Compare the trend in profitability over 2-year period with and without nonrecurring items for the company (vertical and horizontal analysis + conclusions/interpretation):

EUR mn	Year 2	Year 1
Sales	7103	7047
COGS	(4295)	(4122)
SG&A	(1712)	(1724)
Depreciation	(235)	(260)
Interest expense	(146)	(149)
Gain on sale of business		127
Net Income	715	919

Answer rating: 100% (QA)

Horizontal and Vertical Analysis With Nonrecurring Items Horizontal Analysis EUR mn Year 2 Year 1 Am... View the full answer