Question

An income statement for Group Danone, a French-based food processor that publishes IFRS-based financial statements, follows (in million euros):
Net sales .................... 12,776
Operating expenses .................(11,230)
Operating income ................ 1,546
Net cost of debt .................. (177)
Income before taxes ............... 1,369
Income tax ................... (410)
Income from consolidated companies ......... 959
Net income of equity-accounted affiliates ...... 87
Net income from continuing operations ....... 1,046
Net income from discontinued operations ....... 3,292
Net income ................... 4,338
a. Briefly explain each of the line items on the income statement.
b. Explain what must have happened at Danone that boosted net income by so much, and comment on possible implications for Danone’s future.



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  • CreatedAugust 19, 2014
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