Consolidated income statement

x € 1 million	Note	2019	2018

Net revenue	4	1,220	1,270
Other income	5	14	16
Total net revenue and other income		1,234	1,286

Personnel expenses	6	405	409
Cost of sales and contracted work	7	300	327
Other operating expenses	8	220	207
Less: Capitalised own production	9	-180	-166
		745	777
Depreciation, amortisation and impairment of non-current assets	10	317	297
Total operating expenses		1,062	1,074
Operating profit		172	212

Financial income and expenses	11	-67	-72
Result from associates and joint ventures after income tax	13	247	-
Profit before income tax		352	140

Income tax	12	-27	-22
Profit after income tax from continuing operations		325	118

Result after income tax		325	118

Profit distribution:
Profit after income tax attributable to holders of Stedin Holding N.V. perpetual subordinated bonds (after income tax)		12	12
Profit after income tax attributable to the shareholders of Stedin Holding N.V.		313	106
Result after income tax		325	118

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