ANNUAL REPORT 2017
EXPLORE OUR PERSPECTIVES

COMPANY STATEMENT OF PROFIT OR LOSS

Year ended December 31,
(EUR thousand)20162017
Operating expenses:
Selling, general and administrative(24,911)(25,406)
Research and development(1,056)(2,038)
Total operating expenses(25,967)(27,444)
Result from operations(25,967)(27,444)
Finance income2,8941,371
Finance expense(958)(1,429)
Foreign currency exchange gain, net2,2944,618
Intercompany charging operating expenses23,2553,568
Sale of stake in associate15,791
Result before income taxes1,518(3,525)
Income taxes(225)2,618
Net earnings from holding activities1,293(907)
Net earnings from subsidiaries134,178453,309
Total net earnings135,471452,402