Change in Reported Like-for-like Effect of Currency effect
contribution from changes in
operations(1) in 2007 scope of
In millions of euros 44.8 57.6 7.2 (20.0)
In % +9.3% +11.9% + 1.5% - 4.1%
(1) Operating profit before share-based payments, restructuring costs and other non-recurring items, and goodwill impairment.
In all, contribution from operations increased 9.3% to EUR527.4 million in 2007, while the contribution margin was 0.2 points higher at 18.1% of revenue.
Other Income and Expenses from Operations
Other income and expenses from operations represented a net expense of EUR22.8 million in 2007, virtually unchanged from the previous year and amounting to 0.8% of revenue. These expense items comprised:
- Compensation costs on share-based payments (EUR20.2 million), reflecting stock option and performance share costs (EUR16.2 million) and costs related to the share price discounts and matching contributions to the Employee Stock Ownership Plan (EUR4 million).
- Goodwill impairment losses (EUR2.3 million).
- Restructuring costs on the conversion of part of the Mexican plant into a laboratory to serve the US market (EUR1.2 million).
They were partially offset by a EUR1.6 million capital gain on property disposals, in particular following the closure of a glass lens plant in Ireland.
In 2007, operating profit (corresponding to contribution from
operations plus or minus other income and expenses from operations and
gains and losses on asset disposals) rose 9.6% during the year to EUR504.6
million (17.3% of revenue) from EUR460.5 million (17.1%) in 2006.
Change in operating Reported Like-for-like Effect of
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