| Note | 2023 | 2024 | |
| € million | € million | ||
| Sales | 6 | 14,377 | 14,179 |
| Cost of goods sold | (12,071) | ( 12,002) | |
| Gross profit | 2,306 | 2,177 | |
| Selling expenses | (1,489) | (1,513) | |
| Research and development expenses | (374) | (392) | |
| General administration expenses | (360) | (343) | |
| Other operating income1 | 7 | 272 | 228 |
| Other operating expenses2 | 8 | (169) | (70) |
| EBIT3 | 186 | 87 | |
| Equity-method loss | (20) | (4) | |
| Result from other affiliated companies | 1 | 2 | |
| Interest income | 70 | 56 | |
| Interest expense | (160) | (145) | |
| Other financial result | (4) | (23) | |
| Financial result | 10 | (113) | (114) |
| Income before income taxes | 73 | (27) | |
| Income taxes | 11 | (275) | (245) |
| Income after income taxes | (202) | (272) | |
| attributable to noncontrolling interest | (4) | (6) | |
| attributable to Covestro AG shareholders (net income) | (198) | (266) | |
| € | € | ||
| Basic/diluted earnings per share4 | 12 | (1.05) | (1.41) |
1 Other operating income contains reversals of impairment losses amounting to €3 million (previous year: €3 million) on financial assets measured at amortized cost.
2 Other operating expenses contain impairment losses of €10 million (previous year: €6 million) on financial assets measured at amortized cost.
3 EBIT: income after income taxes plus financial result and income tax
4 Earnings per share: according to IAS 33 (Earnings per Share), net income divided by the weighted average number of outstanding no-par value voting shares of Covestro AG. The calculation for fiscal 2024 was based on 188,740,330 no-par value shares (previous year: 189,262,192). For further information, please refer to note 12 “Earnings per Share.”