Consolidated income statement

millions of CHF	Notes	2023	2022
Sales	3	1’601.6	1’516.8
Cost of goods sold		–1’084.7	–1’085.9
Gross profit		516.9	430.9
Selling and distribution expenses		–166.7	–158.4
General and administrative expenses		–175.3	–188.1
Research and development expenses		–35.1	–32.4
Net impairment release / (loss) on contract assets and trade accounts receivable		2.6	–36.8
Other operating income / (expenses), net	7	9.1	–40.6
Operating income (EBIT)		151.5	–25.5
Interest and securities income	8	10.5	3.5
Interest expenses	8	–16.1	–13.2
Other financial income / (expenses), net	8	–7.2	18.3
Share of profit / (loss) of associates		–1.1	–1.4
Income before income tax expenses		137.6	–18.3
Income tax expenses	9	–33.3	–30.5
Net income		104.3	–48.8
– thereof attributable to shareholders of Sulzer Ltd		103.9	–48.3
– thereof attributable to non-controlling interests		0.3	–0.5

Earnings per share (in CHF)
Basic earnings per share		3.07	–1.43
Diluted earnings per share		3.03	–1.41