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Merck : Financial Statement (XLS)
August 13, 2020 at 03:33 am IST
Merck KGaA, Darmstadt, Germany
Contact
Merck KGaA, Darmstadt, Germany
Investor Relations
Frankfurter Strasse 250
64293 Darmstadt
Germany
Phone: +49 6151 72 3321
e-mail: investor.relations@merckgroup.com
www.merckgroup.com
WKN:
659990
ISIN:
DE0006599905
Ticker Symbol:
MRK
Financial Statements Q1 2019 - Q2 2020
Content
1 Income statements
1.1
Group, quarterly
1.2
Healthcare, quarterly
1.3
Life Science, quarterly
1.4
Performance Materials, quarterly
1.5
Corporate/Others, quarterly
2 Cash flow statement
3 Balance sheet
Summary
EBITDA pre Merck KGaA, Darmstadt, Germany
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Healthcare
332.0
527.8
859.8
500.8
1,360.6
561.1
1,061.9
1,921.7
472.1
374.0
846.2
42.2%
-29.1%
-1.6%
in % of net sales
22.4%
31.5%
27.2%
28.5%
27.7%
31.2%
29.9%
28.6%
27.8%
24.9%
26.4%
Life Science
515.7
533.3
1,049.0
531.1
1,580.1
548.7
1,079.8
2,128.9
552.7
569.0
1,121.8
7.2%
6.7%
6.9%
in % of net sales
31.0%
31.3%
31.2%
31.0%
31.1%
30.8%
30.9%
31.0%
31.2%
31.5%
31.4%
Performance Materials
192.6
190.3
382.9
177.5
560.4
243.0
420.5
803.4
285.5
238.3
523.8
48.3%
25.2%
36.8%
in % of net sales
31.9%
32.3%
32.1%
30.5%
31.6%
30.5%
30.5%
31.2%
31.7%
29.3%
30.6%
Corporate/Others
-111.8
-112.1
-223.9
-98.1
-322.0
-147.2
-245.3
-469.2
-129.1
-107.2
-236.2
15.5%
-4.5%
5.5%
Group
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
in % of net sales
24.8%
28.7%
26.8%
27.4%
27.0%
27.5%
27.5%
27.1%
27.0%
26.1%
26.6%
Sum of items may not foot due to rounding.
Group
Income Statement Merck KGaA, Darmstadt, Germany
Group
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Net sales
3,745.8
3,971.4
7,717.2
4,053.7
11,770.9
4,380.8
8,434.5
16,151.7
4,369.7
4,119.1
8,488.8
16.7%
3.7%
10.0%
Cost of sales
-1,383.5
-1,454.4
-2,838.0
-1,477.9
-4,315.9
-1,690.4
-3,168.3
-6,006.3
-1,653.5
-1,610.3
-3,263.9
19.5%
10.7%
15.0%
thereof amortization of intangible assets
-43.5
-43.7
-87.2
-44.0
-131.2
-56.9
-100.9
-188.1
-56.7
-57.2
-113.9
30.5%
30.7%
30.6%
Gross profit
2,362.2
2,517.0
4,879.2
2,575.8
7,455.1
2,690.4
5,266.2
10,145.5
2,716.2
2,508.7
5,224.9
15.0%
-0.3%
7.1%
in % of net sales
63.1%
63.4%
63.2%
63.5%
63.3%
61.4%
62.4%
62.8%
62.2%
60.9%
61.6%
SG&A
-1,456.8
-1,345.3
-2,802.1
-1,409.5
-4,211.6
-1,545.6
-2,955.2
-5,757.3
-1,421.0
-1,497.5
-2,918.6
-2.5%
11.3%
4.2%
in % of net sales
38.9%
33.9%
36.3%
34.8%
35.8%
35.3%
35.0%
35.6%
32.5%
36.4%
34.4%
Marketing and selling expenses
-1,090.8
-1,156.9
-2,247.6
-1,100.4
-3,348.1
-1,228.4
-2,328.8
-4,576.5
-1,058.7
-1,034.9
-2,093.6
-2.9%
-10.5%
-6.9%
thereof amortization of intangible assets (M&S)
-222.6
-225.0
-447.6
-217.6
-665.2
-257.4
-475.0
-922.6
-158.8
-165.2
-323.9
-28.7%
-26.6%
-27.6%
Administration expenses
-283.0
-269.1
-552.1
-267.5
-819.6
-334.3
-601.8
-1,153.9
-288.5
-298.3
-586.8
1.9%
10.8%
6.3%
Impairment losses and reversals (IFRS 9)
-3.9
2.2
-1.8
-1.2
-3.0
-4.6
-5.8
-7.5
6.0
-4.5
1.5
n.m.
n.m.
n.m.
Other operating expenses/income
-79.1
78.5
-0.6
-40.4
-40.9
21.6
-18.8
-19.3
-79.8
-159.9
-239.6
0.9%
n.m.
>1.000%
Impairments**
-0.0
0.0
-0.0
-8.4
-8.4
-0.7
-9.1
-9.1
-1.9
-111.7
-113.6
>1.000%
n.m.
>1.000%
Research and development
-526.6
-553.2
-1,079.9
-558.3
-1,638.1
-630.1
-1,188.4
-2,268.2
-579.2
-520.0
-1,099.2
10.0%
-6.0%
1.8%
in % of net sales
14.1%
13.9%
14.0%
13.8%
13.9%
14.4%
14.1%
14.0%
13.3%
12.6%
12.9%
thereof amortization of intangible assets (R&D)
-1.0
-0.7
-1.6
-1.9
-3.5
-5.1
-7.0
-8.6
-2.3
-2.8
-5.1
144.0%
327.7%
219.2%
EBIT
378.8
618.4
997.3
608.0
1,605.3
514.6
1,122.7
2,120.0
715.9
491.2
1,207.1
89.0%
-20.6%
21.0%
in % of net sales
10.1%
15.6%
12.9%
15.0%
13.6%
11.7%
13.3%
13.1%
16.4%
11.9%
14.2%
Depreciation and amortization
474.0
455.4
929.4
464.3
1,393.7
552.6
1,016.9
1,946.3
431.5
556.4
987.9
-9.0%
22.2%
6.3%
EBITDA
852.8
1,073.9
1,926.7
1,072.3
2,999.0
1,067.3
2,139.6
4,066.3
1,147.5
1,047.5
2,195.1
34.6%
-2.5%
13.9%
in % of net sales
22.8%
27.0%
25.0%
26.5%
25.5%
24.4%
25.4%
25.2%
26.3%
25.4%
25.9%
EBITDA pre
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
in % of net sales
24.8%
28.7%
26.8%
27.4%
27.0%
27.5%
27.5%
27.1%
27.0%
26.1%
26.6%
Financial result
-112.6
-61.1
-173.7
-134.9
-308.5
-76.1
-210.9
-384.6
-98.5
-102.3
-200.7
-12.5%
67.4%
15.6%
Profit before income tax from continuing operations
266.2
557.4
823.6
473.2
1,296.8
438.6
911.8
1,735.4
617.5
388.9
1,006.4
131.9%
-30.2%
22.2%
Income tax
-67.2
-136.2
-203.4
-133.7
-337.1
-102.6
-236.4
-439.8
-159.4
-99.9
-259.4
137.4%
-26.7%
27.5%
Income tax rate
25.2%
24.4%
24.7%
28.3%
26.0%
23.4%
25.9%
25.3%
25.8%
25.7%
25.8%
Profit after tax from continuing operations
199.1
421.1
620.2
339.5
959.7
335.9
675.4
1,295.6
458.0
289.0
747.0
130.1%
-31.4%
20.4%
Profit after tax from discontinued operations
-9.6
49.7
40.2
2.4
42.6
-14.7
-12.2
27.9
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Profit after tax
189.5
470.9
660.4
341.9
1,002.3
321.3
663.2
1,323.6
458.0
289.0
747.0
141.7%
-38.6%
13.1%
of which: attributable to Merck KGaA shareholders (net income)
188.6
470.9
659.5
342.7
1,002.2
318.1
660.8
1,320.2
456.1
289.8
745.9
141.9%
-38.5%
13.1%
of which: attributable to non-controlling interests
1.0
0.0
1.0
-0.8
0.1
3.2
2.4
3.3
1.9
-0.8
1.1
99.8%
n.m.
14.9%
EPS in €
0.43
1.08
1.52
0.79
2.31
0.73
1.52
3.04
1.05
0.67
1.72
144.2%
-38.0%
13.2%
thereof from continuing operations
0.45
0.97
1.42
0.78
2.20
0.77
1.55
2.97
1.05
0.67
1.72
133.3%
-30.9%
21.1%
thereof from discontinued operations
-0.02
0.11
0.09
0.01
0.10
-0.03
-0.02
0.07
0.00
0.00
0.00
-100.0%
-100.0%
-100.0%
EPS pre in €*
1.13
1.54
2.67
1.35
4.02
1.54
2.89
5.56
1.50
1.30
2.80
32.7%
-15.6%
4.9%
Number of theoretical shares in million
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
Reconciliation to EBITDA pre
EBITDA
852.8
1,073.9
1,926.7
1,072.3
2,999.0
1,067.3
2,139.6
4,066.3
1,147.5
1,047.5
2,195.1
34.5%
-2.5%
13.9%
Adjustments
thereof: Cost of Sales
16.0
3.4
19.4
7.3
26.7
29.4
36.7
56.1
20.2
2.5
22.7
26.5%
-27.1%
17.0%
thereof: Marketing and selling expenses
3.0
4.8
7.8
1.9
9.7
0.6
2.5
10.3
2.2
10.3
12.5
-26.2%
114.9%
60.8%
thereof: Administration expenses
36.7
10.6
47.4
21.9
69.3
39.8
61.7
109.0
16.4
32.8
49.2
-55.3%
207.7%
3.8%
thereof: Other operating expenses/income
4.3
29.5
33.8
17.6
51.4
62.8
80.4
114.2
-3.7
-18.6
-22.3
n.m.
n.m.
n.m.
thereof: Research and development
15.7
17.1
32.8
-9.7
23.1
5.8
-3.9
28.9
-1.2
-0.3
-1.6
n.m.
n.m.
n.m.
Total
75.7
65.4
141.1
39.0
180.1
138.4
177.3
318.5
33.8
26.7
60.5
-55.3%
-59.2%
-57.1%
EBITDA pre
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
Sum of items may not foot due to rounding.
* for continuing operations
** only reflects impairments which classified as adjustments
Group pre
Reconciliation to EBITDA, EBITDA pre and EPS pre
Group
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
a) Reconciliation to EBITDA and EBITDA pre
EBITDA
EBIT
378.8
618.4
997.3
608.0
1,605.3
514.6
1,122.7
2,120.0
715.9
491.2
1,207.1
89.0%
-20.6%
21.0%
Depreciation and amortization
474.0
455.4
929.4
464.3
1,393.7
552.6
1,016.9
1,946.3
431.6
556.4
987.9
-9.0%
22.2%
6.3%
Regular depreciation and amortization*
207.1
186.0
393.0
192.4
585.4
232.6
425.0
818.0
211.9
219.5
431.4
2.3%
18.0%
9.7%
Amortization of purchased intangible assets
266.9
269.5
536.4
263.5
799.9
319.4
582.9
1,119.2
217.8
225.2
443.0
-18.4%
-16.5%
-17.4%
Impairments**
0.0
-0.0
0.0
8.4
8.4
0.7
9.1
9.1
1.9
111.7
113.6
>1.000%
n.m.
>1.000%
Total
852.8
1,073.9
1,926.7
1,072.3
2,999.0
1,067.3
2,139.6
4,066.3
1,147.5
1,047.5
2,195.1
34.5%
-2.5%
13.9%
Adjustments
Acquisition costs
0.2
0.2
0.4
0.1
0.4
83.4
83.4
83.8
19.0
-29.5
-10.5
>1.000%
n.m.
n.m.
Restructuring costs
61.3
39.1
100.4
10.5
110.8
9.6
20.0
120.4
15.4
21.1
36.5
-74.8%
-45.9%
-63.6%
Integration costs/IT costs
13.0
22.0
35.0
27.8
62.8
32.4
60.2
95.2
21.7
37.0
58.8
67.0%
68.3%
67.8%
Gain (-)/ losses (+) on the divestment of businesses
1.8
-1.7
0.1
-3.7
-3.6
9.5
5.8
5.9
-30.0
2.1
-27.8
n.m.
n.m.
n.m.
Other one-time costs
-0.6
5.9
5.3
4.4
9.6
3.5
7.9
13.2
7.6
-4.0
3.5
n.m.
n.m.
-32.8%
Total
75.7
65.4
141.1
39.0
180.1
138.4
177.3
318.5
33.8
26.7
60.5
-55.3%
-59.2%
-57.1%
EBITDA pre
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
b) Reconciliation to EPS pre
1) Reconciliation starting from EBITDA pre
EBITDA pre
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
Regular depreciation and amortization*
-207.1
-186.0
-393.0
-192.4
-585.4
-232.6
-425.0
-818.0
-211.9
-219.5
-431.4
2.3%
18.0%
9.7%
Financial result
-112.6
-61.1
-173.7
-134.9
-308.5
-76.1
-210.9
-384.6
-98.5
-102.3
-200.7
-12.5%
67.4%
15.6%
Adjustments within Financial result
45.1
0.0
45.1
0.0
45.1
0.0
0.0
45.1
0.0
0.0
0.0
Profit before income tax pre
653.9
892.3
1,546.2
784.0
2,330.2
897.0
1,681.0
3,227.2
870.9
752.5
1,623.5
33.2%
-15.7%
5.0%
Income tax pre
-163.5
-223.1
-386.5
-196.0
-582.6
-224.2
-420.3
-806.8
-217.7
-188.1
-405.9
33.2%
-15.7%
5.0%
underlying tax rate
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
Non-controlling interest
-1.0
-0.0
-1.0
0.8
-0.1
-3.2
-2.4
-3.3
-1.9
0.8
-1.1
99.8%
n.m.
14.9%
Net income pre
489.5
669.2
1,158.7
588.8
1,747.5
669.5
1,258.4
2,417.1
651.3
565.2
1,216.5
33.1%
-15.5%
5.0%
EPS pre in €***
1.13
1.54
2.67
1.35
4.02
1.54
2.89
5.56
1.50
1.30
2.80
33.1%
-15.5%
5.0%
2) Reconciliation starting from Profit before tax
Profit before income tax
266.2
557.4
823.6
473.2
1,296.8
438.6
911.8
1,735.4
617.5
388.9
1,006.4
131.9%
-30.2%
22.2%
Amortization of purchased intangible assets
266.9
269.5
536.4
263.5
799.9
319.4
582.9
1,119.2
217.8
225.2
443.0
-18.4%
-16.5%
-17.4%
Impairments**
0.0
-0.0
0.0
8.4
8.4
0.7
9.1
9.1
1.9
111.7
113.6
>1.000%
n.m.
>1.000%
Adjustments
Acquisition costs
0.2
0.2
0.4
0.1
0.4
83.4
83.4
83.8
19.0
-29.5
-10.5
>1.000%
n.m.
n.m.
Restructuring costs
61.3
39.1
100.4
10.5
110.8
9.6
20.0
120.4
15.4
21.1
36.5
-74.8%
-45.9%
-63.6%
Integration costs/IT costs
13.0
22.0
35.0
27.8
62.8
32.4
60.2
95.2
21.7
37.0
58.8
67.0%
68.3%
67.8%
Gain (-)/ losses (+) on the divestment of businesses
1.8
-1.7
0.1
-3.7
-3.6
9.5
5.8
5.9
-30.0
2.1
-27.8
n.m.
n.m.
n.m.
Other one-time costs
-0.6
5.9
5.3
4.4
9.6
3.5
7.9
13.2
7.6
-4.0
3.5
n.m.
n.m.
-32.8%
Adjustments within Financial result
45.1
0.0
45.1
0.0
45.1
0.0
0.0
45.1
0.0
0.0
0.0
Total adjustments
120.7
65.4
186.2
39.0
225.1
138.4
177.3
363.5
33.8
26.7
60.5
-72.0%
-59.2%
-67.5%
Profit before income tax pre
653.9
892.3
1,546.2
784.0
2,330.2
897.0
1,681.0
3,227.2
870.9
752.5
1,623.5
33.2%
-15.7%
5.0%
Income tax pre
-163.5
-223.1
-386.5
-196.0
-582.6
-224.2
-420.3
-806.8
-217.7
-188.1
-405.9
33.2%
-15.7%
5.0%
underlying tax rate
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
25.0%
Total costs excluded from Net income
300.9
198.3
499.2
246.1
745.4
351.5
597.6
1,096.8
195.2
275.4
470.5
-35.1%
38.8%
-5.7%
Total costs excluded from EPS in €
0.69
0.46
1.15
0.57
1.71
0.81
1.37
2.52
0.45
0.63
1.08
-34.8%
37.0%
-6.1%
Non-controlling interest
-1.0
-0.0
-1.0
0.8
-0.1
-3.2
-2.4
-3.3
-1.9
0.8
-1.1
99.8%
n.m.
14.9%
Net income pre
489.5
669.2
1,158.7
588.8
1,747.5
669.5
1,258.4
2,417.1
651.3
565.2
1,216.5
33.1%
-15.5%
5.0%
EPS pre in €***
1.13
1.54
2.67
1.35
4.02
1.54
2.89
5.56
1.50
1.30
2.80
32.7%
-15.6%
4.9%
Number of theoretical shares in million
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
434.8
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
*** for continuing operations
Sum of items may not foot due to rounding.
Reconc. Group
Breakdown of depreciation and amortization and adjustments
Group
2019
2020
Change YoY
€ million
Division
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
a) Depreciation and amortization
Regular depreciation and amortization*
all
207.1
186.0
393.0
192.4
585.4
232.6
425.0
818.0
211.9
219.5
431.4
2.3%
18.0%
9.7%
Amortization of purchased intangible assets
Healthcare
HC
113.3
113.4
226.7
113.2
339.8
112.9
226.0
452.7
10.1
16.0
26.1
-91.1%
-85.9%
-88.5%
Life Science
LS
122.0
123.8
245.8
118.0
363.9
118.2
236.2
482.1
118.9
119.5
238.4
-2.6%
-3.5%
-3.0%
Performance Materials
PM
31.5
32.3
63.9
32.3
96.2
88.3
120.6
184.5
88.8
89.7
178.4
181.4%
177.4%
179.4%
Total
266.9
269.5
536.4
263.5
799.9
319.4
582.9
1,119.2
217.8
225.2
443.0
-18.4%
-16.5%
-17.4%
Impairments**
all
0.0
-0.0
0.0
8.4
8.4
0.7
9.1
9.1
1.9
111.7
113.6
>1.000%
n.m.
>1.000%
Total depreciation and amortization
474.0
455.4
929.4
464.3
1,393.7
552.6
1,016.9
1,946.3
431.6
556.4
987.9
-9.0%
22.2%
6.3%
b) Adjustments
Acquisition costs
0.2
0.2
0.4
0.1
0.4
83.4
83.4
83.8
19.0
-29.5
-10.5
>1.000%
n.m.
n.m.
Restructuring costs
Healthcare
HC
0.1
4.7
4.8
1.5
6.3
10.7
12.2
17.0
2.0
12.4
14.4
>1.000%
166.0%
199.5%
Life Science
LS
1.1
3.8
4.9
6.1
11.0
1.5
7.6
12.5
1.7
1.0
2.8
53.2%
-72.5%
-43.3%
Performance Materials
PM
34.1
26.3
60.5
0.9
61.3
-0.4
0.4
60.9
7.4
2.5
9.9
-78.4%
-90.6%
-83.7%
Corporate/Others
CO
25.9
4.3
30.2
2.0
32.2
-2.2
-0.2
30.0
4.3
5.2
9.5
-83.4%
20.9%
-68.5%
Total
61.3
39.1
100.4
10.5
110.8
9.6
20.0
120.4
15.4
21.1
36.5
-74.8%
-45.9%
-63.6%
Integration costs/IT costs
Integration Cost
LS/PM/CO
0.6
2.4
3.0
4.1
7.1
7.7
11.9
14.8
8.0
12.1
20.1
>1.000%
413.2%
581.7%
ERP/HR systems
all
12.4
19.6
32.1
23.6
55.7
24.7
48.3
80.4
13.7
24.9
38.6
10.6%
26.7%
20.5%
Total
13.0
22.0
35.0
27.8
62.8
32.4
60.2
95.2
21.7
37.0
58.8
67.0%
68.3%
67.8%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities
CO
0.0
-0.0
0.0
0.5
0.5
0.8
1.3
1.3
1.8
0.7
2.5
>1.000%
n.m.
n.m.
Costs related to former business activities
PM
0.0
0.0
0.0
0.0
0.0
0.2
0.2
0.2
0.1
0.0
0.1
n.m.
n.m.
n.m.
Sale of CH, Allergopharma and others
HC
0.8
-3.0
-2.1
-6.4
-8.5
4.0
-2.4
-4.5
-31.8
1.4
-30.4
n.m.
n.m.
>1.000%
Costs related to former business activities
LS
1.0
1.2
2.2
2.2
4.4
4.5
6.7
8.9
-0.0
0.0
0.0
n.m.
-96.9%
-99.6%
Total
1.8
-1.7
0.1
-3.7
-3.6
9.5
5.8
5.9
-30.0
2.1
-27.8
n.m.
n.m.
n.m.
Other one-time costs
Others
HC
0.1
0.1
0.1
-0.0
0.1
-0.1
-0.1
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
LS
0.0
0.0
0.0
-0.0
0.0
-0.0
-0.0
-0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
PM
0.0
0.0
0.0
-0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
CO
-0.7
5.8
5.1
4.4
9.5
3.6
8.0
13.1
7.6
-4.0
3.5
n.m.
n.m.
-30.9%
Total
-0.6
5.9
5.3
4.4
9.6
3.5
7.9
13.2
7.6
-4.0
3.5
n.m.
n.m.
-32.8%
Total adjustments
75.7
65.4
141.1
39.0
180.1
138.4
177.3
318.5
33.8
26.7
60.5
-55.3%
-59.2%
-57.1%
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
Sum of items may not foot due to rounding.
Healthcare
Income Statement Merck KGaA, Darmstadt, Germany
Healthcare
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Net sales
1,480.6
1,677.0
3,157.6
1,755.8
4,913.5
1,800.3
3,556.2
6,713.8
1,700.5
1,499.2
3,199.7
14.9%
-10.6%
1.3%
Cost of sales
-324.9
-421.2
-746.1
-417.8
-1,163.9
-441.3
-859.1
-1,605.2
-393.4
-364.4
-757.9
21.1%
-13.5%
1.6%
thereof amortization of intangible assets
-0.8
-1.1
-1.9
-0.9
-2.8
-0.9
-1.9
-3.8
-0.8
-0.7
-1.5
-6.2%
-29.7%
-19.4%
Gross profit
1,155.7
1,255.8
2,411.5
1,338.0
3,749.5
1,359.0
2,697.0
5,108.5
1,307.1
1,134.8
2,441.9
13.1%
-9.6%
1.3%
in % of net sales
78.1%
74.9%
76.4%
76.2%
76.3%
75.5%
75.8%
76.1%
76.9%
75.7%
76.3%
SG&A
-647.7
-516.0
-1,163.7
-584.0
-1,747.7
-545.8
-1,129.8
-2,293.5
-467.4
-499.8
-967.2
-27.8%
-3.1%
-16.9%
in % of net sales
43.7%
30.8%
36.9%
33.3%
35.6%
30.3%
31.8%
34.2%
27.5%
33.3%
30.2%
Marketing and selling expenses
-550.4
-599.4
-1,149.8
-560.5
-1,710.3
-594.9
-1,155.4
-2,305.2
-423.4
-409.1
-832.5
-23.1%
-31.8%
-27.6%
thereof amortization of intangible assets (M&S)
-112.2
-112.2
-224.3
-110.8
-335.1
-107.4
-218.2
-442.5
-7.5
-13.7
-21.1
-93.3%
-87.8%
-90.6%
Administration expenses
-87.5
-84.1
-171.7
-82.4
-254.0
-90.2
-172.5
-344.2
-79.5
-80.6
-160.0
-9.2%
-4.2%
-6.8%
Impairment losses and reversals (IFRS 9)
-3.6
2.3
-1.2
0.7
-0.5
-0.6
0.1
-1.1
4.9
-3.3
1.6
n.m.
n.m.
n.m.
Other operating expenses/income
-6.2
165.2
159.0
58.2
217.2
139.9
198.1
357.0
30.6
-6.9
23.7
n.m.
n.m.
-85.1%
Impairments**
0.0
0.0
0.0
0.0
0.0
-1.1
-1.1
-1.1
-1.9
0.0
-1.9
n.m.
n.m.
n.m.
Research and development
-380.3
-394.6
-774.9
-428.7
-1,203.6
-462.0
-890.7
-1,665.6
-417.4
-365.7
-783.2
9.8%
-7.3%
1.1%
in % of net sales
25.7%
23.5%
24.5%
24.4%
24.5%
25.7%
25.0%
24.8%
24.5%
24.4%
24.5%
thereof amortization of intangible assets (R&D)
-0.4
-0.2
-0.6
-1.5
-2.0
-4.6
-6.0
-6.6
-1.9
-1.6
-3.5
407.2%
769.7%
528.1%
EBIT
127.8
345.1
472.9
325.4
798.2
351.2
676.6
1,149.5
422.3
269.2
691.5
230.5%
-22.0%
46.2%
in % of net sales
8.6%
20.6%
15.0%
18.5%
16.2%
19.5%
19.0%
17.1%
24.8%
18.0%
21.6%
Depreciation and amortization
201.3
177.4
378.7
178.2
556.9
190.0
368.2
746.9
78.9
89.7
168.5
-60.8%
-49.4%
-55.5%
EBITDA
329.1
522.5
851.6
503.5
1,355.1
541.2
1,044.8
1,896.4
501.0
359.0
860.0
52.3%
-31.3%
1.0%
in % of net sales
22.2%
31.2%
27.0%
28.7%
27.6%
30.1%
29.4%
28.2%
29.5%
23.9%
26.9%
EBITDA pre
332.0
527.8
859.8
500.8
1,360.6
561.1
1,061.9
1,921.7
472.1
374.0
846.2
42.2%
-29.1%
-1.6%
in % of net sales
22.4%
31.5%
27.2%
28.5%
27.7%
31.2%
29.9%
28.6%
27.8%
24.9%
26.4%
Reconciliation to EBITDA pre
EBITDA
329.1
522.5
851.6
503.5
1,355.1
541.2
1,044.8
1,896.4
501.0
359.0
860.0
52.3%
-31.3%
1.0%
Adjustments
thereof: Cost of Sales
0.0
0.0
0.0
0.0
0.0
0.2
0.2
0.2
0.2
0.0
0.2
n.m.
n.m.
n.m.
thereof: Marketing and selling expenses
0.0
0.1
0.1
2.4
2.5
0.1
2.5
2.6
0.8
7.7
8.5
n.m.
>1.000%
>1.000%
thereof: Administration expenses
1.7
2.9
4.6
1.6
6.2
9.3
10.9
15.4
1.0
1.7
2.7
-39.5%
-40.9%
-40.4%
thereof: Other operating expenses/income
1.2
2.3
3.6
-7.5
-4.0
8.9
1.4
5.0
-30.9
5.7
-25.2
n.m.
143.7%
n.m.
thereof: Research and development
0.0
0.0
0.0
0.8
0.8
1.4
2.2
2.2
0.0
0.0
0.0
n.m.
-100.0%
129.0%
Total
2.9
5.3
8.2
-2.8
5.5
19.9
17.1
25.4
-28.9
15.1
-13.8
n.m.
183.3%
n.m.
EBITDA pre
332.0
527.8
859.8
500.8
1,360.6
561.1
1,061.9
1,921.7
472.1
374.0
846.2
42.2%
-29.1%
-1.6%
Sum of items may not foot due to rounding.
Reconc. Healthcare
Detailed reconciliation - Healthcare
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
EBIT
127.8
345.1
472.9
325.4
798.2
351.2
676.6
1,149.5
422.3
269.2
691.5
230.5%
-22.0%
46.2%
Regular depreciation and amortization*
88.0
64.1
152.0
65.0
217.0
76.1
141.1
293.1
66.8
73.7
140.5
-24.0%
15.1%
-7.6%
Amortization of purchased intangible assets
113.3
113.4
226.7
113.2
339.8
112.9
226.0
452.7
10.1
16.0
26.1
-91.1%
-85.9%
-88.5%
Impairments**
0.0
0.0
0.0
0.0
0.0
1.1
1.1
1.1
1.9
-0.0
1.9
n.m.
n.m.
n.m.
Total depreciation and amortization
201.3
177.4
378.7
178.2
556.9
190.0
368.2
746.9
78.8
89.7
168.5
-60.9%
-49.4%
-55.5%
EBITDA
329.1
522.5
851.6
503.5
1,355.1
541.2
1,044.8
1,896.4
501.0
359.0
860.0
52.3%
-31.3%
1.0%
Adjustments
Acquisition costs
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Restructuring costs
Restructuring costs
0.1
4.7
4.8
1.5
6.3
10.7
12.2
17.0
2.0
12.4
14.4
>1.000%
166.0%
199.5%
Total
0.1
4.7
4.8
1.5
6.3
10.7
12.2
17.0
2.0
12.4
14.4
>1.000%
166.0%
199.5%
Integration costs/IT costs
Integration Cost
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
ERP/HR systems
1.9
3.6
5.4
2.1
7.5
5.3
7.4
12.8
0.9
1.3
2.2
-50.9%
-63.7%
-59.3%
Total
1.9
3.6
5.4
2.1
7.5
5.3
7.4
12.8
0.9
1.3
2.2
-50.9%
-63.7%
-59.3%
Gain (-)/ losses (+) on the divestment of businesses
Sale of Kuvan and Biosimilars
0.0
-4.9
-4.8
0.0
-4.8
1.0
1.0
-3.8
0.1
-1.7
-1.7
43.5%
-64.8%
-65.8%
Sale of Consumer Health
0.8
1.9
2.7
-6.4
-3.7
2.9
-3.5
-0.8
4.6
3.0
7.7
494.6%
57.1%
183.7%
Sale of Allergopharma
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-36.5
-0.1
36.5
n.m.
Others
-0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
-0.1
0.0
0.0
0.0
n.m.
Total
0.8
-3.0
-2.1
-6.4
-8.5
4.0
-2.4
-4.5
-31.8
1.4
-30.4
n.m.
n.m.
>1.000%
Other one-time costs
Others
0.1
0.1
0.1
-0.0
0.1
-0.1
-0.1
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total
0.1
0.1
0.1
-0.0
0.1
-0.1
-0.1
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total adjustments
2.9
5.3
8.2
-2.8
5.5
19.9
17.1
25.4
-28.9
15.1
-13.8
n.m.
183.3%
n.m.
EBITDA pre
332.0
527.8
859.8
500.8
1,360.6
561.1
1,061.9
1,921.7
472.1
374.0
846.2
42.2%
-29.1%
-1.6%
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
Sum of items may not foot due to rounding.
Life Science
Income Statement Merck KGaA, Darmstadt, Germany
Life Science
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Net sales
1,661.0
1,705.5
3,366.5
1,715.2
5,081.7
1,782.6
3,497.9
6,864.3
1,768.9
1,806.2
3,575.1
6.5%
5.9%
6.2%
Cost of sales
-719.0
-723.9
-1,442.9
-747.8
-2,190.7
-770.8
-1,518.6
-2,961.5
-744.5
-773.7
-1,518.2
3.5%
6.9%
5.2%
thereof amortization of intangible assets
-14.4
-14.5
-28.9
-14.6
-43.5
-15.0
-29.6
-58.5
-15.0
-15.4
-30.3
3.7%
6.0%
4.9%
Gross profit
942.0
981.6
1,923.6
967.4
2,891.0
1,011.8
1,979.2
3,902.8
1,024.4
1,032.5
2,056.9
8.8%
5.2%
6.9%
in % of net sales
56.7%
57.6%
57.1%
56.4%
56.9%
56.8%
56.6%
56.9%
57.9%
57.2%
57.5%
SG&A
-566.8
-590.5
-1,157.3
-584.2
-1,741.4
-604.7
-1,188.9
-2,346.2
-603.8
-571.6
-1,175.4
6.5%
-3.2%
1.6%
in % of net sales
34.1%
34.6%
34.4%
34.1%
34.3%
33.9%
34.0%
34.2%
34.1%
31.6%
32.9%
Marketing and selling expenses
-469.5
-489.8
-959.3
-474.4
-1,433.7
-489.9
-964.3
-1,923.6
-497.5
-488.1
-985.6
6.0%
-0.3%
2.7%
thereof amortization of intangible assets (M&S)
-107.6
-109.3
-216.9
-103.4
-320.3
-103.2
-206.6
-423.5
-104.0
-104.1
-208.1
-3.4%
-4.7%
-4.1%
Administration expenses
-87.5
-68.4
-155.9
-83.2
-239.1
-101.9
-185.1
-341.1
-89.2
-100.3
-189.5
1.9%
46.6%
21.5%
Impairment losses and reversals (IFRS 9)
0.0
-0.3
-0.3
-2.6
-2.9
-3.8
-6.4
-6.7
0.4
-0.9
-0.4
>1.000%
187.5%
47.9%
Other operating expenses/income
-9.8
-32.0
-41.8
-23.9
-65.7
-9.1
-33.1
-74.8
-17.6
17.7
0.1
80.1%
n.m.
n.m.
Impairments**
-0.0
0.0
-0.0
-0.1
-0.1
-0.0
-0.1
-0.1
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Research and development
-61.8
-69.4
-131.2
-67.3
-198.5
-77.7
-145.0
-276.2
-75.3
-75.4
-150.7
21.9%
8.6%
14.8%
in % of net sales
3.7%
4.1%
3.9%
3.9%
3.9%
4.4%
4.1%
4.0%
4.3%
4.2%
4.2%
thereof amortization of intangible assets (R&D)
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
0.0
-0.0
135.8%
n.m.
1.8%
EBIT
313.4
321.7
635.1
316.0
951.1
329.3
645.3
1,280.4
345.3
385.6
730.9
10.2%
19.9%
15.1%
in % of net sales
18.9%
18.9%
18.9%
18.4%
18.7%
18.5%
18.4%
18.7%
19.5%
21.3%
20.4%
Depreciation and amortization
193.5
196.6
390.1
194.9
584.9
204.4
399.2
789.3
196.0
198.8
394.8
1.3%
1.1%
1.2%
EBITDA
506.8
518.3
1,025.1
510.9
1,536.0
533.7
1,044.6
2,069.7
541.3
584.4
1,125.7
6.8%
12.8%
9.8%
in % of net sales
30.5%
30.4%
30.5%
29.8%
30.2%
29.9%
29.9%
30.2%
30.6%
32.4%
31.5%
EBITDA pre
515.7
533.3
1,049.0
531.1
1,580.1
548.7
1,079.8
2,128.9
552.7
569.0
1,121.8
7.2%
6.7%
6.9%
in % of net sales
31.0%
31.3%
31.2%
31.0%
31.1%
30.8%
30.9%
31.0%
31.2%
31.5%
31.4%
Reconciliation to EBITDA pre
EBITDA
506.8
518.3
1,025.1
510.9
1,536.0
533.7
1,044.6
2,069.7
541.3
584.4
1,125.7
6.8%
12.8%
9.8%
Adjustments
thereof: Cost of Sales
0.7
0.5
1.2
2.3
3.4
1.6
3.8
5.0
0.2
0.0
0.3
-65.8%
-90.9%
-76.1%
thereof: Marketing and selling expenses
0.5
0.1
0.7
0.9
1.6
-0.0
0.9
1.5
0.1
-0.0
0.1
-85.7%
n.m.
-89.8%
thereof: Administration expenses
6.1
-0.6
5.5
6.0
11.6
22.1
28.2
33.7
9.3
12.1
21.5
52.0%
n.m.
286.9%
thereof: Other operating expenses/income
1.4
14.9
16.3
11.1
27.4
-8.7
2.4
18.8
1.8
-27.5
-25.8
28.7%
n.m.
n.m.
thereof: Research and development
0.2
0.0
0.2
0.0
0.2
0.0
0.0
0.1
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total
8.9
15.0
23.9
20.3
44.1
15.0
35.3
59.1
11.4
-15.4
-4.0
27.5%
n.m.
n.m.
EBITDA pre
515.7
533.3
1,049.0
531.1
1,580.1
548.7
1,079.8
2,128.9
552.7
569.0
1,121.8
7.2%
6.7%
6.9%
Sum of items may not foot due to rounding.
Reconc. Life Science
Detailed reconciliation - Life Science
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
EBIT
313.4
321.7
635.1
316.0
951.1
329.3
645.3
1,280.4
345.3
385.6
730.9
10.2%
19.9%
15.1%
Regular depreciation and amortization*
71.4
72.8
144.2
76.8
221.0
86.2
162.9
307.1
77.1
79.3
156.4
8.0%
8.9%
8.5%
Amortization of purchased intangible assets
122.0
123.8
245.8
118.0
363.9
118.2
236.2
482.1
118.9
119.5
238.4
-2.6%
-3.5%
-3.0%
Impairments**
0.0
-0.0
0.0
0.1
0.1
0.0
0.1
0.1
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total depreciation and amortization
193.5
196.6
390.1
194.9
584.9
204.4
399.2
789.3
196.0
198.8
394.8
1.3%
1.1%
1.2%
EBITDA
506.8
518.3
1,025.1
510.9
1,536.0
533.7
1,044.6
2,069.7
541.3
584.4
1,125.7
6.8%
12.8%
9.8%
Adjustments
Acquisition costs
0.2
0.2
0.4
0.1
0.4
1.6
1.7
2.0
0.0
-30.0
-30.0
-85.7%
n.m.
n.m.
Restructuring costs
Restructuring costs
1.1
3.8
4.9
6.1
11.0
1.5
7.6
12.5
1.7
1.0
2.8
53.2%
-72.5%
-43.3%
Total
1.1
3.8
4.9
6.1
11.0
1.5
7.6
12.5
1.7
1.0
2.8
53.2%
-72.5%
-43.3%
Integration costs/IT costs
Integration Cost
0.6
1.0
1.5
0.8
2.3
0.2
1.0
2.5
0.8
1.5
2.3
44.9%
53.7%
50.4%
ERP/HR systems
6.0
8.8
14.8
11.2
26.0
7.1
18.3
33.1
8.8
12.1
20.9
46.1%
38.0%
41.3%
Total
6.6
9.7
16.3
12.0
28.3
7.3
19.3
35.7
9.7
13.6
23.2
46.0%
39.5%
42.1%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities
1.0
1.2
2.2
2.2
4.4
4.5
6.7
8.9
-0.0
0.0
0.0
n.m.
-96.9%
-99.6%
Total
1.0
1.2
2.2
2.2
4.4
4.5
6.7
8.9
-0.0
0.0
0.0
n.m.
-96.9%
-99.6%
Other one-time costs
Others
0.0
0.0
0.0
-0.0
0.0
-0.0
-0.0
-0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total
0.0
0.0
0.0
-0.0
0.0
-0.0
-0.0
-0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total adjustments
8.9
15.0
23.9
20.3
44.1
15.0
35.3
59.1
11.4
-15.4
-4.0
28.0%
n.m.
n.m.
EBITDA pre
515.7
533.3
1,049.0
531.1
1,580.1
548.7
1,079.8
2,128.9
552.7
569.0
1,121.8
7.2%
6.7%
6.9%
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
Sum of items may not foot due to rounding.
Performance Materials
Income Statement Merck KGaA, Darmstadt, Germany
Performance Materials
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Net sales
604.1
589.0
1,193.1
582.7
1,775.8
797.9
1,380.5
2,573.6
900.3
813.6
1,713.9
49.0%
38.1%
43.7%
Cost of sales
-337.9
-306.9
-644.8
-314.7
-959.5
-477.2
-792.0
-1,436.8
-515.1
-472.0
-987.1
52.4%
53.8%
53.1%
thereof amortization of intangible assets
-28.2
-28.2
-56.4
-28.5
-84.9
-41.0
-69.5
-125.9
-41.0
-41.0
-82.0
45.3%
45.6%
45.5%
Gross profit
266.3
282.0
548.3
267.9
816.2
320.6
588.6
1,136.9
385.3
341.6
726.8
44.7%
21.1%
32.6%
in % of net sales
44.1%
47.9%
46.0%
46.0%
46.0%
40.2%
42.6%
44.2%
42.8%
42.0%
42.4%
SG&A
-99.3
-108.1
-207.4
-121.8
-329.2
-233.3
-355.1
-562.6
-197.6
-303.4
-501.0
99.0%
180.6%
141.6%
in % of net sales
16.4%
18.4%
17.4%
20.9%
18.5%
29.2%
25.7%
21.9%
21.9%
37.3%
29.2%
Marketing and selling expenses
-65.9
-66.1
-132.0
-61.0
-193.0
-136.0
-197.0
-329.0
-135.6
-133.9
-269.5
105.8%
102.6%
104.2%
thereof amortization of intangible assets (M&S)
-2.8
-3.7
-6.4
-3.4
-9.8
-46.8
-50.2
-56.6
-47.3
-47.4
-94.7
>1.000%
>1.000%
>1.000%
Administration expenses
-23.4
-25.3
-48.7
-29.6
-78.3
-39.3
-69.0
-117.7
-38.4
-44.4
-82.7
63.8%
75.5%
69.9%
Impairment losses and reversals (IFRS 9)
-0.1
-0.1
-0.1
0.5
0.4
0.1
0.6
0.5
0.6
-0.7
-0.1
n.m.
>1.000%
-19.6%
Other operating expenses/income
-9.9
-16.7
-26.6
-31.6
-58.2
-58.2
-89.8
-116.4
-24.2
-124.4
-148.6
144.8%
645.8%
459.2%
Impairments**
0.0
0.0
0.0
-8.3
-8.3
0.9
-7.4
-7.4
0.0
-111.6
-111.6
n.m.
n.m.
n.m.
Research and development
-71.8
-74.4
-146.1
-48.1
-194.2
-73.0
-121.1
-267.2
-71.3
-68.3
-139.7
-0.6%
-8.1%
-4.4%
in % of net sales
11.9%
12.6%
12.2%
8.3%
10.9%
9.2%
8.8%
10.4%
7.9%
8.4%
8.1%
thereof amortization of intangible assets (R&D)
-0.6
-0.5
-1.1
-0.5
-1.5
-0.5
-1.0
-2.0
-0.5
-1.2
-1.7
-22.2%
159.9%
59.4%
EBIT
95.2
99.5
194.8
98.1
292.8
14.3
112.3
307.1
116.3
-30.2
86.1
22.1%
n.m.
-55.8%
in % of net sales
15.8%
16.9%
16.3%
16.8%
16.5%
1.8%
8.1%
11.9%
12.9%
-3.7%
5.0%
Depreciation and amortization
61.9
61.7
123.6
71.3
194.9
135.1
206.4
330.0
134.7
249.2
383.9
117.5%
304.1%
210.6%
EBITDA
157.1
161.2
318.3
169.4
487.7
149.3
318.7
637.0
251.0
219.0
470.0
59.7%
35.9%
47.6%
in % of net sales
26.0%
27.4%
26.7%
29.1%
27.5%
18.7%
23.1%
24.8%
27.9%
26.9%
27.4%
EBITDA pre
192.6
190.3
382.9
177.5
560.4
243.0
420.5
803.4
285.5
238.3
523.8
48.3%
25.2%
36.8%
in % of net sales
31.9%
32.3%
32.1%
30.5%
31.6%
30.5%
30.5%
31.2%
31.7%
29.3%
30.6%
Reconciliation to EBITDA pre
EBITDA
157.1
161.2
318.3
169.4
487.7
149.3
318.7
637.0
251.0
219.0
470.0
59.7%
35.9%
47.6%
Adjustments
thereof: Cost of Sales
15.3
3.0
18.2
5.0
23.3
27.7
32.7
50.9
19.8
2.5
22.2
29.6%
-16.7%
22.0%
thereof: Marketing and selling expenses
2.4
4.6
7.0
-1.4
5.6
0.4
-0.9
6.1
1.3
2.6
3.9
-46.5%
-42.3%
-43.8%
thereof: Administration expenses
1.3
0.9
2.2
6.8
9.0
1.6
8.4
10.6
0.3
8.6
8.9
-75.7%
812.7%
301.2%
thereof: Other operating expenses/income
0.9
3.6
4.5
8.1
12.7
59.7
67.8
72.3
14.4
5.9
20.3
>1.000%
63.0%
349.3%
thereof: Research and development
15.5
17.0
32.6
-10.5
22.1
4.4
-6.2
26.4
-1.3
-0.3
-1.6
n.m.
n.m.
n.m.
Total
35.4
29.1
64.6
8.1
72.6
93.7
101.8
166.4
34.6
19.2
53.8
-2.4%
-34.0%
-16.7%
EBITDA pre
192.6
190.3
382.9
177.5
560.4
243.0
420.5
803.4
285.5
238.3
523.8
48.3%
25.2%
36.8%
Sum of items may not foot due to rounding.
Reconc. Performance Materials
Detailed reconciliation - Performance Materials
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
EBIT
95.2
99.5
194.8
98.1
292.8
14.3
112.3
307.1
116.3
-30.2
86.1
22.1%
n.m.
-55.8%
Regular depreciation and amortization*
30.4
29.4
59.7
30.7
90.4
47.6
78.3
138.0
45.9
47.9
93.8
51.2%
63.3%
57.2%
Amortization of purchased intangible assets
31.5
32.3
63.9
32.3
96.2
88.3
120.6
184.5
88.8
89.7
178.4
181.4%
177.4%
179.4%
Impairments**
0.0
0.0
0.0
8.3
8.3
-0.9
7.4
7.4
0.0
111.6
111.6
n.m.
n.m.
n.m.
Total depreciation and amortization
61.9
61.7
123.6
71.3
194.9
135.1
206.4
330.0
134.7
249.2
383.9
117.5%
304.1%
210.6%
EBITDA
157.1
161.2
318.3
169.4
487.7
149.3
318.7
637.0
251.0
219.0
470.0
59.7%
35.9%
47.6%
Adjustments
Acquisition costs
0.0
0.0
0.0
0.0
0.0
81.8
81.8
81.8
19.0
0.5
19.4
n.m.
n.m.
n.m.
Restructuring costs
Restructuring costs
34.1
26.3
60.5
0.9
61.3
-0.4
0.4
60.9
7.4
2.5
9.9
-78.4%
-90.6%
-83.7%
Total
34.1
26.3
60.5
0.9
61.3
-0.4
0.4
60.9
7.4
2.5
9.9
-78.4%
-90.6%
-83.7%
Integration costs/IT costs
Integration Cost
0.0
1.3
1.3
3.3
4.6
7.5
10.8
12.1
7.1
10.7
17.8
>1.000%
724.0%
>1.000%
ERP/HR systems
1.3
1.5
2.8
3.9
6.7
4.7
8.6
11.4
1.1
5.6
6.6
-18.7%
269.8%
136.1%
Total
1.3
2.8
4.1
7.2
11.3
12.2
19.4
23.5
8.2
16.3
24.5
525.0%
479.9%
494.2%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities
0.0
0.0
0.0
0.0
0.0
0.2
0.2
0.2
0.1
0.0
0.1
n.m.
n.m.
n.m.
Total
0.0
0.0
0.0
0.0
0.0
0.2
0.2
0.2
0.1
0.0
0.1
n.m.
n.m.
n.m.
Other one-time costs
Others
0.0
0.0
0.0
-0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total
0.0
0.0
0.0
-0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Total adjustments
35.4
29.1
64.6
8.1
72.6
93.7
101.8
166.4
34.6
19.2
53.8
-2.4%
-34.0%
-16.7%
EBITDA pre
192.6
190.3
382.9
177.5
560.4
243.0
420.5
803.4
285.5
238.3
523.8
48.3%
25.2%
36.8%
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
Sum of items may not foot due to rounding.
Corporate Others
Income Statement Merck KGaA, Darmstadt, Germany
Corporate/Others
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Net sales
0.0
0.0
0.0
0.0
0.0
-0.0
0.0
0.0
-0.0
-0.0
-0.0
n.m.
n.m.
n.m.
Cost of sales
-1.8
-2.4
-4.1
2.5
-1.7
-1.1
1.4
-2.8
-0.6
-0.2
-0.8
-65.0%
-93.6%
-81.4%
thereof amortization of intangible assets
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Gross profit
-1.8
-2.4
-4.1
2.5
-1.7
-1.1
1.4
-2.7
-0.6
-0.2
-0.8
-65.0%
-93.6%
-81.4%
SG&A
-143.0
-130.7
-273.7
-119.6
-393.3
-161.8
-281.4
-555.1
-152.2
-122.8
-275.0
6.4%
-6.1%
0.5%
Marketing and selling expenses
-5.0
-1.6
-6.6
-4.4
-11.0
-7.7
-12.1
-18.7
-2.2
-3.8
-6.0
-55.5%
133.5%
-9.4%
thereof amortization of intangible assets (M&S)
-0.1
0.1
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-99.7%
n.m.
2.8%
Administration expenses
-84.6
-91.3
-175.8
-72.3
-248.1
-102.9
-175.2
-351.0
-81.6
-73.0
-154.6
-3.5%
-20.0%
-12.1%
Impairment losses and reversals (IFRS 9)
-0.3
0.2
-0.1
0.2
0.1
-0.3
-0.1
-0.2
0.1
0.3
0.4
n.m.
74.1%
n.m.
Other operating expenses/income
-53.2
-38.0
-91.2
-43.0
-134.2
-50.9
-94.0
-185.1
-68.5
-46.3
-114.8
28.8%
21.8%
25.9%
Impairments**
0.0
0.0
0.0
0.0
0.0
-0.4
-0.4
-0.4
0.0
-0.2
-0.2
n.m.
n.m.
n.m.
Research and development
-12.8
-14.8
-27.6
-14.3
-41.9
-17.3
-31.6
-59.2
-15.0
-10.6
-25.6
17.9%
-28.7%
-7.1%
thereof amortization of intangible assets (R&D)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
EBIT
-157.5
-147.9
-305.4
-131.4
-436.8
-180.2
-311.5
-617.0
-167.9
-133.5
-301.4
6.6%
-9.7%
-1.3%
Depreciation and amortization
17.3
19.7
37.1
19.9
57.0
23.2
43.1
80.2
22.1
18.6
40.8
27.5%
-5.6%
9.9%
EBITDA
-140.2
-128.1
-268.3
-111.5
-379.8
-157.0
-268.5
-536.8
-145.8
-114.8
-260.6
4.0%
-10.4%
-2.9%
EBITDA pre
-111.8
-112.1
-223.9
-98.1
-322.0
-147.2
-245.3
-469.2
-129.1
-107.2
-236.2
15.5%
-4.5%
5.5%
Reconciliation to EBITDA pre
EBITDA
-140.2
-128.1
-268.3
-111.5
-379.8
-157.0
-268.5
-536.8
-145.8
-114.8
-260.6
4.0%
-10.4%
-2.9%
Adjustments
thereof: Cost of Sales
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
thereof: Marketing and selling expenses
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.0
0.0
0.0
n.m.
n.m.
n.m.
thereof: Administration expenses
27.6
7.4
35.0
7.5
42.5
6.8
14.3
49.3
5.7
10.4
16.1
-79.2%
39.6%
-54.0%
thereof: Other operating expenses/income
0.8
8.6
9.4
6.0
15.4
2.9
8.8
18.2
11.0
-2.7
8.3
>1.000%
n.m.
-11.6%
thereof: Research and development
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Total
28.4
16.0
44.4
13.4
57.8
9.8
23.2
67.6
16.7
7.7
24.4
-41.2%
-51.9%
-45.0%
EBITDA pre
-111.8
-112.1
-223.9
-98.1
-322.0
-147.2
-245.3
-469.2
-129.1
-107.2
-236.2
15.5%
-4.5%
5.5%
Sum of items may not foot due to rounding.
Reconc. Corporate Others
Detailed reconciliation - Corporate / Others
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
EBIT
-157.5
-147.9
-305.4
-131.4
-436.8
-180.2
-311.5
-617.0
-167.9
-133.5
-301.4
6.6%
-9.7%
-1.3%
Regular depreciation and amortization*
17.2
19.9
37.1
19.9
57.0
22.8
42.6
79.7
22.1
18.5
40.6
28.2%
-6.9%
9.4%
Amortization of purchased intangible assets
0.1
-0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-99.7%
n.m.
2.8%
Impairments**
0.0
0.0
0.0
0.0
0.0
0.4
0.4
0.4
0.0
0.2
0.2
n.m.
n.m.
n.m.
Total depreciation and amortization
17.3
19.8
37.1
19.9
57.0
23.2
43.1
80.2
22.1
18.6
40.8
27.5%
-5.6%
9.9%
EBITDA
-140.2
-128.1
-268.3
-111.5
-379.8
-157.0
-268.5
-536.8
-145.8
-114.8
-260.6
4.0%
-10.4%
-2.9%
Adjustments
Acquisition costs
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Restructuring costs
Restructuring costs
25.9
4.3
30.2
2.0
32.2
-2.2
-0.2
30.0
4.3
5.2
9.5
-83.4%
20.9%
-68.5%
Total
25.9
4.3
30.2
2.0
32.2
-2.2
-0.2
30.0
4.3
5.2
9.5
-83.4%
20.9%
-68.5%
IT project costs
Integration Cost
0.0
0.1
0.1
0.1
0.2
-0.0
0.1
0.2
0.0
-0.0
0.0
ERP/HR systems
3.2
5.8
9.0
6.4
15.4
7.6
14.0
23.0
2.9
5.9
8.9
-8.1%
2.1%
-1.5%
Total
3.2
5.9
9.1
6.5
15.6
7.6
14.1
23.2
3.0
5.9
8.9
-6.7%
-0.5%
-2.7%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities
0.0
-0.0
0.0
0.5
0.5
0.8
1.3
1.3
1.8
0.7
2.5
>1.000%
n.m.
n.m.
Total
0.0
-0.0
0.0
0.5
0.5
0.8
1.3
1.3
1.8
0.7
2.5
>1.000%
n.m.
n.m.
Other one-time costs
Others
-0.7
5.8
5.1
4.4
9.5
3.6
8.0
13.1
7.6
-4.0
3.5
n.m.
n.m.
-30.9%
Total
-0.7
5.8
5.1
4.4
9.5
3.6
8.0
13.1
7.6
-4.0
3.5
n.m.
n.m.
-30.9%
Total adjustments
28.4
16.0
44.4
13.4
57.8
9.8
23.2
67.6
16.7
7.7
24.4
-41.2%
-51.9%
-45.0%
EBITDA pre
-111.8
-112.1
-223.9
-98.1
-322.0
-147.2
-245.3
-469.2
-129.1
-107.2
-236.2
15.5%
-4.5%
5.5%
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** only reflects impairments which classified as adjustments
Sum of items may not foot due to rounding.
Cash Flow Statement Q
Cash Flow Statement Merck KGaA, Darmstadt, Germany
Group
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Profit after tax
189.5
470.9
660.4
341.9
1,002.3
321.3
663.2
1,323.6
458.0
289.0
747.1
141.7%
-38.6%
13.1%
Depreciation/amortization/impairment losses/write-ups
474.0
453.0
927.0
464.2
1,391.3
552.4
1,016.6
1,943.6
431.5
559.3
990.7
-9.0%
23.4%
6.9%
of tangible assets
161.7
167.2
328.9
181.6
510.4
208.0
389.6
718.5
189.3
208.0
397.3
17.1%
24.4%
20.8%
of intangible assets
312.3
288.3
600.6
282.7
883.3
344.6
627.3
1,227.9
242.3
348.3
590.6
-22.4%
20.8%
-1.7%
of financial assets
0.0
-2.4
-2.4
-0.1
-2.5
-0.3
-0.3
-2.7
-0.1
2.9
2.8
n.m.
n.m.
n.m.
Changes in working capital
-178.2
-58.3
-236.4
-93.9
-330.3
160.8
66.9
-169.5
-355.8
-112.4
-468.3
99.7%
93.0%
98.1%
Changes in inventories
-145.7
-113.2
-258.9
-57.4
-316.4
-7.1
-64.6
-323.5
-128.7
-117.9
-246.6
-11.7%
4.2%
-4.8%
Changes in trade accounts receivable
-14.9
-103.9
-118.8
-23.1
-141.9
95.2
72.1
-46.8
-254.3
74.7
-179.6
>1.000%
n.m.
51.2%
Changes in trade accounts payable
-17.5
158.8
141.3
-13.3
128.0
72.8
59.5
200.8
27.1
-69.2
-42.0
n.m.
n.m.
n.m.
Changes in provisions
100.2
-46.6
53.6
80.6
134.2
19.0
99.6
153.2
15.8
-53.8
-38.0
-84.2%
15.4%
n.m.
Changes in other assets and liabilities
-89.1
-25.8
-114.9
128.8
13.9
-404.6
-275.8
-390.7
-22.9
-166.5
-189.3
-74.3%
544.7%
64.8%
Neutralization of gain/loss on disposal of assets
1.0
-50.3
-49.3
10.0
-39.3
-17.9
-8.0
-57.3
-34.6
-3.9
-38.4
n.m.
-92.3%
-22.0%
Other non-cash income and expenses
-5.0
-0.2
-5.3
-1.0
-6.3
59.5
58.5
53.2
24.4
-9.5
14.9
n.m.
>1.000%
n.m.
Net cash flows from operating activities
492.5
742.6
1,235.1
930.6
2,165.8
690.4
1,621.0
2,856.2
516.5
502.2
1,018.7
4.9%
-32.4%
-17.5%
thereof: from discontinued operations
0.0
-11.6
-11.6
11.6
0.0
0.0
11.6
0.0
0.0
0.0
0.0
n.m.
-100.0%
-100.0%
Purchase of intangible assets
-9.2
-83.4
-92.6
-29.3
-121.8
-86.4
-115.6
-208.2
-17.9
-48.4
-66.3
95.0%
-41.9%
-28.4%
Disposal of intangible assets
17.2
-0.3
16.9
7.6
24.5
-1.6
6.0
22.9
6.0
7.1
13.1
-64.9%
n.m.
-22.3%
Purchase of property, plant and equipment
-208.7
-165.0
-373.8
-192.7
-566.5
-246.4
-439.1
-812.9
-340.8
-200.4
-541.2
63.3%
21.4%
44.8%
Disposal of property, plant and equipment
2.9
3.5
6.4
-1.1
5.3
25.4
24.3
30.7
3.5
6.1
9.5
20.0%
73.6%
49.3%
Acquisitions
-0.5
-9.7
-10.2
-56.4
-66.6
-4,960.1
-5,009.1
-5,019.8
-0.8
-5.8
-6.5
50.2%
-40.8%
-36.3%
Divestments
-1.4
-90.6
-92.1
-5.7
-97.8
-12.4
-18.2
-110.2
56.1
-0.3
55.8
n.m.
-99.7%
n.m.
Changes/ Purchase of financial assets
-37.0
-127.4
-164.4
-4.0
-168.5
-21.0
-32.4
-196.3
-25.6
-12.4
-38.0
-30.8%
-90.2%
-76.9%
Disposal of financial assets
7.7
2.8
10.4
72.4
82.8
56.7
129.0
139.5
31.3
38.4
69.7
309.2%
>1.000%
569.5%
Payments for investments in non-financial assets
-100.0
-399.9
-499.9
0.0
-499.9
0.0
0.0
-499.9
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Disposal of non-financial non-operative assets
0.0
0.0
0.0
0.0
0.0
501.5
501.5
501.5
0.0
0.0
0.0
n.m.
n.m.
n.m.
Net cash flows from investing activities
-329.1
-870.1
-1,199.2
-209.2
-1,408.4
-4,744.4
-4,953.6
-6,152.8
-288.1
-215.8
-503.9
-12.4%
-75.2%
-58.0%
thereof: from discontinued operations
-4.8
-106.9
-111.7
-6.4
-118.1
-11.3
-17.7
-129.4
0.0
0.0
0.0
-100.0%
-100.0%
-100.0%
Dividend payments to Merck KGaA shareholders
0.0
-161.6
-161.6
0.0
-161.6
0.0
0.0
-161.6
0.0
-168.0
-168.0
n.m.
4.0%
4.0%
Dividend payments to non-controlling interests
0.0
-11.4
-11.4
-0.2
-11.5
-0.1
-0.3
-11.7
-5.1
-0.2
-5.3
n.m.
-98.0%
-53.1%
Profit transferred to E.Merck
-61.5
-453.9
-515.4
0.0
-515.4
0.0
0.0
-515.4
-57.6
-454.6
-512.2
-6.3%
0.1%
-0.6%
Changes in financial liabilities to E.Merck
9.0
396.7
405.7
-193.8
212.0
-224.4
-418.2
-12.4
-34.1
389.6
355.5
n.m.
-1.8%
-12.4%
Other changes in net equity
-0.0
0.0
-0.0
0.0
-0.0
0.0
0.0
-0.0
0.0
-0.0
-0.0
n.m.
n.m.
-94.0%
Changes in current and non-current financial liabilities
49.2
1,473.8
1,523.1
1,128.0
2,651.1
-48.2
1,079.8
2,602.9
638.2
-68.9
569.3
>1.000%
n.m.
-62.6%
Other changes from financing activities
-0.0
0.0
0.0
0.0
0.1
-0.0
0.0
0.1
0.1
-0.0
0.1
n.m.
n.m.
95.3%
Net cash flows from financing activities
-3.2
1,243.8
1,240.5
934.1
2,174.7
-272.7
661.4
1,901.9
541.5
-302.1
239.4
n.m.
n.m.
-80.7%
thereof: from discontinued operations
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Changes in cash and cash equivalents
160.2
1,116.3
1,276.5
1,655.5
2,932.0
-4,326.7
-2,671.2
-1,394.7
769.9
-15.7
754.2
380.6%
n.m.
-40.9%
Changes in cash and cash equivalents due to currency translation
9.4
-5.7
3.7
5.4
9.2
-4.1
1.3
5.0
-20.1
-2.7
-22.8
n.m.
-53.0%
n.m.
Cash and cash equivalents as of January 1st
2,170.3
0.0
2,170.3
0.0
2,170.3
0.0
0.0
2,170.3
780.6
0.0
780.6
-64.0%
n.m.
-64.0%
Cash and cash equivalents
2,340.0
1,110.5
3,450.5
1,661.0
5,111.5
-4,330.9
-2,669.9
780.6
1,530.4
-18.4
1,512.0
-34.6%
n.m.
-56.2%
Changes in cash and cash equivalents due to change in scope of consolidation
0.0
0.0
0.0
0.0
0.0
-0.0
-0.0
-0.0
0.0
0.0
0.0
n.m.
n.m.
n.m.
Business Free Cash Flow
EBITDA pre
928.5
1,139.3
2,067.8
1,111.3
3,179.1
1,205.7
2,316.9
4,384.8
1,181.3
1,074.2
2,255.5
27.2%
-5.7%
9.1%
CAPEX on PPE and Software
-125.7
-193.2
-318.9
-209.6
-528.5
-497.9
-707.5
-1,026.4
-175.3
-220.9
-396.2
39.4%
14.3%
24.2%
Changes in inventory
-172.9
-95.9
-268.8
-101.9
-370.6
-206.9
-308.7
-577.5
-101.3
-94.0
-195.3
-41.4%
-2.0%
-27.3%
Changes in trade accounts receivable
-58.9
-116.1
-175.0
-33.6
-208.6
-50.8
-84.4
-259.4
-161.5
84.8
-76.7
174.3%
n.m.
-56.2%
Leasing payments
-26.0
-33.1
-59.2
-34.8
-94.0
-41.8
-76.7
-135.8
-36.4
-31.2
-67.6
39.8%
-5.9%
14.2%
Adjustments Business Free Cash Flow
0.0
0.0
0.0
0.0
0.0
345.6
345.6
345.6
-45.3
0.0
-45.3
n.m.
n.m.
n.m.
Business Free Cash Flow
545.0
701.0
1,246.0
731.4
1,977.5
753.8
1,485.3
2,731.3
661.5
812.9
1,474.4
21.4%
16.0%
18.3%
Healthcare
222.1
345.8
567.8
310.7
878.5
373.4
684.0
1,251.8
377.2
261.2
638.4
69.9%
-24.4%
12.4%
Life Science
268.2
323.2
591.4
410.1
1,001.5
372.7
782.8
1,374.2
246.1
471.8
717.9
-8.2%
46.0%
21.4%
Performance Materials
172.4
153.2
325.6
120.7
446.3
195.1
315.8
641.4
184.4
204.5
388.9
7.0%
33.5%
19.4%
Corporate & Others
-117.6
-121.2
-238.8
-110.0
-348.8
-187.3
-297.3
-536.1
-146.2
-124.6
-270.7
24.3%
2.8%
13.4%
Balance Sheet
Balance Sheet Merck KGaA, Darmstadt, Germany
Group
2019
2020
Shares of Totals
2011
Shares of Totals
2012
€ million
31-Mar
30-Jun
30-Sep
31. Dez
31-Mar
30-Jun
30-Sep
31-Dec
31-Mar
30-Jun
30-Sep
31. Dez
31-Mar
30-Jun
30-Sep
31-Dec
Current assets
10,512.5
11,693.9
13,517.6
9,003.3
10,012.8
9,726.2
27.2%
29.6%
32.1%
20.6%
22.4%
22.2%
Cash and cash equivalents
2,339.6
3,450.5
5,111.5
780.6
1,530.4
1,512.0
6.0%
8.7%
12.2%
1.8%
3.4%
3.5%
Other current financial assets
64.5
153.7
275.5
57.1
81.0
32.0
0.2%
0.4%
0.7%
0.1%
0.2%
0.1%
Trade and other current receivables
3,616.1
3,467.8
3,439.9
3,487.6
3,689.8
3,508.9
9.3%
8.8%
8.2%
8.0%
8.2%
8.0%
Inventories
2,937.2
3,033.1
3,134.9
3,341.8
3,443.1
3,537.1
7.6%
7.7%
7.5%
7.6%
7.7%
8.1%
Contract assets
42.4
71.6
68.5
156.1
84.7
92.5
0.1%
0.2%
0.2%
0.4%
0.2%
0.2%
Other current non-financial assets
1,083.9
1,212.8
1,162.5
591.1
552.9
585.4
2.8%
3.1%
2.8%
1.3%
1.2%
1.3%
Income tax receivables
428.9
304.5
324.7
589.1
630.9
458.2
1.1%
0.8%
0.8%
1.3%
1.4%
1.0%
Assets held for sale
0.0
0.0
0.0
0.0
0.0
0.0
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Non-current assets
28,204.4
27,874.0
28,549.9
34,807.7
34,730.4
34,095.5
72.8%
70.4%
67.9%
79.4%
77.6%
77.8%
Goodwill
13,966.1
13,840.8
14,309.4
17,141.4
17,375.9
17,118.0
36.1%
35.0%
34.0%
39.1%
38.8%
39.1%
Intangible assets other than goodwill
7,051.6
6,769.8
6,730.4
9,174.6
9,089.3
8,664.1
18.2%
17.1%
16.0%
20.9%
20.3%
19.8%
Property, plant and equipment
5,290.8
5,250.7
5,376.3
6,213.3
6,110.4
6,067.3
13.7%
13.3%
12.8%
14.2%
13.7%
13.8%
Investments at equity
0.0
0.0
0.0
0.0
0.0
0.0
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Other non-current financial assets
595.1
656.7
641.1
738.3
692.0
673.5
1.5%
1.7%
1.5%
1.7%
1.5%
1.5%
Other non-current receivables
14.1
13.3
14.3
22.3
21.4
20.6
0.0%
0.0%
0.0%
0.1%
0.0%
0.0%
Other non-current non-financial assets
81.4
87.8
89.4
96.6
93.7
90.1
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
Deferred tax assets
1,205.3
1,254.9
1,389.0
1,421.2
1,347.6
1,461.9
3.1%
3.2%
3.3%
3.2%
3.0%
3.3%
Total assets
38,716.8
39,567.9
42,067.4
43,811.0
44,743.2
43,821.7
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Current liabilities
11,194.4
10,494.3
9,655.1
11,841.6
10,764.3
10,079.8
28.9%
26.5%
23.0%
27.0%
24.1%
23.0%
Current financial debt
4,442.8
4,932.9
3,930.3
4,550.4
3,716.7
4,008.9
11.5%
12.5%
9.3%
10.4%
8.3%
9.1%
Trade and other current payables
1,632.8
1,737.0
1,736.3
2,053.8
1,807.4
1,763.7
4.2%
4.4%
4.1%
4.7%
4.0%
4.0%
Refund liabilities
541.3
564.8
587.4
564.6
626.1
596.8
1.4%
1.4%
1.4%
1.3%
1.4%
1.4%
Other current financial liabilities
1,384.6
543.2
629.9
1,126.5
1,021.4
408.5
3.6%
1.4%
1.5%
2.6%
2.3%
0.9%
Other current non-financial liabilities
1,322.9
1,064.8
1,099.5
1,211.2
1,225.5
1,121.8
3.4%
2.7%
2.6%
2.8%
2.7%
2.6%
Income tax liabilities
1,279.4
1,106.7
1,126.4
1,401.9
1,463.0
1,319.3
3.3%
2.8%
2.7%
3.2%
3.3%
3.0%
Current provisions
494.3
482.8
451.8
823.3
822.0
781.0
1.3%
1.2%
1.1%
1.9%
1.8%
1.8%
Current employee benefit provisions
96.2
62.1
93.4
109.9
82.1
79.8
0.2%
0.2%
0.2%
0.3%
0.2%
0.2%
Liabilities included in disposal groups classified as held for sale
0.0
0.0
0.0
0.0
0.0
0.0
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Non-current liabilities
9,846.7
11,499.4
14,230.1
14,055.6
15,378.6
15,716.0
25.4%
29.1%
33.8%
32.1%
34.4%
35.9%
Non-current financial debt
5,047.2
6,497.2
8,614.2
8,643.8
10,136.6
10,080.8
13.0%
16.4%
20.5%
19.7%
22.7%
23.0%
Other non-current financial liabilities
36.5
34.2
32.8
43.4
44.1
53.8
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
Other non-current non-financial liabilities
225.7
225.6
225.4
93.2
90.1
89.0
0.6%
0.6%
0.5%
0.2%
0.2%
0.2%
Non-current provisions
630.1
632.4
656.4
253.7
252.3
254.6
1.6%
1.6%
1.6%
0.6%
0.6%
0.6%
Non-current employee benefit provisions
2,688.8
2,947.4
3,518.1
3,193.5
3,060.5
3,524.6
6.9%
7.4%
8.4%
7.3%
6.8%
8.0%
Deferred tax liabilities
1,218.3
1,162.5
1,183.2
1,828.0
1,795.1
1,713.2
3.1%
2.9%
2.8%
4.2%
4.0%
3.9%
Net equity
17,675.8
17,574.3
18,182.3
17,913.8
18,600.2
18,025.9
45.7%
44.4%
43.2%
40.9%
41.6%
41.1%
Equity capital
565.2
565.2
565.2
565.2
565.2
565.2
1.5%
1.4%
1.3%
1.3%
1.3%
1.3%
Capital reserves
3,813.7
3,813.7
3,813.7
3,813.7
3,813.7
3,813.7
9.9%
9.6%
9.1%
8.7%
8.5%
8.7%
Retained earnings
11,294.2
11,410.2
12,018.5
11,507.0
11,977.5
11,753.2
29.2%
28.8%
28.6%
26.3%
26.8%
26.8%
Gain/losses recognized immediately in equity
1,967.3
1,761.0
1,761.0
1,979.6
2,199.9
1,850.0
5.1%
4.5%
4.2%
4.5%
4.9%
4.2%
Non-controlling interest
35.4
24.1
23.8
48.3
43.9
43.8
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
Total liabilities and stockholders' equity
38,716.8
39,567.9
42,067.4
43,811.0
44,743.2
43,821.7
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
2018
2019
Shares of Totals
2011
Shares of Totals
2012
31-Mar
30-Jun
30-Sep
31. Dez
31-Mar
30-Jun
30-Sep
31-Dec
31-Mar
30-Jun
30-Sep
31. Dez
31-Mar
30-Jun
30-Sep
31-Dec
Financial debt
9,490.0
11,430.1
12,544.5
13,194.2
13,853.3
14,089.7
24.5%
28.9%
29.8%
30.1%
31.0%
32.2%
Net financial debt
7,089.4
7,829.4
7,320.0
12,363.2
12,284.6
12,560.2
18.3%
19.8%
17.4%
28.2%
27.5%
28.7%
Financial result
Income Statement Merck KGaA, Darmstadt, Germany
Group
2019
2020
Change YoY
€ million
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Q1
Q2
H1
Q3
9M
Q4
H2
FY
Financial result
-112.6
-61.1
-173.7
-134.9
-308.5
-76.1
-210.9
-384.6
-98.5
-102.3
-200.7
-12.5%
67.4%
15.6%
Interest result
-57.6
-55.5
-113.0
-85.4
-198.5
-93.8
-179.2
-292.3
-80.0
-72.8
-152.8
39.0%
31.3%
35.2%
Interest income
6.7
22.0
28.6
6.9
35.6
30.1
37.1
65.7
5.6
10.9
16.5
-15.2%
-50.4%
-42.2%
Interest expenses
-64.2
-77.5
-141.7
-92.4
-234.1
-123.9
-216.3
-358.0
-85.7
-83.7
-169.4
33.4%
8.1%
19.6%
Result from financial investments
-0.4
-0.5
-0.9
0.2
-0.6
0.5
0.7
-0.1
-0.1
-0.8
-0.9
-66.8%
68.0%
9.4%
Currency difference - financing
-37.7
2.3
-35.4
3.1
-32.3
-0.7
2.5
-33.0
-6.0
5.2
-0.8
-84.0%
129.8%
-97.8%
Interest quota - pensions and other provisions
-17.0
-6.8
-23.8
-52.8
-76.6
18.0
-34.8
-58.6
-12.3
-33.8
-46.2
-27.5%
397.3%
94.1%
Others
0.0
-0.6
-0.6
0.0
-0.6
-0.0
-0.0
-0.6
0.0
0.0
0.0
n.m.
-100.0%
-100.0%
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Disclaimer
Merck KGaA published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 22:02:07 UTC
Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
More charts
Merck KGaA is one of the world's leading pharmaceutical and chemical groups. Net sales break down by family of products as follows:
- solutions and products for scientific and biotechnological research (44.2%);
- pharmaceutical products (38.4%): prescription drugs for the treatment of diabetes, cancer, multiple sclerosis, infertility, cardiovascular disease, central nervous system disorders, inflammatory disorders, etc.;
- performance materials for the electronics industry (17.4%): semiconductor materials, liquid crystals, pigments and additives, carbon-based organic materials, etc.
Net sales are distributed geographically as follows: Germany (4.8%), Europe (24%), China (12.9%), Asia/Pacific (20.1%), the United States (26.8%), North America (1.6%), Latin America (6.3%), Middle East and Africa (3.5%).
More about the company
Last Close Price
151.8
EUR
Average target price
182
EUR
Spread / Average Target
+19.93%
Consensus
1st Jan change
Capi.
+4.06% 70.44B +10.97% 8.94B -14.44% 4.75B +41.60% 4.5B +5.96% 3.85B +23.46% 2.38B -19.32% 2.34B -27.04% 2.2B +7.97% 1.96B -0.50% 1.64B
Specialty & Advanced Pharmaceuticals
+951% of historical performance
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