Merck 2008 Annual Report Download - page 79

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Segment Reporting
Notes to the Segment Reporting: see page 123
€ million Merck Serono
Consumer
Health Care Pharmaceuticals Liquid Crystals
Performance &
Life Science Chemicals
2008 2007 2008 2007 2008 2007 2008 2007 2008 2007
Sales 4,649.6 4,187.0 439.9 418.2 5,089.5 4,605.2 864.6 909.4 1,240.9 1,231.3
Royalty income 337.2 270.7 1.8 1.5 339.0 272.2 12.3 6.3 5.1 3.5
Total revenues 4,986.8 4,457.7 441.7 419.7 5,428.5 4,877.4 876.9 915.7 1,246.0 1,234.8
Gross margin 4,191.3 3,764.7 293.7 283.7 4,485.0 4,048.4 540.6 611.3 629.1 615.1
Selling. general
and administration –1,958.9 –1,980.9 –213.4 –210.0 –2,172.3 –2,190.9 –61.4 –42.5 –401.4 –409.9
Research and
development –1,074.4 –878.6 –16.8 –12.0 –1,091.2 –890.6 –84.8 –78.8 –58.4–58.3
Operating result 593.7 356.9 61.3 59.6 655.0 416.5 391.2 486.6 166.5 144.4
Exceptional items –354.0 –743.6 – – –354.0 –743.6 – – –46.0 –
Earnings before
interest and tax (EBIT) 239.7 –386.7 61.3 59.6 301.0 –327.1 391.2 486.6 120.5 144.4
Net operating
assets 10,355.9 9,884.8 325.9 281.0 10,681.8 10,165.8 944.3 915.1 1,127.71,053.0
Segment
liabilities –972.1 –799.0 –62.6 –54.5 –1,034.7 –853.5 –98.2 –90.0 –173.6 –176.9
Capital spending
on property. plant
and equipment 235.4 147.6 14.1 6.1 249.5 153.7 64.5 48.6 78.9 57.9
Investments in
intangible assets 123.2 91.7 2.4 0.8 125.6 92.5 2.0 1.5 3.4 7.5
Net cash flows
from operating
activities 926.8 875.9 45.6 50.9 972.4 926.8 472.7 474.0 146.5 181.1
Net cash flows
from investing
activities –373.1 –7,381.0 –40.0 –4.0 –413.1 –7,385.0 –70.6 –49.2 –88.8 –49.3
Free cash flow * 553.8 –6,505.1 5.6 46.9 559.4 –6,458.2 402.1 424.8 57.7 131.8
Impairment losses –338.8 –100.2 – – –338.8 –100.2 –0.6 –0.2 –6.1 –8.9
€ million
Germany France Switzerland Rest of Europe
2008 2007 2008 2007 2008 2007 2008 2007
Sales by customer location 722.2 711.2 779.0 737.8 77.9 75.7 1,944.4 1,797.2
Sales by company 1,093.1 1,050.5 885.5 847.9 197.9 184.3 1,643.8 1,495.9
Total revenues 1,109.6 1,061.7 892.0 854.5 441.4 382.0 1,644.5 1,496.0
Intragroup sales with other regions 1,604.0 1,444.5 129.9 115.5 2,038.6 1,875.6 932.7 820.6
Operating result 382.4 483.5 262.3 174.2 –966.5 –1,002.8 615.6 551.6
Exceptional items –16.1 –32.0 –11.9 1.9 –244.1 –734.0 –26.8 –11.5
Earnings before interest and tax (EBIT) 239.5 451.5 250.5 176.1 –1,210.6 –1,736.8 588.8 540.1
Net operating assets 1,870.1 2,027.6 458.5 559.0 8,049.5 6,939.9 984.0 975.0
Capital spending on property,
plant and equipment 160.4 128.9 12.4 13.9 118.5 43.9 40.1 25.8
Investments in intangible assets 73.2 36.0 2.1 – 34.0 43.6 3.2 5.8
Research and development –571.1 –445.6 –55.0 –92.3 –558.7 –476.2 –31.6 –24.2
Number of employees 10,301 10,142 2,364 2,415 2,090 1,812 4,351 4,561
* including Discontinued operations
74 | Merck Annual Report 2008