Consolidated income statement

millions of CHF	Notes	2025	2024
Sales	2,18	3’555.4	3’530.6
Cost of goods sold		–2’332.1	–2’347.4
Gross profit		1’223.2	1’183.2
Selling and distribution expenses		–321.9	–335.2
General and administrative expenses		–372.1	–382.5
Research and development expenses	8	–77.6	–76.4
Net impairment loss on contract assets and trade accounts receivable		–7.0	–0.6
Other operating income / (expenses), net	9	–11.5	–6.0
Operating income (EBIT)		433.1	382.5
Interest and securities income	10	11.6	19.6
Interest expenses	10	–29.5	–29.3
Other financial income / (expenses), net	10	–16.7	–15.5
Share of profit / (loss) of associates and joint ventures	15	–11.4	–3.8
Income before income tax expenses		387.1	353.5
Income tax expenses	11	–92.4	–88.2
Net income		294.7	265.4
– thereof attributable to shareholders of Sulzer Ltd		292.8	261.9
– thereof attributable to non-controlling interests		1.9	3.5

Earnings per share (in CHF)
Basic earnings per share	23	8.68	7.73
Diluted earnings per share	23	8.57	7.64