Consolidated statement of income
January 1 to December 31, in million € Note 2008 2007
Sales 4 12,336 11,358
Cost of sales 5 -8,408 -7,680
Gross profit   3,928 3,678
Selling, general and administrative expenses 8 -1,972 -1,885
Research and development expenses   -479 -184
Operating income (EBIT)   1,477 1,609
Interest income 9 25 27
Interest expenses 9 -456 -395
Other financial result 10 68 0
Financial result   -363 -368
Earnings before income taxes and minority interest   1,114 1,241
Income taxes 11 -440 -448
Minority interest 26 -404 -383
Net income   270 410
   
Basic earnings per ordinary share in € 12 1.71 2.64
Fully diluted earnings per ordinary share in €
12 1.58 2.61
Basic earnings per preference share in € 12 1.72 2.65
Fully diluted earnings per preference share in € 12 1.59 2.62
 
The following Notes are an integral part of the Consolidated Financial Statements.