Merck 2010 Annual Report Download - page 26

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EUR million / % of operating result
1 Merck Serono 565 98%
2 Consumer Health Care 14 2%
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The Chemicals business sector, comprising the two divisions Merck Millipore and Performance
Materials, markedly increased total revenues by 58% to EUR 3,065 million. Both divisions
performed very well, with total revenues increasing by 81% for Merck Millipore and by 38%
for Performance Materials. However, for the Merck Millipore division, it should be noted that
the Millipore companies have only been consolidated since July 2010 and were therefore only
included in the financial statements for half a year. Organically, meaning adjusted for acquisition
and currency effects, total revenues of the Chemicals business sector increased by 17%.
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EUR million / % of total revenues
1 Merck Millipore 1,681 55%
2 Performance Materials 1,384 45%
The operating result of the Chemicals business sector increased by 92% to EUR 624 million,
despite expenses such as the costs of the Millipore integration (EUR 87 million), the one-time
inventory step-up within the scope of the Millipore purchase price allocation (EUR 86 million)
as well as the amortization of intangible assets (EUR 96 million). Due to the aforementioned
one-time expenses in 2010, the operating result of the Merck Millipore division declined by
59%. The significant rise of 166% in the operating result of the Performance Materials division
was derived from the Liquid Crystals and Pigments business units.
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Liquid crystals and Pigments
post excellent results
Merck Annual Report 2010 22