贵州茅台利润表分析

贵州茅台利润表结构分析项目200920102009比重（%）2010比重（%）差异（%）营业收入2828135207.353639957612.24100.00100.000.00减:营业成本963088110.001174075050.9134.0532.26-1.80营业税金及附加798775796.971412773952.7428.2438.8110.57销售费用41712466.4041086446.711.471.13-0.35管理费用1094047301.361183527060.2838.6832.51-6.17财务费用-11477261.32-14407271.43-0.41-0.400.01资产减值损失444004.002210002.150.020.060.05加：公允价值变动收益

投资收益5888471899.626059149729.42208.21166.46-41.75

其中：对联营企业和合营企业的投资收益

营业利润5830016689.565899842100.30206.14162.09-44.06

加：营业外收入2943340.002783700.480.100.08-0.03减：营业外支出1228603.083477352.480.040.100.05其中：非流动资产处置损失

利润总额5831731426.485899148448.30206.20162.07-44.14

减：所得税费用-13591750.30-11731972.41-0.48-0.320.16净利润5845323176.785910880420.71206.68162.39-44.30除去投资收益后的利润表项目20092010营业收入2828135207.353639957612.24减:营业成本963088110.001174075050.91营业税金及附加798775796.971412773952.74销售费用41712466.4041086446.71管理费用1094047301.361183527060.28财务费用-11477261.32-14407271.43资产减值损失444004.002210002.15加：公允价值变动收益

投资收益0.000.00其中：对联营企业和合营企业的投资收益

营业利润-58455210.06-159307629.12加：营业外收入2943340.002783700.48减：营业外支出1228603.083477352.48其中：非流动资产处置损失

利润总额-56740473.14-160001281.12减：所得税费用-13591750.30-11731972.41净利润-43148722.84-148269308.71投资收益均来自长期股权投资成本法核算长期股权投资持股均50%以上被投资单位20092010贵州茅台酒销售有限公司5,883,521,899.626,053,099,729.42贵州茅台名将酒业有限公司2,750,000.003,300,000.00北京茅台神舟商贸有限公司2,200,000.002,750,000.00投资收益2009年猛增但未披露增长原因，合理性值得怀疑项目20092010变动额（%）变动率（%）营业收入2828135207.353639957612.24811822404.8928.71减:营业成本963088110.001174075050.91210986940.9121.91营业税金及附加798775796.971412773952.74613998155.7776.87销售费用41712466.4041086446.71-626019.69-1.50管理费用1094047301.361183527060.2889479758.928.18财务费用-11477261.32-14407271.43-2930010.1125.53资产减值损失444004.002210002.151765998.15397.74加：公允价值变动收益

投资收益5888471899.626059149729.42170677829.802.90其中：对联营企业和合营企业的投资收益

营业利润5830016689.565899842100.3069825410.741.20加：营业外收入2943340.002783700.48-159639.52-5.42减：营业外支出1228603.083477352.482248749.40183.03其中：非流动资产处置损失

利润总额5831731426.485899148448.3067417021.821.16减：所得税费用-13591750.30-11731972.411859777.89-13.68净利润5845323176.785910880420.7165557243.931.12利润表水平分析营业外支出增加是因为支付抗旱救灾款资产减值损失增加是因为计提坏账准备营业税金及附加增加是因为白酒消费税新政策的影响利润表项目分析营业收入分析项目20092010主营业务收入9,669,670,009.5911,632,417,331.90其他业务收入329,055.80866,408.28主营业务酒类占主营业务收入

100%公司前五名客户的营业收入占全部营业收入的6.98，均为非关联方营业收入增长不快要进一步扩大产能，加大销售力度利润表项目分析营业成本费用分析项目20092010变动额变动率（%）营业收入2828135207.353639957612.24811822404.8928.71营业成本963088110.001174075050.91210986940.9121.91销售费用41712466.4041086446.71-626019.69-1.50管理费用1094047301.361183527060.2889479758.928.18财务费用-11477261.32-14407271.43-2930010.1125.53营业成本增长与营业收入相匹配销售费用减少—〉主营业务收入增加主要因提价因素管理费用增加—〉管理人员工资开支加大财务费用减少—〉利息收入增加，筹