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Management’s discussion and analysis as of December 31, 2015
Consolidated sales and earnings performance
Income tax expense
Income taxes amounted to 597 million euros in 2015 compared with 709 million euros the year before. The effective tax rate was 34.8% (35.3% in
2014).
Net income attributable to non-controlling interests
Net income attributable to non-controlling interests came to 143 million euros
versus
118 million euros in 2014.
Net income from continuing operations – Group share
The Group reported net income from continuing operations of 977 million euros in 2015, compared with 1,182 million euros in 2014.
Net income from discontinued operations – Group share
In 2015, net income from discontinued operations amounted to In 2014, net income from discontinued operations consisted primarily
4
million euros, corresponding mainly to the final settlement of
of 88 million euros received in settlement of litigation dating back to
litigation dating back to prior years, less the loss generated by Dia prior years, less the 24 million euros loss arising on the closure of the
stores sold during the year or in the process of being sold at the Group's operations in India.
year-end.
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2015 REGISTRATION DOCUMENT