2004	2003
	Notes		(in TEUR)	(in TEUR)
Sales	13.		1,481,347	1,224,990
Changes in inventories of finished goods
and work in progress			10,996	(3,517)
Capitalized cost of self-constructed assets			468	156
			1,492,811	1,221,629
Other operating income	14.		20,799	20,099
Cost of materials			(866,263)	(676,133)
Personnel expenses	15.		(322,706)	(304,797)
Other operating expenses	16.		(209,283)	(176,428)
Earnings before interest, taxes,
depreciation and amortization (EBITDA)			115,358	84,370
Depreciation and amortization (without amortization of goodwill)			(22,539)	(21,237)
Earnings before interest, taxes and
amortization of goodwill (EBITA)			92,819	63,133
Amortization of goodwill			(16,684)	(14,201)
Earnings before interest and taxes (EBIT)			76,135	48,932
Income/Expense from associated companies			(1,543)	(419)
Interest result			1,979	1,006
Other income from financing activities			657	(201)
Financial results	17.		1,093	386
Earnings before taxes (EBT)			77,228	49,318
Income taxes	18.		(22,830)	(18,801)
Net income			54,398	30,517
Share of profit due to minority interests			(1,027)	(1,389)
Net income excluding minority interests			53,371	29,128
Earnings per non par value share (in EUR)	19.		4.13	2.26
Proposed or paid dividend per non par value share (in EUR)			1.40	1.00
Weighted average number of non par value shares			12,917,037	12,871,600

incomestatement.htm

incomestatement.xls (Download size=20480 Bytes): 

The following notes to the consolidated financial statements form an integral part of this consolidated income statement.