Management Report > Report on economic position > Results of operations, financial position, assets and liabilities > Results of operations > Development of other major items in the statement of income

Group gross profit rose to €6,383 million, exceeding the previous year’s gross profit of €6,288 million by 2% (4% in constant currency). The gross margin was 31.4% (2012: 32.6%). The cost of sales rose by 7% to €13,948 million (2012: €13,002 million). Cost of sales as a percentage of Group sales increased to 68.6% in 2013, compared to 67.4% in 2012. Selling, general, and administrative expenses consisted primarily of personnel costs, marketing and distribution costs, and depreciation and amortization. These expenses rose by 1% to €3,044 million (2012: €3,000 million). Their ratio as a percentage of Group sales decreased to 15.0% (2012: 15.6%). Depreciation and amortization was €843 million (2012: €776 million). The ratio as a percentage of sales was 4.1% (2012: 4.0%). Group Personnel costs increased to €7,360 million (2012: €6,896 million). The personnel cost ratio was 36.2% (2012: 35.7%). The chart below shows the earnings structure in 2013.

Group net interest decreased to - €584 million (2012: - €666 million). This includes one-time costs (€14 million) related to the early redemption of Senior Notes due in 2016. Lower average interest rates had a positive effect.

The Group tax rate (before special items) improved to 27.8% (2012: 29.1%).

Noncontrolling interest was €727 million (2012: €806 million). Of this, 94% was attributable to the noncontrolling interest in Fresenius Medical Care.

The table shows the profit margin development.

Back to:
Reconciliation to Group net income

Continue reading:
Value added