Consolidated income statement

millions of CHF	Notes	2019	2018
Sales	3	1’773.8	1’591.4
Cost of goods sold		–1’241.8	–1’103.7
Gross profit		532.0	487.7
Selling and distribution expenses		–187.4	–180.2
General and administrative expenses		–196.7	–185.0
Research and development expenses		–43.3	–42.6
Other operating income and expenses, net	6	–5.7	2.1
Operating income		98.9	82.0
Interest and securities income	7	2.9	1.5
Interest expenses	7	–12.4	–10.8
Other financial income and expenses, net	7	–2.5	4.4
Share of profit and loss of associates		–0.8	0.7
Income before income tax expenses		86.2	77.8
Income tax expenses	8	–19.6	–17.8
Net income		66.5	60.0
attributable to shareholders of Sulzer Ltd		65.1	57.9
attributable to non-controlling interests		1.4	2.0

Earnings per share (in CHF)
Basic earnings per share		1.92	1.81
Diluted earnings per share		1.90	1.80