performance

Income statement

For a meaningful analysis of our results, we need to look at the underlying results, which exclude one-off items, such as restructuring costs, integration costs, and certain incidental benefits or charges.

Income statement, underlying

in millions of €, unless otherwise indicated

note1
2014
2013
organic ∆%
Revenue
5.1
17,249.8
16,568.3
4
Cost of services
8.1
14,069.8
13,556.7
Gross profit
5.1
3,180.0
3,011.6
6

Personnel expenses
1,854.7
1,797.2
Other expenses
619.3
635.6
Operating expenses
8.2
2,474.0
2,432.8
2
EBITA
706.0
578.8
23
Gross margin
18.4%
18.2%
Operating expenses margin
14.3%
14.7%
EBITA margin
4.1%
3.5%
  1. 1 Note refers to the notes to the consolidated financial statements.