Hi, I have a question. I am doing a financial analsis. Below is consolidated income...
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Hi, I have a question. I am doing a financial analsis. Below is consolidated income statement over five year of the company. I have to find the reason for any growth and loss. Net income goes down in 2014. Is this because operating income from continuing operations goes down? Or due to increase of income tax? Also, I want to know why some year income tax increase. Please help me. Thanks.
2018
2017
2016
2015
2014
2013
Sales
1,731,894
1,459,874
1,393,997
1,463,753
1,007,064
1,256,164
Cost of sales
(296,820)
(270,887)
(305,065)
(337,073)
(285,251)
(342,655)
Gross profit
1,435,074
1,188,987
1,088,932
1,126,680
721,813
913,509
R&D expenses
(690,592)
(548,735)
(509,779)
(580,554)
(433,900)
(435,011)
Marketing expenses
(339,274)
(316,806)
(305,735)
(284,965)
(279,957)
(304,941)
Administrative and IT expenses
(144,649)
(122,538)
(117,296)
(100,051)
(83,269)
(81,360)
Operating income from continuing operations
260,559
200,908
156,122
161,110
(75,313)
92,197
Goodwill depreciation
0
0
0
0
0
0
Other non-current operating income and expenses
(38,242)
(25,094)
(19,334)
(21,717)
(22,627)
(4,293)
Operating income
222,317
175,814
136,788
139,393
(97,940)
87,904
Interest on borrowings
(17,732)
(12,081)
(8,429)
(5,322)
(6,154)
(5,032)
Income from cash
1,823
1,265
989
556
369
403
Net borrowing cost
(15,909)
(10,816)
(7,440)
(4,766)
(5,785)
(4,629)
Result from foreign-exchange operations
(5,747)
(2,288)
(5,168)
1,159
(1,143)
709
Other financial expenses
(56)
(5,449)
(3,666)
(1,764)
(114)
(219)
Other financial income
8,312
2,348
2,548
6,083
17,376
8,138
Net financial income
(13,400)
(16,205)
(13,726)
712
10,334
3,999
Share in profit of associates
(224)
(339)
0
0
11
Total income tax
(69,241)
(51,457)
(29,654)
(53,094)
22,081
(27,083)
Income for the period
139,452
107,813
93,408
87,011
(65,525)
64,831
Answer & Explanation
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