Merck 2014 Annual Report Download - page 236

231CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
Consumer Health
€ million 2013 reported
Product group
transfer adjustments Disclosure change12013 adjusted
Sales 476.9 265.2 – 742.1
Royalty, license and commission income 2.7 0.2 – 2.9
Total revenues 479.6 265.4 – 745.0
Cost of sales1–161.3 – 81.7 – – 243.0
(of which: amortization of intangible assets)1(–) (–) (–) (–)
Gross profit1318.3 183.7 – 502.0
Marketing and selling expenses1– 213.0 – 71.8 – 2.4 – 287.2
(of which: amortization of intangible assets)1(–) (–) (– 2.4) (– 2.4)
Royalty, license and commission expenses – 2.0 – 0.4 – – 2.4
Administration expenses –18.1 – 8.8 – – 26.9
Research and development costs1–17.1 – 4.7 – – 21.8
(of which: amortization of intangible assets)1(–) (–) (–) (–)
Other operating expenses and income – 3.5 2.0 – –1.5
Operating result (EBIT) 62.2 99.9 – 162.1
Depreciation and amortization 8.6 – – 8.6
Impairment losses 0.3 – – 0.3
Reversals of impairment losses – – – –
EBITDA 71.1 99.9 – 171.0
One-time items 1.4 – – 1.4
EBITDA pre one-time items (Segment result) 72.5 99.9 – 172.4
EBITDA margin pre one-time items (% of sales) 15.2 8.0 – 23.2
Net operating assets 258.2 156.1 – 414.3
Segment liabilities – 74.5 – – – 74.5
Investments in property, plant and equipment23.7 – – 3.7
Investments in intangible assets20.4 – – 0.4
Net cash flows from operating activities 67.1 79.1 – 146.2
Business free cash flow 83.9 88.6 – 172.5
1 The disclosure of amortization of intangible assets (excluding software) has been changed. See Note “Accounting and measurement principles”.
2 According to the consolidated cash flow statement.