Henkel Annual Report 2011

Consolidated statement of income


in million euros Note 2010%2011%Change
Sales 2215092100.015605100.03.4 %
Cost of sales1  23– 8,078

– 53.5

– 8,538– 54.75.7 %
Gross profit701446.5706745.30.8 %
Marketing, selling and distribution expenses1  24– 4,257– 28.2– 4,132– 26.5– 2.9 %
Research and development expenses1  25– 391– 2.6– 410– 2.64.9 %
Administrative expenses1  26– 750– 5.0– 785– 5.04.7 %
Other operating income 272161.42091.3– 3.2 %
Other operating charges 28– 109– 0.7– 92– 0.6– 15.6 %
Operating profit (EBIT)172311.4185711.97.8 %
Interest income250.2450.380.0 %
Interest expense– 197– 1.3– 200– 1.31.5 %
Interest result– 172– 1.1– 155– 1.0– 9.9 %
Investment result1– – 100.0 %
Financial result 29– 171– 1.1– 155– 1.0–9.4 %
Income before tax155210.3170210.99.7 %
Taxes on income 30– 409– 2.7– 419– 2.72.4 %
Tax rate in %26.424.6
Net income11437.612838.212.2 %
– attributable to non-controlling interests 31250.230 0.220.0 %
– attributable to shareholders of
Henkel AG & Co. KGaA
11187.412538.012.1 %
1 Restructuring charges 2011: 227 million euros (2010: 184 million euros), of which: cost of sales 83 million euros (2010: 114 million euros);marketing, selling and distribution expenses 51 million euros (2010: 23 million euros); research and development expenses 14 million euros(2010: 8 million euros); administrative expenses 79 million euros (2010: 39 million euros).