Income Statement from January 1 to June 30

in CHF mn Notes % 2018 % 2019 Change in %
Net sales 1, 2 100 3,470.10 100 3,732.40 7.6
Material expenses 3 -46.4 -1,608.90 -46.2 -1,723.50  
Gross result   53.6 1,861.20 53.8 2,008.90 7.9
Personnel expenses 4 -19.4 -675 -19.6 -730.3  
Other operating expenses 5 -18.5 -641.4 -17.5 -654.8  
Operating profit before depreciation   15.7 544.8 16.7 623.8 14.5
Depreciation and amortization expenses   -2.9 -100.2 -3.8 -142.1  
Operating profit 2 12.8 444.6 12.9 481.7 8.3
Interest income   0.1 1.2 0.0 1.1  
Interest expenses 6 -0.3 -10.5 -0.7 -27.1  
Other financial income   0.1 3.4 0.1 3.8  
Other financial expenses 6 -0.5 -16.4 -0.6 -21.9  
Income from associated companies   0 0.4 0 0.4  
Profit before taxes   12.2 422.7 11.7 438 3.6
Income taxes   -3.0 -104.5 -2.8 -107.3  
             
Net profit   9.2 318.2 8.9 330.7 3.9
Profit attributable to Sika shareholders   9.1 316.2 8.8 327.5  
Profit attributable to non-controlling interests   0.1 2.0 0.1 3.2  
             
Undiluted earnings per share (in CHF)     2.12   2.31 9.0
Diluted earnings per share (in CHF) 1     2.11   2.11 0.0

1 Dilutive effect due to convertible bonds issued (for details on the convertible bonds see note 13).

Consolidated Statement of Comprehensive Income

in CHF mn % 1/1/2018 - 6/30/2018 % 1/1/2019 - 6/30/2019 Change in %
Net profit 9.2 318.2 8.9 330.7 3.9
Actuarial gains (+)/losses (-) on employee benefit obligation 0.1 5.8 0.5 21.3  
Income tax effect 0.0 -1 -0.1 -3.7  
Items that will not be reclassified to profit or loss 0.1 4.8 0.4 17.6  
           
Exchange differences taken to equity -0.6 -21.7 -1.3 -49.1  
Items that may be reclassified subsequently to profit or loss -0.6 -21.7 -1.3 -49.1  
           
Other comprehensive income -0.5 -16.9 -0.9 -31.5  
Comprehensive income 8.7 301.3 8.0 299.2 -0.7
Attributable to Sika shareholders 8.6 298.9 7.9 296.4  
Attributable to non-controlling interests 0.1 2.4 0.1 2.8  

Statement of Changes in Equity

in CHF mn Capital
stock
Capital
surplus
Treasury
shares
Currency
trans-
lation
differ-
ences
Retained
earnings
Total
Sika
share-
holders´
equity
Non-
control-
ling
interests
Total
equity
January 1, 2018 1.5 203.1 -6.6 -537.4 3,724.1 3,384.7 26.4 3,411.1
Profit for the period         316.2 316.2 2.0 318.2
Other comprehensive income       -22.1 4.8 -17.3 0.4 -16.9
Comprehensive income -22.1 321.0 298.9 2.4 301.3
Transactions with treasury shares1     -2,084.1             -11.1 -2,095.2   -2,095.2
Share-based payments         10.5 10.5   10.5
Issue of convertible bond2         40.7 40.7   40.7
Dividends3         -281.8 -281.8 -1.2 -283.0
Inflation adjustment4         0.9 0.9   0.9
Purchase of non-controlling interests            
June 30, 2018 1.5 203.1 -2,090.7 -559.5 3,804.3 1,358.7 27.6 1,386.3
                 
January 1, 2019 1.4 203.1 -11.1 -614.2 2,066.5 1,645.7 29.5 1,675.2
Impact of initial application of IFRS 16 Leases5         -7.9 -7.9   -7.9
January 1, 2019 (adjusted) 1.4 203.1 -11.1 -614.2 2,058.6 1,637.8 29.5 1,667.3
Profit for the period         327.5 327.5 3.2 330.7
Other comprehensive income       -48.7 17.6  -31.1 -0.4 -31.5
Comprehensive income -48.7 345.1 296.4 2.8 299.2
Transactions with treasury shares1     9.1   -8.4 0.7   0.7
Share-based payments         6.2 6.2   6.2
Issue of convertible bond2         1,137.5 1,137.5   1,137.5
Dividends6         -290.6 -290.6 -2.6 -293.2
Inflation adjustment4         7.8 7.8   7.8
Purchase of non-controlling interests           9.9 9.9
June 30, 2019 1.4 203.1 -2.0 -662.9 3,256.2 2,795.8 39.6 2,835.4

1 Including income tax of CHF 0.1 mn (CHF 0.2 mn). 
2 For details on the convertible bond see note 13. 
3 Dividend per share: CHF 1.85. 
4 Hyperinflation accounting concerns the subsidiary in Venezuela and Argentina.
5 Including deferred taxes of CHF 0.9 mn. For details on the initial application of IFRS 16 see principles of consolidation and valuation on page 12 
6 Dividend per share: CHF 2.05.