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Financial Statements
Annual Report 2003

Consolidated Financial Statements

CONSOLIDATED INCOME STATEMENTS



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Note 2003 2002*
€ million € million
Net sales 1 1.084.6 1,214.1
Cost of sales –949.7 –1,111.4
Gross profit 134.9 102.7
Selling expenses –50.0 –50.8
General administrative expenses –77.6 –77.2
Other operating income and expenses 2 439.6 339.1
Financial result, net 3 –152.1 –173.5
Income from operating activities before income taxes and minority interests 294.8 140.3
Income tax benefit 4 48.9 4.4
Profit due to minority interests 12 –13.0 –9.9
Income from continuing operations 330.7 134.8
Income from discontinued operations (net of tax) 691.7 58.3
Cumulative effect of application of SFAS 142 0.0 –28.8
Net income (attributable to Viterra) 1,022.4 164.3

*Including adjustment for discontinued operations and allowing for initial application of SFAS 142

The accompanying Notes are an integral part of the consolidated financial statements.

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