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Wavin Annual Report 2010 | page 75ConsolidatedincomestatementFOR THE YEAR ENDED 31 DECEMBER(€ X 1,000)NOTE 2010 2009RECURRINGNON-RECURRING*TOTAL RECURRING NON-RECURRING*TOTALTotal revenue 8 1,231,252 – 1,231,252 1,159,626 – 1,159,626Cost of sales (938,959) (1,117) (940,076) (862,829) (7,252) (870,081)Gross profit (loss) 292,293 (1,117) 291,176 296,797 (7,252) 289,545Other operating income 9 3,296 1,261 4,557 3,924 2,022 5,946Selling and distribution expenses (142,050) (3,016) (145,066) (142,450) (6,406) (148,856)Administrative expenses (90,075) (2,457) (92,532) (92,585) (3,028) (95,613)Research and development expenses (7,961) (28) (7,989) (6,204) 48 (6,156)Other operating expenses 10 (11,180) (1,023) (12,203) (11,946) (25) (11,971)Result from operating activities 44,323 (6,380) 37,943 47,536 (14,641) 32,895Finance income 1,725 – 1,725 2,325 – 2,325Finance expense (35,864) – (35,864) (37,692) – (37,692)Net finance costs 13 (34,139) – (34,139) (35,367) – (35,367)Share in profi t of associates 19 2,196 – 2,196 3,073 – 3,073Profit (loss) before income tax 12,380 (6,380) 6,000 15,242 (14,641) 601Income tax benefi t (expense) 15 (3,516) 4,616 1,100 (3,498) 4,716 1,218Profit (loss) for the period 8,864 (1,764) 7,100 11,744 (9,925) 1,819Attributable to:Equity holders of the Company 7,564 (1,739) 5,825 10,109 (9,922) 187Non-controlling interest 1,300 (25) 1,275 1,635 (3) 1,632Profit (loss) for the period 8,864 (1,764) 7,100 11,744 (9,925) 1,819* For the definition of non-recurring items reference is made to paragraph (aa) of the Significant accounting policies. For details on the non-recurring items reference is made to note14 of the Group Financial Statements.Basic earnings per share(€ x 1) NOTE 2010 2009Basic earnings per share (weighted average) 16 0.11 0.00Diluted earnings per share (weighted average) 16 0.11 0.00The notes on page 79 to 128 are an integral part of these consolidated fi nancial statements.