Consolidated statement of income

for the year ended 31 December

Excel

(€ in thousands)

Notes

2014

2013

REVENUE

4

950,292

963,454

Cost of sales

5

426,966

442,207

GROSS RESULT

523,326

521,247

Research and development expenses

174,014

168,155

Amortisation of technology and databases

88,100

81,436

Marketing expenses

69,559

62,796

Selling, general and administrative expenses

170,539

183,314

TOTAL OPERATING EXPENSES1

6-9

502,212

495,701

OPERATING RESULT

21,114

25,546

Interest result

30

–3,145

–2,945

Other financial result

30

–3,720

–1,619

Result of associates

16

374

3,091

RESULT BEFORE TAX

14,623

24,073

Income tax gain / (charge)

10

8,032

–4,010

NET RESULT

22,655

20,063

Attributable to:

- Equity holders of the parent

22,549

19,539

- Non-controlling interests

26

106

524

NET RESULT

22,655

20,063

EARNINGS PER SHARE (in €)

25

Basic

0.10

0.09

Diluted

0.10

0.09

  1. The 2014 stock compensation expenses amounted to €8.7million and are presented within each of the functions of the Operating expenses. The 2013 comparative figures (€8.0 million) have been adjusted to follow this presentation.

The Notes to the Consolidated Financial Statements are an integral part of these consolidated financial statements.