Financial Statements Hilti Corporation INCOME STATEMENT in CHF million Note 2018 2017 Net sales 2,984.4 2,731.2 Change in inventory of finished goods and work in progress – 0.2 Capitalized own production 0.9 1.6 Other operating revenues 11.4 14.4 Total operating revenues 2,996.7 2,747.4 Material costs 12 (1,500.5) (1,355.3) Personnel expenses 13 (341.4) (320.2) Depreciation and amortization 14 (54.8) (69.8) Other operating expenses (826.5) (679.3) Total operating expenses (2,723.2) (2,424.6) Operating result 273.5 322.8 Financial revenues 15 173.0 142.0 Financial expenses 16 (32.4) (36.5) Financial result 140.6 105.5 Net income before income tax expense 414.1 428.3 Tax expense (33.3) (35.6) Net income 380.8 392.7 2018 Financial Report | 82