MICHELIN - 2008 ANNUAL REPORT
MICHELIN - 2008 ANNUAL REPORT
MICHELIN - 2008 ANNUAL REPORT
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Statement of income <strong>2008</strong><br />
(in EUR) <strong>2008</strong> 2007<br />
<br />
Royalties (including export revenues: 345,060,209.49) 401,937,698.11 429,237,593.81<br />
Other revenue 2,531,906.44 3,507,887.16<br />
<br />
<br />
External charges 282,743,675.79 258,004,540.45<br />
Taxes other than on income 3,115,252.12 3,824,524.86<br />
Wages and salaries 2,290,270.86 1,956,082.01<br />
Payroll taxes 761,615.38 692,839.80<br />
Depreciation and amortization:<br />
● Fixed assets 453,229.19 441,899.20<br />
● Deferred charges – –<br />
Other expenses 931,734.07 1,384,628.89<br />
<br />
<br />
<br />
Dividends from subsidiaries and affiliates (3) 239,980,000.77 234,859,531.55<br />
Interest income (3) 4,326,947.44 8,287,897.71<br />
Reversals of allowances – –<br />
Exchange gains 4,271,435.16 1,704,057.38<br />
Net gains on sales of marketable securities – –<br />
<br />
<br />
Charges to allowances for impairment in value 1,698,898.52 55,865,745.97<br />
Interest expense (4) 74,416,433.82 74,186,319.40<br />
Exchange losses 1,795,352.51 3,201,671.71<br />
Net losses on sales of marketable securities – –<br />
<br />
<br />
<br />
200 <strong>2008</strong> Michelin Annual Report
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