102• PARENTCOMPANY FINANCIAL STATEMENTS
PANDORAANNUAL REPORT2014
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER
DKKmillion
Notes
2014
2013
INCOME STATEMENT
Revenue
7,891
5,917
Cost of sales
-5,370
-4,149
Gross profit
2,521
1,768
Sales, distribution andmarketing expenses
2.1
-247
-277
Administrative expenses
2.1
-649
-412
Operating profit
1,625
1,079
Dividends from subsidiaries
2,096
1,269
Finance income
4.3
58
466
Finance costs
4.3
-203
-325
Profit before tax
3,576
2,489
Income tax expense
2.3
-536
-396
Net profit for the year
3,040
2,093
STATEMENTOFCOMPREHENSIVE INCOME
Net profit for the year
3,040
2,093
Items thatmay be reclassified to profit (loss) for the year
- Commodity hedging instruments:
Realised in cost of sales
-5
-
Realised innet financials
12
-
- Foreign exchange hedging instruments:
Realised innet financials
38
-9
Value adjustments
-62
-16
Income tax on other comprehensive income
2.3
5
5
Other comprehensive income, net of tax
-12
-20
Total comprehensive income for the year
3,028
2,073
