In € million

 

Notes

 

2018

 

2017

Sales

 

(F1)

 

11,299

 

10,984

of which revenue from non-core activities

 

(F3)

 

1,042

 

859

of which net sales

 

 

 

10,257

 

10,125

Cost of goods sold

 

 

 

(8,264)

 

(7,898)

Gross margin

 

 

 

3,035

 

3,086

Commercial costs

 

 

 

(373)

 

(400)

Administrative costs

 

 

 

(1,006)

 

(1,037)

Research and development costs

 

 

 

(297)

 

(290)

Other operating gains and losses

 

(F4)

 

(123)

 

(154)

Earnings from associates and joint ventures

 

(F25)

 

44

 

44

Results from portfolio management and reassessments

 

(F5)

 

(208)

 

(188)

Results from legacy remediation and major litigations

 

(F5)

 

(86)

 

(84)

EBIT

 

 

 

986

 

976

Cost of borrowings

 

(F6)

 

(131)

 

(172)

Interest on loans and short term deposits

 

(F6)

 

13

 

15

Other gains and losses on net indebtedness

 

(F6)

 

(1)

 

(44)

Cost of discounting provisions

 

(F6)

 

(77)

 

(97)

Profit for the year before taxes

 

 

 

791

 

678

Income taxes

 

(F7)

 

(95)

 

197

Profit for the year from continuing operations

 

 

 

697

 

875

Profit for the year from discontinued operations

 

(F8)

 

201

 

241

Profit for the year

 

(F9)

 

897

 

1,116

attributable to:

 

 

 

 

 

 

Solvay share

 

 

 

858

 

1,061

non-controlling interests

 

 

 

39

 

56

Basic earnings per share from continuing operations (€)

 

 

 

6.37

 

7.97

Basic earnings per share from discontinued operations (€)

 

 

 

1.94

 

2.29

Basic earnings per share (€)

 

(F10)

 

8.31

 

10.27

Diluted earnings per share from continuing operations (€)

 

 

 

6.34

 

7.92

Diluted earnings per share from discontinued operations (€)

 

 

 

1.93

 

2.28

Diluted earnings per share (€)

 

(F10)

 

8.27

 

10.19

The comparative figures of revenue from non-core activities and costs of goods sold have been restated for an amount of € 93 million, following a change in the presentation of revenues from non-core activities.

Moreover, in the 2017 Annual Report, commercial and administrative costs were presented in aggregate.