2006 - Interparfums

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4. notes to the income statement 4.1 Breakdown of consolidated sales 4.1.1 By geographic region % 2005 2006 North America 23% 24% South America 7% 7% Asia 13% 14% Europe 40% 39% Middle East 8% 8% France 8% 8% Other 1% - Total 100% 100% 4.1.2 By brand % 2005 2006 Burberry 67% 67% Lanvin 15% 16% Paul Smith 8% 8% S.T. Dupont 5% 5% Nickel 2% 2% Christian Lacroix 2% 2% Celine 1% - Total 100% 100% 4.2 Cost of sales In € thousands 2005 2006 Raw materials, trade goods and packaging (67,381) (88,404) Changes in inventory and allowances (7,731) 5,988 POS advertising (4,860) (6,507) Transportation costs (472) (746) Other expenses related to the cost of sales (2,259) (2,665) Total cost of sales (82,703) (92,334) 4.3 Selling expenses In € thousands 2005 2006 Advertising (32,476) (36,907) Royalties (21,584) (25,336) Staff costs (7,938) (9,357) Subcontracting (3,213) (3,024) Transportation costs (2,731) (3,276) Commissions (1,955) (1,645) Allowances and reversals (4,272) (1,743) Other selling expenses (5,039) (6,906) Total selling expenses (79,208) (88,194) 2006 annual report inter parfums notes to the consolidated financial statements
4.4 Administrative expenses In € thousands 2005 2006 Purchases and external costs (2,568) (2,219) Staff costs (1,834) (2,370) Taxes and related expenses (893) (347) Other administrative expenses (1,323) (1,589) Total administrative expenses (6,618) (6,525) 4.5 Net financial expense In € thousands 2005 2006 Interest income 384 995 Currency gains (losses) (357) 140 Interest and similar expenses (892) (1,223) Other financial income and expense 11 19 Net financial expense (854) (69) 4.6 Income taxes 4.6.1 Analysis of income taxes In € thousands 2005 2006 Current income tax (9,835) (10,231) Deferred tax arising from timing differences 507 272 Deferred tax arising from consolidation adjustments 405 (649) Total income taxes (8,923) (10,608) 4.6.2 Reconciliation of the effective tax expense and theoretical tax expense The difference between the effective tax recorded and the theoretical tax expense calculated by applying the tax rate of 35.4% applicable for fiscal 2005 and 2006 to pretax income reflects the following: In € thousands 2005 2006 Tax base 25,059 29,113 Theoretical tax calculated at the standard rate 8,746 10,024 Tax credit and income taxable at lower rates - - Effect of tax rate change on deferred taxes 11 (28) Depreciation of tax assets from loss carryforwards - 633 Permanent non deductible differences 166 (21) Income taxes 8,923 10,608 4.7 Earnings per share In € thousands except number of shares and earnings per share in euros 2005 2006 Consolidated net income 16,136 18,694 Average number of shares 8,974,298 10,421,965 Basic earnings per share (1) 1.82 1.79 Dilution effect of stock options: Potential number of additional shares 210,823 212,100 Potential effect on consolidated net income - - Potential fully diluted consolidated net income 16,136 18,694 Potential fully diluted average number of shares outstanding 9,185,121 10,634,065 Diluted earnings per share (1) 1.77 1.76 (1) not adjusted for bonus shares granted in 2005 and 2006. 77
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another major step forward contents
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these included the signature of two
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51.7 non- current assets 127.5 curr
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Since it was listed on the EuroNext
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Fiscal 2006 represented another maj
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P H Y A portfolio of prestigious in
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The creation and marketing of each
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2006 annual report inter parfums bu
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2006 annual report inter parfums la
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Éclat d’Arpège 2002 2006 annual
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Page 36 and 37: 2006 was a banner year for Burberry
Page 38 and 39: international markets accounting fo
Page 40 and 41: T H E M A R K E T new growthin thes
Page 42 and 43: sustainable development social resp
Page 44 and 45: OPERATING ORGANIZATION AT MARCH 1,
Page 47 and 48: team spirit, motivation and commitm
Page 49 and 50: to hedge its exposure from operatio
Page 51 and 52: 1. corporate governance Inter Parfu
Page 53 and 54: 2. management committee Mission The
Page 55 and 56: The system of monthly reporting imp
Page 57 and 58: control to obtain a description of
Page 59 and 60: Directors’ fees Directors fees ar
Page 61 and 62: 2. Information on options granted t
Page 63 and 64: CONSOLIDATED INCOME STATEMENT In
Page 65 and 66: Shareholders’ equity and liabilit
Page 67 and 68: STATEMENT OF CASH FLOWS In € thou
Page 69 and 70: 1. accounting principles 1.1 Genera
Page 71 and 72: At the end of every year, these sta
Page 73 and 74: 3. notes to the balance sheet 3.1 T
Page 75 and 76: 3.7 Marketable securities and fixed
Page 77: 3.12 Deferred tax Deferred taxes ar
Page 82 and 83: shareholder information statutory I
Page 84 and 85: 2. capital stock 1. Three-year hist
Page 86 and 87: 3. resolutions submitted to the com
Page 88 and 89: The purpose of this authorization i
Page 90 and 91: - charge all costs to paid-in capit
Page 92: completion of the capital reduction
Page 95 and 96: 1. Auditors The statutory auditors
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