Merck : Financial Statement (XLS)

Merck KGaA, Darmstadt, Germany

Contact
Merck KGaA, Darmstadt, Germany
Investor Relations
Frankfurter Strasse 250
64293 Darmstadt
Germany
Phone: [phone]
e-mail: [e-mail]
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%