⁾
Minority interests	34	18⁽⁴⁾	12⁽⁴⁾
Earnings per share (basic) (in €)	2.11	1.50⁽³⁾⁽⁴⁾	0.26⁽⁴⁾
Earnings per share (diluted) (in €)	2.09	1.50⁽³⁾⁽⁴⁾	0.26⁽⁴⁾

(1)	For purposes of this discussion, the presentation of the summary consolidated statements of income differs from the actual IFRS consolidated statements of income, in which “Goodwill amortisation” is included within the line item “Other expense”.
(2)	In accordance with IFRS 3, as from the beginning of 2004, EADS no longer amortizes goodwill on a regular basis.
(3)	The €(12) million effect of the retrospective application of IFRS 2 “Share-based Payment” is included in 2004 cost of sales.
(4)	As a result of the first-time application in 2005 of revised IAS 32 “Financial Instruments: Disclosure and Presentation” as it relates to the option granted to BAE Systems’ to put its 20% stake in Airbus to EADS, and in accordance with IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”, the historical minority interests recorded in respect of such 20% stake have been replaced by the posting of a liability for puttable instruments and an adjustment to equity attributable to equity holders of the parent. As a consequence, EADS’ net income now includes BAE Systems’ 20% stake in Airbus. See “Notes to Consolidated Financial Statements (IFRS) — Note 2: Summary of significant accounting policies — IAS 32 Financial Instruments: Disclosure and Presentation (revised 2004)”.

Set out on the next pages are year-to-year comparisons of results of operations, based upon EADS’ consolidated statements of income.

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