Merck 2014 Annual Report Download - page 120

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115GROUP MANAGEMENT REPORT → REPORT ON ECONOMIC POSITION → Life Science
1 Quarterly breakdown unaudited.
2014
2013
Q1 →
Q2 →
Q3 →
Q4 →
657
669
3.7
659
666
4.0
661
639
4.5
706
654
5.9
%
LIFE SCIENCE →
SALES AND ORGANIC GROWTH BY QUARTER1
€ million / organic growth in %
LIFE SCIENCE
LIFE SCIENCE →
KEY FIGURES
€ million 2014 2013
Change
in %
Total revenues 2,696.5 2,645.3 1.9
Sales 2,682.5 2,627.5 2.1
Operating result (EBIT) 289.2 262.0 10.4
Margin (% of sales) 10.8 10.0
EBITDA 598.9 589.8 1.5
Margin (% of sales) 22.3 22.4
EBITDA pre one-time items 658.6 642.8 2.5
Margin (% of sales) 24.6 24.5
Business free cash flow 419.0 493.8 –15.2
Development of sales and results of operations
In 2014, the Life Science division posted solid organic sales growth
of 4.5 %, which was driven by Process Solutions. The organic
increase was countered by negative foreign exchange effects of
–1.7 %. In addition, the division’s sales declined by – 0.7 % in
comparison with 2013 owing to the divestment of the Discovery
and Development Solutions business field as of March31, 2014.
Including these effects, sales rose overall by 2.1 % to €2,682 mil-
lion (2013: €2,628 million). The development of sales in the indi-
vidual quarters in comparison with 2013 as well as the respective
organic growth rates are presented in the following overview: