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
- Group, quarterly
- Healthcare, quarterly
- Life Science, quarterly
- Performance Materials, quarterly
- Corporate/Others, quarterly
2 Cash flow statement
3 Balance sheet
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 | 472.1 | 374.0 | 846.2 | 42.2% | ‐29.1% | ‐1.6% | ||||||||||||
1 921.7 | |||||||||||||||||||||||||
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% | 7.2% | 6.7% | 6.9% | |||||||||||
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 | ||||||||||||||
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% | 48.3% | 25.2% | 36.8% | |||||||||||
Performance Materials | 192.6 | 190.3 | 382.9 | 177.5 | 560.4 | 243.0 | 420.5 | 803.4 | 285.5 | 238.3 | 523.8 | ||||||||||||||
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% | 15.5% | ‐4.5% | 5.5% | |||||||||||
Corporate/Others | -111.8 | -112.1 | -223.9 | -98.1 | -322.0 | -147.2 | -245.3 | -469.2 | -129.1 | -107.2 | -236.2 | ||||||||||||||
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.
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 | ||||
16.7% | 3.7% | 10.0% | ||||||||||||||||||||||||||
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 | ||||||||||||||
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% | ‐2.5% | 11.3% | 4.2% | ||||||||||||||
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 | |||||||||||||||||
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% | ‐2.9% | ‐10.5% | ‐6.9% | ||||||||||||||
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 | |||||||||||||||||
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% | 144.0% | 327.7% | 219.2% | ||||||||||||||
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 | |||||||||||||||||
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% | ‐9.0% | 22.2% | 6.3% | ||||||||||||||
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 | |||||||||||||||
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% | 27.2% | ‐5.7% | 9.1% | ||||||||||||||
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 | |||||||||||||||
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% | ‐12.5% | 67.4% | 15.6% | ||||||||||||||
Financial result | -112.6 | -61.1 | -173.7 | -134.9 | -308.5 | -76.1 | -210.9 | -384.6 | -98.5 | -102.3 | -200.7 | |||||||||||||||||
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% | 130.1% | ‐31.4% | 20.4% | ||||||||||||||
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 | ||||||||||||||||
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 (ne | 188.6 | 470.9 | 659.5 | 342.7 | 1 | 002.2 | 318.1 | 660.8 | 456.1 | 289.8 | 745.9 | 141.9% | ‐38.5% | 13.1% | ||||||||||||||
1 | 320.2 | |||||||||||||||||||||||||||
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 | 1.05 | 0.67 | 1.72 | 144.2% | ‐38.0% | 13.2% | |||||||||||||||
3.04 | ||||||||||||||||||||||||||||
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% | ||||||||||||||
32.7% | ‐15.6% | 4.9% | ||||||||||||||||||||||||||
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 | |||||||||||||||||
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 | 34.5% | ‐2.5% | 13.9% | |||||||||||||||||||||||||
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 | |||||||||||||||
Adjustments | 26.5% | ‐27.1% | 17.0% | |||||||||||||||||||||||||
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 | |||||||||||||||||
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
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 | 89.0% | ‐20.6% | 21.0% | ||||||||||||||||||||||
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 | ||||||||||||||
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 | >1.000% | n.m. | n.m. | ||||||||||||||||||||||
Acquisition costs | 0.2 | 0.2 | 0.4 | 0.1 | 0.4 | 83.4 | 83.4 | 83.8 | 19.0 | -29.5 | -10.5 | ||||||||||||||
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 | 27.2% | ‐5.7% | 9.1% | ||||||||||||||||||||||
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 | ||||||||||||||
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 | 131.9% | ‐30.2% | 22.2% | ||||||||||||||||||||||
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 | ||||||||||||||
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.
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 | 2.3% | 18.0% | 9.7% | ||||||||||||||||||||||||
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 | |||||||||||||||
Amortization of purchased intangible assets | ‐91.1% | ‐85.9% | ‐88.5% | ||||||||||||||||||||||||
Healthcare | HC | 113.3 | 113.4 | 226.7 | 113.2 | 339.8 | 112.9 | 226.0 | 452.7 | 10.1 | 16.0 | 26.1 | |||||||||||||||
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 | >1.000% | n.m. | n.m. | ||||||||||||||||||||||||
Acquisition costs | 0.2 | 0.2 | 0.4 | 0.1 | 0.4 | 83.4 | 83.4 | 83.8 | 19.0 | -29.5 | -10.5 | ||||||||||||||||
Restructuring costs | >1.000% | 166.0% | 199.5% | ||||||||||||||||||||||||
Healthcare | HC | 0.1 | 4.7 | 4.8 | 1.5 | 6.3 | 10.7 | 12.2 | 17.0 | 2.0 | 12.4 | 14.4 | |||||||||||||||
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 | >1.000% | 413.2% | 581.7% | ||||||||||||||||||||||||
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 | |||||||||||||||
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 | >1.000% | n.m. | n.m. | ||||||||||||||||||||||||
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 | |||||||||||||||
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 | 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% | ||||||||||||
Others | 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.
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 | |
14.9% | ‐10.6% | 1.3% | |||||||||||||||||||||||
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 | ||||||||||||||
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% | ‐27.8% | ‐3.1% | ‐16.9% | |||||||||||
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 | ||||||||||||||
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% | ‐23.1% | ‐31.8% | ‐27.6% | |||||||||||
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 | ||||||||||||||
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% | 407.2% | 769.7% | 528.1% | |||||||||||
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 | ||||||||||||||
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% | ‐60.8% | ‐49.4% | ‐55.5% | |||||||||||
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 | ||||||||||||||
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% | 42.2% | ‐29.1% | ‐1.6% | |||||||||||
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 | ||||||||||||||
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 | 52.3% | ‐31.3% | 1.0% | ||||||||||||||||||||||
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 | ||||||||||||||
Adjustments | n.m. | n.m. | n.m. | ||||||||||||||||||||||
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 | ||||||||||||||
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.
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 | 422.3 | 269.2 | 691.5 | 230.5% | ‐22.0% | 46.2% | ||||||||||||
1 149.5 | |||||||||||||||||||||||||
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 | n.m. | n.m. | n.m. | ||||||||||||||||||||||
Acquisition costs | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
Restructuring costs | >1.000% | 166.0% | 199.5% | ||||||||||||||||||||||
Restructuring costs | 0.1 | 4.7 | 4.8 | 1.5 | 6.3 | 10.7 | 12.2 | 17.0 | 2.0 | 12.4 | 14.4 | ||||||||||||||
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 | n.m. | n.m. | n.m. | ||||||||||||||||||||||
Integration Cost | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
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 | 43.5% | ‐64.8% | ‐65.8% | ||||||||||||||||||||||
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 | ||||||||||||||
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 | ‐100.0% | ‐100.0% | ‐100.0% | ||||||||||||||||||||||
Others | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | -0.1 | -0.1 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
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.
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 | |
6.5% | 5.9% | 6.2% | |||||||||||||||||||||||
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 | ||||||||||||||
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% | 6.5% | ‐3.2% | 1.6% | |||||||||||
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 | ||||||||||||||
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% | 6.0% | ‐0.3% | 2.7% | |||||||||||
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 | ||||||||||||||
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% | 135.8% | n.m. | 1.8% | |||||||||||
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 | ||||||||||||||
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% | 1.3% | 1.1% | 1.2% | |||||||||||
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 | ||||||||||||||
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% | 7.2% | 6.7% | 6.9% | |||||||||||
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 | ||||||||||||||
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 | 6.8% | 12.8% | 9.8% | ||||||||||||||||||||||
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 | ||||||||||||||
Adjustments | ‐65.8% | ‐90.9% | ‐76.1% | ||||||||||||||||||||||
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 | ||||||||||||||
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.
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 | 345.3 | 385.6 | 730.9 | 10.2% | 19.9% | 15.1% | ||||||||||||
1 280.4 | |||||||||||||||||||||||||
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 | ‐85.7% | n.m. | n.m. | ||||||||||||||||||||||
Acquisition costs | 0.2 | 0.2 | 0.4 | 0.1 | 0.4 | 1.6 | 1.7 | 2.0 | 0.0 | -30.0 | -30.0 | ||||||||||||||
Restructuring costs | 53.2% | ‐72.5% | ‐43.3% | ||||||||||||||||||||||
Restructuring costs | 1.1 | 3.8 | 4.9 | 6.1 | 11.0 | 1.5 | 7.6 | 12.5 | 1.7 | 1.0 | 2.8 | ||||||||||||||
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 | 44.9% | 53.7% | 50.4% | ||||||||||||||||||||||
Integration Cost | 0.6 | 1.0 | 1.5 | 0.8 | 2.3 | 0.2 | 1.0 | 2.5 | 0.8 | 1.5 | 2.3 | ||||||||||||||
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 | n.m. | ‐96.9% | ‐99.6% | ||||||||||||||||||||||
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 | ||||||||||||||
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 | ‐100.0% | ‐100.0% | ‐100.0% | ||||||||||||||||||||||
Others | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
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.
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 | |
49.0% | 38.1% | 43.7% | |||||||||||||||||||||||
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 | ||||||||||||||
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% | 99.0% | 180.6% | 141.6% | |||||||||||
SG&A | -99.3-108.1-207.4 | -121.8 | -329.2 | -233.3 | -355.1 | -562.6 | -197.6 | -303.4 | -501.0 | ||||||||||||||||
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% | 105.8% | 102.6% | 104.2% | |||||||||||
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 | ||||||||||||||
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% | ‐22.2% | 159.9% | 59.4% | |||||||||||
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 | ||||||||||||||
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% | 117.5% | 304.1% | 210.6% | |||||||||||
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 | ||||||||||||||
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% | 48.3% | 25.2% | 36.8% | |||||||||||
EBITDA pre | 192.6 | 190.3 | 382.9 | 177.5 | 560.4 | 243.0 | 420.5 | 803.4 | 285.5 | 238.3 | 523.8 | ||||||||||||||
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 | 59.7% | 35.9% | 47.6% | ||||||||||||||||||||||
EBITDA | 157.1 | 161.2 | 318.3 | 169.4 | 487.7 | 149.3 | 318.7 | 637.0 | 251.0 | 219.0 | 470.0 | ||||||||||||||
Adjustments | 29.6% | ‐16.7% | 22.0% | ||||||||||||||||||||||
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 | ||||||||||||||
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.
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 | 116.3 | -30.2 | 86.1 | 22.1% | n.m. | ‐55.8% | |||||||||||||
307.1 | ||||||||||||||||||||||||||
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 | n.m. | n.m. | n.m. | |||||||||||||||||||||||
Acquisition costs | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 81.8 | 81.8 | 81.8 | 19.0 | 0.5 | 19.4 | |||||||||||||||
Restructuring costs | ‐78.4% | ‐90.6% | ‐83.7% | |||||||||||||||||||||||
Restructuring costs | 34.1 | 26.3 | 60.5 | 0.9 | 61.3 | -0.4 | 0.4 | 60.9 | 7.4 | 2.5 | 9.9 | |||||||||||||||
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 | >1.000% | 724.0% | >1.000% | |||||||||||||||||||||||
Integration Cost | 0.0 | 1.3 | 1.3 | 3.3 | 4.6 | 7.5 | 10.8 | 12.1 | 7.1 | 10.7 | 17.8 | |||||||||||||||
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 | n.m. | n.m. | n.m. | |||||||||||||||||||||||
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 | |||||||||||||||
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 | ‐100.0% | ‐100.0% | ‐100.0% | |||||||||||||||||||||||
Others | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||||||||
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.
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 | |
n.m. | n.m. | n.m. | |||||||||||||||||||||||
Net sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
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 | 4.0% | ‐10.4% | ‐2.9% | ||||||||||||||||||||||
EBITDA | -140.2 | -128.1 | -268.3 | -111.5 | -379.8 | -157.0 | -268.5 | -536.8 | -145.8 | -114.8 | -260.6 | ||||||||||||||
Adjustments | n.m. | n.m. | n.m. | ||||||||||||||||||||||
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 | ||||||||||||||
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.
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 | -167.9-133.5-301.4 | 6.6% | ‐9.7% | ‐1.3% | ||||||||||||||||
-180.2-311.5 | -617.0 | ||||||||||||||||||||||||
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 | n.m. | n.m. | n.m. | ||||||||||||||||||||||
Acquisition costs | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||||||||
Restructuring costs | ‐83.4% | 20.9% | ‐68.5% | ||||||||||||||||||||||
Restructuring costs | 25.9 | 4.3 | 30.2 | 2.0 | 32.2 | -2.2 | -0.2 | 30.0 | 4.3 | 5.2 | 9.5 | ||||||||||||||
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 | ‐8.1% | 2.1% | ‐1.5% | |||||||||||
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 | ||||||||||||||
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 | >1.000% | n.m. | n.m. | ||||||||||||||||||||||
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 | ||||||||||||||
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 | n.m. | n.m. | ‐30.9% | ||||||||||||||||||||||
Others | -0.7 | 5.8 | 5.1 | 4.4 | 9.5 | 3.6 | 8.0 | 13.1 | 7.6 | -4.0 | 3.5 | ||||||||||||||
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 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-financialnon-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 | 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. | ||||||||||||
translation | ||||||||||||||||||||||||||
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 Merck KGaA, Darmstadt, Germany | |||||||||||||||||||||||
Group | 2019 | 2020 | Shares of Totals | Shares of Totals | |||||||||||||||||||
€ 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-currentnon-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-currentnon-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 | Shares of Totals | ||||||||||||||||||||
Financial debt | 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 | |||||||
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% |
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 provisi | -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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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 22:02:08 UTC