Financial review

Summarized consolidated income statement

in millions of EUR

2016

% of revenue

2015

% of revenue

Revenue

3,316

100.0%

3,205

100.0%

Cost of sales and direct related expenses

- 901

-27.2%

- 876

-27.3%

Gross profit

2,415

72.8%

2,328

72.7%

Selling and marketing costs

- 1,668

-50.3%

- 1,617

-50.4%

General and administrative costs

- 393

-11.8%

- 363

-11.3%

Share of result of associates

4

0.1%

5

0.1%

Operating result

358

10.8%

353

11.0%

Net financial result

- 10

-0.3%

- 19

-0.6%

Result before tax

348

10.5%

334

10.4%

Income tax

- 96

-2.9%

- 103

-3.2%

Result for the period

252

7.6%

231

7.2%