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120 • PARENT COMPANY FINANCIAL STATEMENTS
PANDORA ANNUAL REPORT 2016
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER
DKK million
Notes
2016
2015
INCOME STATEMENT
Revenue
11,763
10,834
Cost of sales
-5,654
-5,548
Gross profit
6,109
5,286
Sales, distribution and marketing expenses
2.1
-414
-466
Administrative expenses
2.1
-933
-764
Operating profit
4,762
4,056
Dividends from subsidiaries
871
1,490
Finance income
4.4
375
185
Finance costs
4.4
-58
-570
Profit before tax
5,950
5,161
Income tax expense
2.3
-1,108
-1,473
Net profit for the year
4,842
3,688
STATEMENT OF COMPREHENSIVE INCOME
Net profit for the year
4,842
3,688
Other comprehensive income:
Items that may be reclassified to profit/loss for the year
Commodity hedging instruments:
- Realised in cost of sales
-
-9
- Realised in net financials
-
-1
- Fair value adjustments
1
5
Foreign exchange hedging instruments:
- Realised in net financials
-167
175
- Fair value adjustments
236
-156
Tax on other comprehensive income, hedging instruments, income/expense
2.3
-15
-4
Other comprehensive income, net of tax
55
10
Total comprehensive income for the year
4,897
3,698