Financial Statements Hilti Corporation INCOME STATEMENT in CHF million Note 22002200 2019 Net sales 2,861.1 3,134.2 Change in inventory of finished goods and work in progress (0.1) 0.6 Capitalized own production 2.5 2.3 Other operating revenues 8.7 15.8 Total operating revenues 22,,887722..22 33,,115522..99 Material costs 12 (1,248.7) (1,448.1) Personnel expenses 13 (307.1) (339.1) Depreciation and amortization 14 (47.8) (45.0) Other operating expenses (869.9) (896.2) Total operating expenses ((22,,447733..55)) ((22,,772288..44)) Operating result 339988..77 442244..55 Financial revenues 15 187.1 74.5 Financial expenses 16 (193.3) (22.8) Financial result ((66..22)) 5511..77 Net income before income tax expense 339922..55 447766..22 Tax expense (49.1) (49.4) Net income 334433..44 442266..88 2020 Financial Report | 77