Merck 2014 Annual Report Download - page 229

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224 CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
SEGMENT REPORTING
(51) INFORMATION BY DIVISION/COUNTRY
AND REGION
INFORMATION BY DIVISION
Biopharmaceuticals1Consumer Health1
€ million 2014 2013 2014 2013
Sales 5,783.3 5,688.4 766.1 742.1
Royalty, license and commission income 191.7 372.0 2.7 2.9
Total revenues 5,975.0 6,060.4 768.8 745.0
Cost of sales2–1,119.7 –1,024.4 – 250.7 – 243.0
(of which: amortization of intangible assets)2(–) (–) (–) (–)
Gross profit24,855.3 5,036.0 518.1 502.0
Marketing and selling expenses2–1,780.2 –1,813.6 – 303.1 – 287.2
(of which: amortization of intangible assets)2(– 552.8) (– 596.7) (– 2.7) (– 2.4)
Royalty, license and commission expenses – 518.3 – 547.3 – 2.6 – 2.4
Administration expenses – 219.7 – 202.5 – 27.2 – 26.9
Research and development costs2–1,343.7 –1,178.1 – 22.3 – 21.8
(of which: amortization of intangible assets)2(– 1.0) (–) (–) (–)
Other operating expenses and income – 36.9 – 501.4 –13.0 –1.5
Operating result (EBIT) 956.5 793.1 149.9 162.1
Depreciation and amortization 739.2 797.4 10.0 8.6
Impairment losses 90.3 196.4 0.5 0.3
Reversals of impairment losses – – 0.3 – –
EBITDA 1,786.0 1,786.6 160.4 171.0
One-time items 44.9 68.5 9.0 1.4
EBITDA pre one-time items (segment result) 1,830.9 1,855.1 169.4 172.4
EBITDA margin pre one-time items (in % of sales) 31.7 32.6 22.1 23.2
Net operating assets 5,623.6 6,811.9 417.4 414.3
Segment liabilities – 2,394.4 –1,358.0 –113.5 – 74.5
Investments in property, plant and equipment3215.0 151.3 10.2 3.7
Investments in intangible assets3111.5 80.6 2.6 0.4
Net cash flows from operating activities 2,120.3 1,739.8 167.0 146.2
Business free cash flow 1,577.2 1,787.1 124.0 172.5
1 Previous year’s figures have been adjusted, see Note “Information on Segment Reporting”.
2 The disclosure of amortization of intangible assets (excluding software) has been changed. See Note “Accounting and measurement principles”.
3 According to the consolidated cash flow statement.