Merck 2014 Annual Report Download - page 102
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97GROUP MANAGEMENT REPORT → REPORT ON ECONOMIC POSITION → Biopharmaceuticals
1 Quarterly breakdown unaudited.
2 Previous year’s figures have been adjusted, see “The Group" in the Group management report.
2014
2013
4.2
1,375
1,389
Q1 →
Q2 →
Q3 →
Q4 →
1,446
1,468
3.0
1,465
1,413
4.5
1,497
1,419
2.8
%
BIOPHARMACEUTICALS →
SALES AND ORGANIC GROWTH BY QUARTER1, 2
€ million / organic growth in %
BIOPHARMACEUTICALS
BIOPHARMACEUTICALS →
KEY FIGURES
€million 2014 20131
Change
in %
Total revenues 5,975.0 6,060.4 –1.4
Sales 5,783.3 5,688.4 1.7
Operating result (EBIT) 956.5 793.1 20.6
Margin ( % of sales) 16.5 13.9
EBITDA 1,786.0 1,786.6 –
Margin ( % of sales) 30.9 31.4
EBITDA pre one-time items 1,830.9 1,855.1 –1.3
Margin ( % of sales) 31.7 32.6
Business free cash flow 1,577.2 1,787.1 –11.7
1 Previous year’s figures have been adjusted, see “The Group" in the Group management report.
Development of sales and results of operations
In 2014, the Biopharmaceuticals division generated organic sales
growth of 3.6 %. Taking negative foreign exchange effects of
–1.9 % into account, divisional sales rose overall by 1.7 % to
€5,783 million (2013: €5,688 million). All the division’s franchises
contributed to the organic sales growth, with the highest absolute
sales increase coming from the Fertility franchise. The Oncology
franchise also achieved good organic sales growth with the bio-
pharmaceutical Erbitux®. Used in the treatment of relapsing forms
of multiple sclerosis, Rebif® performed well despite increasing
competitive pressure. From a geographic perspective, as in previous
years, the Emerging Markets region was the division’s main
growth driver, particularly in the General Medicine franchise (in-
cluding CardioMetabolic Care).
The development of sales in the individual quarters in com-
parison with 2013 as well as the respective organic growth rates
are presented in the following overview: