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87GROUP MANAGEMENT REPORT → REPORT ON ECONOMIC POSITION → Course of business and economic position
Dynamic business in the Emerging Markets region, which encom-
passes Latin America and Asia excluding Japan, fueled global
organic sales growth, accounting for around 80 % of the total
increase in organic sales of the Group. The growth rate in the
Emerging Markets region was 9.1 %, corresponding to an absolute
organic sales increase of € 347 million. In particular, the Bio-
pharmaceuticals division was the main driver of this development.
Taking
into consideration acquisition-related increases as well as
negative
foreign exchange effects,
the Group
increased its sales in
the Emerging
Markets region by a total of 12.0 % to €4,250 mil-
lion (2013: €3,796 million). In 2014, the region thus increased
its
contribution to Group sales by two percentage points to 38 %.
Sales in Europe only increased slightly by 0.8 % to € 4,015
million (2013: €3,985 million). This increase was mainly attribut-
able to the acquisition of AZ. Europe’s contribution to Group sales
thus fell to 35 % (2013: 37 %).
Sales in North America amounted to €2,152 million (2013:
€2,078 million) and thus increased by 3.6 % or €74 million in
comparison with the previous year. With a slight organic sales
increase of 1.7 % and coupled with negative exchange rate effects
of 1.8 %, North America’s contribution to Group sales was 19 %, as
in 2013.
The Rest of World region, i.e. Japan, Africa and Australia /
Oceania, generated €875 million (2013: €842 million) or 8 % of
Group sales, as in the previous year. Organic and acquisition-
related growth was dampened by negative foreign exchange effects
(– 6.9 %), which were mainly attributable to the Japanese yen.
Overall, sales increased by 3.9 % in this region in 2014.
GROUP →
SALES COMPONENTS BY REGION – 2014
€ million / change in % Sales Organic growth
Exchange rate
effects
Acquisitions /
divestments Total change
Europe 4,014.6 0.2 – 0.1 0.7 0.8
North America 2,152.2 1.7 0.1 1.8 3.6
Emerging Markets 4,250.2 9.1 – 3.5 6.4 12.0
Rest of World 874.5 5.0 – 6.9 5.8 3.9
Group 11,291.5 4.0 – 1.8 3.3 5.5