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74 • Consolidated financial statements
PANDORA ANNUAL REPORT 2016
DKK million
Notes
2016
2015
CONSOLIDATED INCOME STATEMENT
Revenue
2.1, 2.2
20,281
16,737
Cost of sales
2.3
-5,058
-4,544
Gross profit
15,223
12,193
Sales, distribution and marketing expenses
2.3
-5,838
-4,722
Administrative expenses
2.3
-1,981
-1,657
Operating profit
2.2
7,404
5,814
Finance income
4.6
328
84
Finance costs
4.6
-82
-553
Profit before tax
7,650
5,345
Income tax expense
2.5
-1,625
-1,671
Net profit for the year
6,025
3,674
Earnings per share, basic (DKK)
4.2
52.8
30.9
Earnings per share, diluted (DKK)
4.2
52.5
30.7
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Net profit for the year
6,025
3,674
Other comprehensive income:
Items that may be reclassified to profit/loss for the year
Exchange rate adjustments of investments in subsidiaries
121
249
Commodity hedging instruments:
- Realised in cost of sales
-
-9
- Realised in net financials
-21
23
- Realised in inventories
-145
183
- Fair value adjustments
144
-193
Foreign exchange hedging instruments:
- Realised in net financials
-167
175
- Fair value adjustments
236
-156
Tax on other comprehensive income, hedging instruments, income/expense
2.5
-10
22
Other comprehensive income, net of tax
158
294
Total comprehensive income for the year
6,183
3,968
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER