Consolidated income statement

millions of CHF	Notes	2023	2022
Sales	3,20	3’281.7	3’179.9
Cost of goods sold		–2’197.1	–2’240.3
Gross profit		1’084.6	939.6
Selling and distribution expenses		–323.7	–317.0
General and administrative expenses		–370.6	–363.0
Research and development expenses	10	–70.8	–66.4
Net impairment release / (loss) on contract assets and trade accounts receivable		0.9	–39.9
Other operating income / (expenses), net	11	9.2	–42.1
Operating income (EBIT)		329.7	111.4
Interest and securities income	12	18.3	9.7
Interest expenses	12	–30.3	–27.3
Other financial income / (expenses), net	12	–10.3	16.0
Share of profit / (loss) of associates and joint ventures	17	–3.2	–2.7
Income before income tax expenses		304.3	107.0
Income tax expenses	13	–73.8	–79.0
Net income		230.5	28.0
– thereof attributable to shareholders of Sulzer Ltd		229.1	28.6
– thereof attributable to non-controlling interests		1.3	–0.6

Earnings per share (in CHF)
Basic earnings per share	25	6.76	0.85
Diluted earnings per share	25	6.67	0.83