Consolidated income statement

millions of CHF	Notes	2020	2019
Sales	3	1’598.5	1’773.8
Cost of goods sold		–1’122.5	–1’241.8
Gross profit		476.0	532.0
Selling and distribution expenses		–168.5	–187.4
General and administrative expenses		–189.5	–196.7
Research and development expenses		–41.7	–43.3
Other operating income and expenses, net	6	–40.3	–5.7
Operating income (EBIT)		36.0	98.9
Interest and securities income	7	2.5	2.9
Interest expenses	7	–11.7	–12.4
Other financial income and expenses, net	7	–3.0	–2.5
Share of profit and loss of associates		–0.3	–0.8
Income before income tax expenses		23.5	86.2
Income tax expenses	8	–6.7	–19.6
Net income		16.8	66.5
attributable to shareholders of Sulzer Ltd		15.4	65.1
attributable to non-controlling interests		1.4	1.4

Earnings per share (in CHF)
Basic earnings per share		0.45	1.92
Diluted earnings per share		0.45	1.90