2008 Half-Year Financial Statements - Kuehne + Nagel

4 Consolidated Financial Statements Half Year 2008 | Income Statement
1. INCOME STATEMENT
January – June
April – June
CHF million 2008 2007 Variance 2008 2007 Variance
per cent
per cent
Invoiced turnover 10,700 9,968 7 5,390 5,099 6
Customs duties and taxes –1,769 –1,834 –867 –899
Net invoiced turnover 8,931 8,134 10 4,523 4,200 8
Net expenses for services from third parties –5,792 –5,218 –2,938 –2,706
Gross profit 3,139 2,916 8 1,585 1,494 6
Personnel expenses –1,751 –1,655* –880 –846*
Selling, general and administrative expenses –860 –792 –437 –410
Other operating income, net 2 3 – 2
EBITDA 530 472 12 268 240 12
Depreciation of property, plant and equipment –84 –83 –40 –44
Amortisation of other intangibles –52 –39 –31 –20
EBIT 394 350 13 197 176 12
Financial income 14 12 7 6
Financial expenses –9 –7 –4 –4
Result from joint ventures and associates 4 3 2 2
Earnings before tax (EBT) 403 358 13 202 180 12
Income tax –93 –88* –47 –43*
Earnings for the period 310 270 15 155 137 13
Attributable to:
Equity holders of the parent company 308 269 14 154 136 13
Minority interest 2 1 1 1
Earnings for the period 310 270 15 155 137 13
Basic earnings per share in CHF 2.62 2.28* 1.31 1.16*
Diluted earnings per share in CHF 2.61 2.26* 1.31 1.15*
* Since January 1, 2008, the Group recognises all actuarial gains and losses arising from defined benefit plans immediately in equity. This change in accounting
policy was recognised retrospectively and comparatives have been restated. Refer to note 5.4.