Merck : Q1 24 Financial Statement

Merck KGaA, Darmstadt, Germany

Contact
Merck KGaA, Darmstadt, Germany
Investor Relations
Frankfurter Strasse 250
64293 Darmstadt
Germany
Phone: [phone]
e-mail: [e-mail]
www.merckgroup.com
WKN:	659990
ISIN:	DE0006599905
Ticker Symbol:	MRK
Financial Statements Q1 2023 - Q1 2024
Content
1 Income statements
1.1	Group, quarterly
1.2	Life Science, quarterly
1.3	Healthcare, quarterly
1.4	Electronics, quarterly
1.5	Corporate/Others, quarterly
1.6	Financial result, quarterly
2 Cash flow statement
3 Balance sheet

Summary

Net sales/Net sales growth by business sector Merck KGaA, Darmstadt, Germany
2023	2024	2023	2024
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Group	5,293.0	5,302.4	10,595.3	5,173.1	15,768.4	5,224.5	10,397.6	20,992.9	5,119.8	Group
YoY ∆	95.2	-266.0	-170.8	-632.7	-803.5	-435.9	-1,068.5	-1,239.3	-173.2	YoY %	1.8%	-4.8%	-1.6%	-10.9%	-4.8%	-7.7%	-9.3%	-5.6%	-3.3%
Acquisitions ∆	9.4	3.2	12.6	3.1	15.6	3.4	6.4	19.0	-0.6	Acquisitions %	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%
Fx ∆	43.5	-207.4	-163.9	-395.5	-559.4	-342.4	-737.9	-901.8	-108.3	Fx %	0.8%	-3.7%	-1.5%	-6.8%	-3.4%	-6.0%	-6.4%	-4.1%	-2.0%
Organic ∆	42.3	-61.8	-19.5	-240.2	-259.7	-96.9	-337.1	-356.6	-64.3	Organic %	0.8%	-1.1%	-0.2%	-4.1%	-1.6%	-1.7%	-2.9%	-1.6%	-1.2%
Life Science	2,486.8	2,353.5	4,840.3	2,190.9	7,031.2	2,249.4	4,440.2	9,280.5	2,143.7	Life Science
YoY ∆	41.4	-294.2	-252.9	-489.9	-742.7	-357.1	-846.9	-1,099.8	-343.1	YoY %	1.7%	-11.1%	-5.0%	-18.3%	-9.6%	-13.7%	-16.0%	-10.6%	-13.8%
Acquisitions ∆	6.3	-0.2	6.0	0.1	6.2	0.1	0.2	6.3	0.0	Acquisitions %	0.3%	0.0%	0.1%	0.0%	0.1%	0.0%	0.0%	0.1%	0.0%
Fx ∆	20.9	-64.6	-43.7	-135.7	-179.4	-105.3	-240.9	-284.6	-30.4	Fx %	0.9%	-2.4%	-0.9%	-5.1%	-2.3%	-4.0%	-4.6%	-2.7%	-1.2%
Organic ∆	14.2	-229.4	-215.2	-354.3	-569.6	-251.9	-606.2	-821.5	-312.7	Organic %	0.6%	-8.7%	-4.2%	-13.2%	-7.3%	-9.7%	-11.5%	-7.9%	-12.6%
Healthcare	1,905.5	2,049.5	3,955.0	2,066.3	6,021.3	2,031.9	4,098.2	8,053.2	2,047.7	Healthcare
YoY ∆	110.5	125.3	235.9	-23.0	212.8	1.6	-21.4	214.5	142.2	YoY %	6.2%	6.5%	6.3%	-1.1%	3.7%	0.1%	-0.5%	2.7%	7.5%
Acquisitions ∆	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	Acquisitions %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Fx ∆	14.8	-104.6	-89.8	-178.1	-267.9	-185.7	-363.8	-453.6	-49.3	Fx %	0.8%	-5.4%	-2.4%	-8.5%	-4.6%	-9.1%	-8.8%	-5.8%	-2.6%
Organic ∆	95.7	229.9	325.7	155.1	480.8	187.3	342.4	668.1	191.5	Organic %	5.3%	11.9%	8.8%	7.4%	8.3%	9.2%	8.3%	8.5%	10.1%
Electronics	900.7	899.3	1,800.0	915.9	2,715.9	943.2	1,859.1	3,659.2	928.4	Electronics
YoY ∆	-56.7	-97.1	-153.8	-119.8	-273.6	-80.4	-200.2	-354.0	27.7	YoY %	-5.9%	-9.7%	-7.9%	-11.6%	-9.2%	-7.9%	-9.7%	-8.8%	3.1%
Acquisitions ∆	3.1	3.4	6.5	2.9	9.5	3.3	6.2	12.8	-0.6	Acquisitions %	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	-0.1%
Fx ∆	7.7	-38.2	-30.4	-81.7	-112.1	-51.4	-133.2	-163.6	-28.6	Fx %	0.8%	-3.8%	-1.6%	-7.9%	-3.8%	-5.0%	-6.5%	-4.1%	-3.2%
Organic ∆	-67.6	-62.3	-129.9	-41.0	-170.9	-32.3	-73.3	-203.2	56.8	Organic %	-7.1%	-6.3%	-6.7%	-4.0%	-5.7%	-3.2%	-3.6%	-5.1%	6.3%
EBITDA pre by business sector Merck KGaA, Darmstadt, Germany
2023	2024	2023	2024
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Group	1,587.0	1,553.3	3,140.3	1,445.6	4,585.9	1,293.0	2,738.7	5,878.9	1,453.9	Group
% Margin	30.0%	29.3%	29.6%	27.9%	29.1%	24.7%	26.3%	28.0%	28.4%
YoY ∆	-41.8	-228.7	-270.5	-364.8	-635.3	-334.9	-699.7	-970.2	-133.1	YoY %	-2.6%	-12.8%	-7.9%	-20.2%	-12.2%	-20.6%	-20.3%	-14.2%	-8.4%
Acquisitions ∆	-6.1	-3.0	-9.1	-5.7	-14.9	-5.0	-10.7	-19.9	0.0	Acquisitions %	-0.4%	-0.2%	-0.3%	-0.3%	-0.3%	-0.3%	-0.3%	-0.3%	0.0%
Fx ∆	-7.7	-101.2	-108.9	-120.1	-229.0	-106.4	-226.5	-335.4	-50.7	Fx %	-0.5%	-5.7%	-3.2%	-6.6%	-4.4%	-6.5%	-6.6%	-4.9%	-3.2%
Organic ∆	-27.9	-124.6	-152.5	-239.0	-391.5	-223.5	-462.5	-615.0	-82.4	Organic %	-1.7%	-7.0%	-4.5%	-13.2%	-7.5%	-13.7%	-13.5%	-9.0%	-5.2%
Life Science	900.6	711.9	1,612.5	615.1	2,227.6	592.0	1,207.1	2,819.6	611.2	Life Science
% Margin	36.2%	30.2%	33.3%	28.1%	31.7%	26.3%	27.2%	30.4%	28.5%
YoY ∆	-26.5	-293.8	-320.3	-361.3	-681.6	-258.3	-619.6	-939.9	-289.4	YoY %	-2.9%	-29.2%	-16.6%	-37.0%	-23.4%	-30.4%	-33.9%	-25.0%	-32.1%
Acquisitions ∆	-4.3	1.6	-2.7	-7.0	-9.8	-1.4	-8.5	-11.2	0.0	Acquisitions %	-0.5%	0.2%	-0.1%	-0.7%	-0.3%	-0.2%	-0.5%	-0.3%	0.0%
Fx ∆	-9.4	-32.8	-42.2	-46.6	-88.8	-35.6	-82.3	-124.4	-16.6	Fx %	-1.0%	-3.3%	-2.2%	-4.8%	-3.1%	-4.2%	-4.5%	-3.3%	-1.8%
Organic ∆	-12.8	-262.6	-275.4	-307.6	-583.0	-221.3	-528.9	-804.3	-272.8	Organic %	-1.4%	-26.1%	-14.2%	-31.5%	-20.0%	-26.0%	-29.0%	-21.4%	-30.3%
Healthcare	589.6	703.6	1,293.2	685.4	1,978.5	564.5	1,249.9	2,543.1	708.0	Healthcare
% Margin	30.9%	34.3%	32.7%	33.2%	32.9%	27.8%	30.5%	31.6%	34.6%
YoY ∆	60.5	100.0	160.5	-25.5	135.0	-68.5	-94.0	66.5	118.4	YoY %	11.4%	16.6%	14.2%	-3.6%	7.3%	-10.8%	-7.0%	2.7%	20.1%
Acquisitions ∆	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	Acquisitions %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Fx ∆	4.9	-83.8	-78.8	-148.0	-226.8	-129.0	-277.0	-355.8	-48.6	Fx %	0.9%	-13.9%	-7.0%	-20.8%	-12.3%	-20.4%	-20.6%	-14.4%	-8.2%
Organic ∆	55.6	183.8	239.3	122.5	361.8	60.5	183.0	422.3	167.0	Organic %	10.5%	30.4%	21.1%	17.2%	19.6%	9.6%	13.6%	17.1%	28.3%
Electronics	237.3	261.7	499.1	207.9	707.0	206.0	413.9	913.0	236.6	Electronics
% Margin	26.4%	29.1%	27.7%	22.7%	26.0%	21.8%	22.3%	25.0%	25.5%
YoY ∆	-52.0	-31.3	-83.3	-93.7	-177.1	-102.2	-195.9	-279.2	-0.7	YoY %	-18.0%	-10.7%	-14.3%	-31.1%	-20.0%	-33.1%	-32.1%	-23.4%	-0.3%
Acquisitions ∆	-1.3	-1.6	-2.9	-2.1	-5.0	-3.2	-5.4	-8.3	0.0	Acquisitions %	-0.4%	-0.5%	-0.5%	-0.7%	-0.6%	-1.1%	-0.9%	-0.7%	0.0%
Fx ∆	6.6	-14.5	-7.9	-37.9	-45.8	-20.9	-58.8	-66.7	-10.0	Fx %	2.3%	-4.9%	-1.4%	-12.6%	-5.2%	-6.8%	-9.6%	-5.6%	-4.2%
Organic ∆	-57.3	-15.3	-72.5	-53.6	-126.2	-78.0	-131.7	-204.2	9.3	Organic %	-19.8%	-5.2%	-12.5%	-17.8%	-14.3%	-25.3%	-21.6%	-17.1%	3.9%
Corporate/Others	-140.5	-123.9	-264.5	-62.7	-327.2	-69.5	-132.3	-396.7	-101.9	Corporate/Others
YoY ∆	-23.7	-3.6	-27.3	115.6	88.3	94.1	209.8	182.4	38.6	YoY %	20.3%	3.0%	11.5%	-64.8%	-21.3%	-57.5%	-61.3%	-31.5%	-27.5%
Due to rounding the sum of individual values may not add up to totals presented.

Group

Income Statement Merck KGaA, Darmstadt, Germany
Group	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Net sales	5,293.0	5,302.4	10,595.3	5,173.1	15,768.4	5,224.5	10,397.6	20,992.9	5,119.8	-3.3%
Cost of sales	-1,972.5	-2,138.9	-4,111.4	-2,161.8	-6,273.2	-2,327.3	-4,489.1	-8,600.5	-2,110.6	7.0%
thereof amortization of intangible assets	-48.2	-46.2	-94.3	-40.3	-134.7	-38.6	-78.9	-173.2	-38.2	-20.6%
Gross profit	3,320.4	3,163.5	6,483.9	3,011.3	9,495.2	2,897.2	5,908.5	12,392.4	3,009.2	-9.4%
in % of net sales	62.7%	59.7%	61.2%	58.2%	60.2%	55.5%	56.8%	59.0%	58.8%
SG&A	-1,688.2	-1,593.6	-3,281.8	-1,447.0	-4,728.8	-1,609.3	-3,056.3	-6,338.1	-1,497.3	-11.3%
in % of net sales	31.9%	30.1%	31.0%	28.0%	30.0%	30.8%	29.4%	30.2%	29.2%
Marketing and selling expenses	-1,109.1	-1,139.4	-2,248.5	-1,104.3	-3,352.9	-1,157.5	-2,261.8	-4,510.4	-1,087.1	-2.0%
thereof amortization of intangible assets (M&S)	-151.3	-148.9	-300.2	-146.7	-446.9	-149.3	-296.0	-596.2	-144.7	-4.3%
Administration expenses	-357.9	-345.0	-702.9	-312.0	-1,014.9	-377.4	-689.4	-1,392.3	-331.7	-7.3%
Impairment losses and reversals (IFRS 9)	-2.2	-9.7	-11.9	-28.3	-40.2	-10.3	-38.6	-50.5	1.0	n.m.
Other operating expenses/income	-219.0	-99.4	-318.4	-2.3	-320.8	-64.1	-66.5	-384.9	-79.5	-63.7%
Impairments**	-9.7	-36.9	-46.6	-3.8	-50.4	-36.9	-40.7	-87.2	-0.5	-95.1%
Research and development costs	-597.3	-600.4	-1,197.7	-581.1	-1,778.8	-666.5	-1,247.5	-2,445.2	-580.6	-2.8%
in % of net sales	11.3%	11.3%	11.3%	11.2%	11.3%	12.8%	12.0%	11.6%	11.3%
thereof amortization of intangible assets (R&D)	-4.4	-3.0	-7.4	-3.2	-10.6	-3.4	-6.5	-14.0	-3.3	-25.6%
EBIT	1,035.0	969.5	2,004.4	983.2	2,987.7	621.5	1,604.7	3,609.1	931.3	-10.0%
in % of net sales	19.6%	18.3%	18.9%	19.0%	18.9%	11.9%	15.4%	17.2%	18.2%
Depreciation and amortization	455.5	482.3	937.8	435.2	1,373.0	506.7	941.9	1,879.7	453.5	-0.4%
EBITDA	1,490.5	1,451.8	2,942.3	1,418.4	4,360.7	1,128.2	2,546.6	5,488.9	1,384.8	-7.1%
in % of net sales	28.2%	27.4%	27.8%	27.4%	27.7%	21.6%	24.5%	26.1%	27.0%
EBITDA pre	1,587.0	1,553.3	3,140.3	1,445.6	4,585.9	1,293.0	2,738.7	5,878.9	1,453.9	-8.4%
in % of net sales	30.0%	29.3%	29.6%	27.9%	29.1%	24.7%	26.3%	28.0%	28.4%
Financial result	-22.7	-75.7	-98.4	-46.0	-144.3	19.1	-26.8	-125.2	-32.2	42.1%
Profit before income tax from continuing operations	1,012.3	893.8	1,906.1	937.3	2,843.3	640.6	1,577.9	3,483.9	899.1	-11.2%
Income tax	-212.6	-187.7	-400.3	-196.8	-597.1	-53.0	-249.8	-650.1	-199.6	-6.1%
Income tax rate	21.0%	21.0%	21.0%	21.0%	21.0%	8.3%	15.8%	18.7%	22.2%
Profit after tax from continuing operations	799.7	706.1	1,505.8	740.4	2,246.2	587.6	1,328.0	2,833.8	699.5	-12.5%
Profit after tax from discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Profit after tax	799.7	706.1	1,505.8	740.4	2,246.2	587.6	1,328.0	2,833.8	699.5	-12.5%
of which: attributable to Merck KGaA shareholders (net income)	796.2	703.6	1,499.8	738.7	2,238.4	585.3	1,323.9	2,823.7	694.2	-12.8%
of which: attributable to non-controlling interests	3.5	2.5	6.0	1.8	7.8	2.3	4.1	10.1	5.2	48.4%
EPS in €	1.83	1.62	3.45	1.70	5.15	1.35	3.05	6.49	1.60	-12.6%
thereof from continuing operations	1.83	1.62	3.45	1.70	5.15	1.35	3.05	6.49	1.60	-12.6%
thereof from discontinued operations	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	n.m.
EPS pre in €*	2.36	2.20	4.57	2.07	6.64	1.85	3.92	8.49	2.06	-12.7%
Number of theoretical shares in million	434.8	434.8	434.8	434.8	434.8	434.8	434.8	434.8	434.8
Reconciliation to EBITDA pre
EBITDA	1,490.5	1,451.8	2,942.3	1,418.4	4,360.7	1,128.2	2,546.6	5,488.9	1,384.8	-7.1%
Adjustments
thereof: Cost of Sales	2.7	4.6	7.2	10.4	17.6	24.9	35.3	42.6	4.1	53.8%
thereof: Marketing and selling expenses	-0.9	5.4	4.5	8.0	12.4	31.9	39.9	44.3	9.1	n.m.
thereof: Administration expenses	71.7	41.9	113.6	33.9	147.5	98.3	132.2	245.8	43.0	-40.0%
thereof: Other operating expenses/income	30.9	42.1	73.0	-25.5	47.5	2.9	-22.6	50.5	7.5	-75.7%
thereof: Research and development	-7.9	7.6	-0.3	0.5	0.1	6.8	7.2	6.9	5.4	n.m.
Total	96.5	101.5	198.0	27.2	225.2	164.9	192.1	390.1	69.1	-28.4%
EBITDA pre	1,587.0	1,553.3	3,140.3	1,445.6	4,585.9	1,293.0	2,738.7	5,878.9	1,453.9	-8.4%
Due to rounding the sum of individual values may not add up to totals presented.
* For continuing operations.
** Only reflects impairments classified as adjustments.

Group pre

Reconciliation to EBITDA, EBITDA pre and EPS pre
Group	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
a) Reconciliation to EBITDA and EBITDA pre
EBITDA
EBIT	1,035.0	969.5	2,004.4	983.2	2,987.7	621.5	1,604.7	3,609.1	931.3	-10.0%
Depreciation and amortization	455.5	482.3	937.8	435.2	1,373.0	506.7	941.9	1,879.7	453.5	-0.4%
Regular depreciation and amortization*	242.0	243.2	485.2	241.1	726.3	266.9	508.0	993.2	257.6	6.5%
Impairments not adjusted	0.0	4.2	4.2	0.0	4.2	11.8	11.8	16.0	9.2	>1.000%
Amortization of purchased intangible assets	203.8	198.1	401.9	190.3	592.2	191.2	381.5	783.3	186.2	-8.6%
Impairments (net)**	9.7	36.9	46.6	3.8	50.4	36.9	40.7	87.2	0.5	-95.1%
Total	1,490.5	1,451.8	2,942.3	1,418.4	4,360.7	1,128.2	2,546.6	5,488.9	1,384.8	-7.1%
Adjustments
Acquisition costs	9.2	4.8	14.0	3.7	17.7	0.8	4.4	18.5	2.5	-72.7%
Restructuring costs	44.3	39.3	83.6	24.6	108.2	140.3	164.9	248.5	44.6	0.7%
Integration costs/IT costs	23.5	27.1	50.6	28.8	79.4	39.0	67.8	118.4	17.4	-26.1%
Gain (-)/ losses (+) on the divestment of businesses	0.3	17.1	17.4	-48.8	-31.4	-20.1	-68.8	-51.4	-4.8	n.m.
Other one-time costs	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Total	96.5	101.5	198.0	27.2	225.2	164.9	192.1	390.1	69.1	-28.4%
EBITDA pre	1,587.0	1,553.3	3,140.3	1,445.6	4,585.9	1,293.0	2,738.7	5,878.9	1,453.9	-8.4%
b) Reconciliation to EPS pre
1) Reconciliation starting from EBITDA pre
EBITDA pre	1,587.0	1,553.3	3,140.3	1,445.6	4,585.9	1,293.0	2,738.7	5,878.9	1,453.9	-8.4%
Regular depreciation and amortization*	-242.0	-243.2	-485.2	-241.1	-726.3	-266.9	-508.0	-993.2	-257.6	6.5%
Impairments not adjusted	0.0	-4.2	-4.2	0.0	-4.2	-11.8	-11.8	-16.0	-9.2	>1.000%
Financial result	-22.7	-75.7	-98.4	-46.0	-144.3	19.1	-26.8	-125.2	-32.2	42.1%
Adjustments within Financial result	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit before income tax pre	1,322.3	1,230.2	2,552.5	1,158.5	3,711.1	1,033.5	2,192.1	4,744.6	1,154.8	-12.7%
Income tax pre	-290.9	-270.6	-561.6	-254.9	-816.4	-227.4	-482.3	-1,043.8	-254.1	-12.7%
underlying tax rate	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%
Non-controlling interest	-3.5	-2.5	-6.0	-1.8	-7.8	-2.3	-4.1	-10.1	-5.2	48.4%
Net income pre	1,027.9	957.1	1,984.9	901.9	2,886.8	803.9	1,705.7	3,690.7	895.6	-12.9%
EPS pre in €***	2.36	2.20	4.57	2.07	6.64	1.85	3.92	8.49	2.06	-12.7%
2) Reconciliation starting from Profit before tax
Profit before income tax	1,012.3	893.8	1,906.1	937.3	2,843.3	640.6	1,577.9	3,483.9	899.1	-11.2%
Amortization of purchased intangible assets	203.8	198.1	401.9	190.3	592.2	191.2	381.5	783.3	186.2	-8.6%
Impairments**	9.7	36.9	46.6	3.8	50.4	36.9	40.7	87.2	0.5	-95.1%
Adjustments
Acquisition costs	9.2	4.8	14.0	3.7	17.7	0.8	4.4	18.5	2.5	-72.7%
Restructuring costs	44.3	39.3	83.6	24.6	108.2	140.3	164.9	248.5	44.6	0.7%
Integration costs/IT costs	23.5	27.1	50.6	28.8	79.4	39.0	67.8	118.4	17.4	-26.1%
Gain (-)/ losses (+) on the divestment of businesses	0.3	17.1	17.4	-48.8	-31.4	-20.1	-68.8	-51.4	-4.8	n.m.
Other one-time costs	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Adjustments within Financial result	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total adjustments	96.5	101.5	198.0	27.2	225.2	164.9	192.1	390.1	69.1	-28.4%
Profit before income tax pre	1,322.3	1,230.2	2,552.5	1,158.5	3,711.1	1,033.5	2,192.1	4,744.6	1,154.8	-12.7%
Income tax pre	-290.9	-270.6	-561.6	-254.9	-816.4	-227.4	-482.3	-1,043.8	-254.1	-12.7%
underlying tax rate	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%	22.0%
Total costs excluded from Net income	231.7	253.5	485.2	163.2	648.4	218.6	381.8	867.0	201.3	-13.1%
Total costs excluded from EPS in €	0.53	0.58	1.12	0.38	1.49	0.50	0.88	1.99	0.46	-13.2%
Non-controlling interest	-3.5	-2.5	-6.0	-1.8	-7.8	-2.3	-4.1	-10.1	-5.2	48.4%
Net income pre	1,027.9	957.1	1,984.9	901.9	2,886.8	803.9	1,705.7	3,690.7	895.6	-12.9%
EPS pre in €***	2.36	2.20	4.57	2.07	6.64	1.85	3.92	8.49	2.06	-12.7%
Number of theoretical shares in million	434.8	434.8	434.8	434.8	434.8	434.8	434.8	434.8	434.8
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments.
** Only reflects impairments classified as adjustments.
*** For continuing operations.

Reconc. Group

Breakdown of depreciation and amortization and adjustments
Group	2023	2024	Change YoY
€ million	Division	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
a) Depreciation and amortization
Regular depreciation and amortization*	all	242.0	243.2	485.2	241.1	726.3	266.9	508.0	993.2	257.6	6.5%
Impairments not adjusted	all	0.0	4.2	4.2	0.0	4.2	11.8	11.8	16.0	9.2	>1.000%
Amortization of purchased intangible assets
Life Science	LS	118.2	115.8	234.0	108.5	342.5	108.8	217.3	451.3	107.8	-8.7%
Healthcare	HC	1.5	1.6	3.2	1.7	4.8	1.7	3.3	6.5	1.6	3.7%
Electronics	EL	84.1	80.6	164.7	80.1	244.8	80.8	160.8	325.6	76.8	-8.7%
Total	203.8	198.1	401.9	190.3	592.2	191.2	381.5	783.3	186.2	-8.6%
Impairments (net)**	all	9.7	36.9	46.6	3.8	50.4	36.9	40.7	87.2	0.5	-95.1%
Total depreciation and amortization	455.5	482.3	937.8	435.2	1,373.0	506.7	941.9	1,879.7	453.5	-0.4%
b) Adjustments
Acquisition costs	9.2	4.8	14.0	3.7	17.7	0.8	4.4	18.5	2.5	-72.7%
Restructuring costs
Life Science	LS	0.4	1.8	2.2	4.3	6.5	23.1	27.4	29.6	18.0	>1.000%
Healthcare	HC	-7.3	12.0	4.7	2.6	7.3	24.2	26.8	31.6	5.3	n.m.
Electronics	EL	2.2	6.9	9.1	9.9	18.9	41.0	50.9	60.0	4.1	88.8%
Corporate and Other	CO	49.0	18.5	67.6	7.9	75.4	52.0	59.8	127.4	17.2	-65.0%
Total	44.3	39.3	83.6	24.6	108.2	140.3	164.9	248.5	44.6	0.7%
Integration costs/IT costs
Integration Cost	LS/EL/CO	1.9	2.0	4.0	2.2	6.1	1.4	3.5	7.5	2.3	18.4%
ERP/HR systems	all	21.6	25.0	46.6	26.7	73.2	37.6	64.3	110.9	15.1	-30.1%
Total	23.5	27.1	50.6	28.8	79.4	39.0	67.8	118.4	17.4	-26.1%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities	CO	0.0	21.0	21.0	-3.0	18.0	-16.6	-19.6	1.4	0.0	n.m.
Costs related to former business activities	EL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Sale of CH, Allergopharma and others	HC	0.3	-3.9	-3.6	-45.8	-49.4	-3.4	-49.2	-52.8	-4.8	n.m.
Costs related to former business activities	LS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.3	17.1	17.4	-48.8	-31.4	-20.1	-68.8	-51.4	-4.8	n.m.
Other one-time costs
Others	HC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
LS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
EL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
CO	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Total	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Total adjustments	96.5	101.5	198.0	27.2	225.2	164.9	192.1	390.1	69.1	-28.4%
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments
** Only reflects impairments classified as adjustments.

Life Science

Income Statement Merck KGaA, Darmstadt, Germany
Life Science	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Net sales	2,486.8	2,353.5	4,840.3	2,190.9	7,031.2	2,249.4	4,440.2	9,280.5	2,143.7	-13.8%
Cost of sales	-999.2	-1,078.2	-2,077.5	-1,031.1	-3,108.6	-1,127.6	-2,158.8	-4,236.3	-987.6	-1.2%
thereof amortization of intangible assets	-13.3	-13.5	-26.8	-8.3	-35.1	-7.2	-15.4	-42.2	-7.1	-46.7%
Gross profit	1,487.5	1,275.3	2,762.8	1,159.7	3,922.6	1,121.7	2,281.4	5,044.3	1,156.2	-22.3%
in % of net sales	59.8%	54.2%	57.1%	52.9%	55.8%	49.9%	51.4%	54.4%	53.9%
SG&A	-711.3	-720.8	-1,432.2	-673.2	-2,105.4	-692.4	-1,365.7	-2,797.8	-683.3	-3.9%
in % of net sales	28.6%	30.6%	29.6%	30.7%	29.9%	30.8%	30.8%	30.1%	31.9%
Marketing and selling expenses	-567.5	-566.3	-1,133.8	-555.7	-1,689.5	-555.3	-1,110.9	-2,244.7	-550.6	-3.0%
thereof amortization of intangible assets (M&S)	-101.4	-100.4	-201.8	-98.2	-300.0	-99.5	-197.7	-399.5	-98.7	-2.7%
Administration expenses	-105.0	-102.8	-207.7	-102.7	-310.5	-114.6	-217.4	-425.1	-111.9	6.6%
Impairment losses and reversals (IFRS 9)	-1.1	-1.2	-2.3	-0.1	-2.4	0.3	0.2	-2.1	-1.0	-4.1%
Other operating expenses/income	-37.8	-50.6	-88.3	-14.8	-103.1	-22.8	-37.6	-125.9	-19.7	-47.7%
Impairments**	0.0	-31.9	-31.9	0.0	-31.9	-1.8	-1.8	-33.7	0.0	-100.0%
Research and development costs	-103.8	-99.1	-203.0	-90.4	-293.3	-103.1	-193.4	-396.4	-95.4	-8.1%
in % of net sales	4.2%	4.2%	4.2%	4.1%	4.2%	4.6%	4.4%	4.3%	4.5%
thereof amortization of intangible assets (R&D)	-3.4	-2.0	-5.4	-2.1	-7.5	-2.1	-4.1	-9.5	-2.1	-38.9%
EBIT	672.4	455.3	1,127.7	396.1	1,523.8	326.2	722.3	1,850.0	377.4	-43.9%
in % of net sales	27.0%	19.3%	23.3%	18.1%	21.7%	14.5%	16.3%	19.9%	17.6%
Depreciation and amortization	211.7	243.1	454.8	204.6	659.4	222.0	426.6	881.4	207.4	-2.0%
EBITDA	884.0	698.5	1,582.5	600.7	2,183.3	548.2	1,148.9	2,731.4	584.8	-33.8%
in % of net sales	35.5%	29.7%	32.7%	27.4%	31.1%	24.4%	25.9%	29.4%	27.3%
EBITDA pre	900.6	711.9	1,612.5	615.1	2,227.6	592.0	1,207.1	2,819.6	611.2	-32.1%
in % of net sales	36.2%	30.2%	33.3%	28.1%	31.7%	26.3%	27.2%	30.4%	28.5%
Reconciliation to EBITDA pre
EBITDA	884.0	698.5	1,582.5	600.7	2,183.3	548.2	1,148.9	2,731.4	584.8	-33.8%
Adjustments
thereof: Cost of Sales	0.2	-0.1	0.1	2.8	3.0	3.2	6.1	6.2	0.8	276.6%
thereof: Marketing and selling expenses	-1.2	0.3	-0.9	0.3	-0.6	12.9	13.2	12.3	5.3	n.m.
thereof: Administration expenses	11.1	12.0	23.0	9.0	32.0	20.8	29.8	52.8	17.1	54.9%
thereof: Other operating expenses/income	6.4	0.5	6.9	2.3	9.2	4.6	6.9	13.8	2.6	-59.8%
thereof: Research and development	0.0	0.7	0.8	0.0	0.8	2.3	2.3	3.1	0.6	>1.000%
Total	16.5	13.4	29.9	14.4	44.4	43.8	58.2	88.2	26.4	59.4%
EBITDA pre	900.6	711.9	1,612.5	615.1	2,227.6	592.0	1,207.1	2,819.6	611.2	-32.1%
Due to rounding the sum of individual values may not add up to totals presented.
** Only reflects impairments classified as adjustments.

Reconc. Life Science

Detailed reconciliation - Life Science
2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
EBIT	672.4	455.3	1,127.7	396.1	1,523.8	326.2	722.3	1,850.0	377.4	-43.9%
Regular depreciation and amortization*	93.5	95.4	188.9	96.1	285.0	111.4	207.5	396.4	99.5	6.5%
Impairments not adjusted	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-100.0%
Amortization of purchased intangible assets	118.2	115.8	234.0	108.5	342.5	108.8	217.3	451.3	107.8	-8.7%
Impairments (net)**	0.0	31.9	31.9	0.0	31.9	1.8	1.8	33.7	0.0	-100.0%
Total depreciation and amortization	211.7	243.1	454.8	204.6	659.4	222.0	426.6	881.4	207.4	-2.0%
EBITDA	884.0	698.5	1,582.5	600.7	2,183.3	548.2	1,148.9	2,731.4	584.8	-33.8%
Adjustments
Acquisition costs	5.0	-0.3	4.8	0.0	4.8	0.8	0.8	5.6	1.1	-78.4%
Restructuring costs
Restructuring costs	0.4	1.8	2.2	4.3	6.5	23.1	27.4	29.6	18.0	>1.000%
Total	0.4	1.8	2.2	4.3	6.5	23.1	27.4	29.6	18.0	>1.000%
Integration costs/IT costs
Integration Cost	0.7	1.0	1.7	0.9	2.7	0.8	1.7	3.5	1.0	40.1%
ERP/HR systems	10.3	10.9	21.2	9.2	30.4	19.1	28.3	49.5	6.2	-40.4%
Total	11.1	11.8	22.9	10.1	33.1	19.9	30.0	53.0	7.2	-35.0%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Other one-time costs
Others	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total adjustments	16.5	13.4	29.9	14.4	44.4	43.8	58.2	88.2	26.4	59.4%
EBITDA pre	900.6	711.9	1,612.5	615.1	2,227.6	592.0	1,207.1	2,819.6	611.2	-32.1%
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments.
** Only reflects impairments classified as adjustments.

Healthcare

Income Statement Merck KGaA, Darmstadt, Germany
Healthcare	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Net sales	1,905.5	2,049.5	3,955.0	2,066.3	6,021.3	2,031.9	4,098.2	8,053.2	2,047.7	7.5%
Cost of sales	-446.6	-485.9	-932.6	-540.0	-1,472.6	-556.4	-1,096.4	-2,029.0	-543.3	21.6%
thereof amortization of intangible assets	-1.2	-1.2	-2.3	-1.2	-3.5	-1.1	-2.3	-4.6	-1.1	-3.0%
Gross profit	1,458.9	1,563.6	3,022.4	1,526.2	4,548.7	1,475.5	3,001.8	6,024.2	1,504.4	3.1%
in % of net sales	76.6%	76.3%	76.4%	73.9%	75.5%	72.6%	73.2%	74.8%	73.5%
SG&A	-543.9	-546.4	-1,090.2	-481.7	-1,571.9	-570.7	-1,052.4	-2,142.6	-488.9	-10.1%
in % of net sales	28.5%	26.7%	27.6%	23.3%	26.1%	28.1%	25.7%	26.6%	23.9%
Marketing and selling expenses	-380.6	-422.4	-803.0	-405.5	-1,208.5	-459.1	-864.6	-1,667.6	-398.2	4.6%
thereof amortization of intangible assets (M&S)	-0.3	-0.4	-0.7	-0.5	-1.2	-0.5	-0.9	-1.6	-0.4	29.2%
Administration expenses	-75.5	-79.3	-154.8	-78.8	-233.6	-80.2	-159.0	-313.8	-75.2	-0.4%
Impairment losses and reversals (IFRS 9)	-1.0	-8.4	-9.4	-28.4	-37.8	-3.0	-31.3	-40.8	1.9	n.m.
Other operating expenses/income	-86.8	-36.2	-123.0	30.9	-92.0	-28.4	2.5	-120.5	-17.4	-79.9%
Impairments**	0.6	0.0	0.6	0.0	0.6	-10.5	-10.5	-9.9	0.0	-100.0%
Research and development costs	-395.3	-401.5	-796.7	-391.3	-1,188.0	-469.0	-860.3	-1,657.0	-397.5	0.6%
in % of net sales	20.7%	19.6%	20.1%	18.9%	19.7%	23.1%	21.0%	20.6%	19.4%
thereof amortization of intangible assets (R&D)	-0.1	-0.1	-0.1	-0.1	-0.2	-0.1	-0.1	-0.2	-0.1	0.0%
EBIT	519.7	615.8	1,135.5	653.2	1,788.7	435.9	1,089.1	2,224.6	618.0	18.9%
in % of net sales	27.3%	30.0%	28.7%	31.6%	29.7%	21.5%	26.6%	27.6%	30.2%
Depreciation and amortization	72.9	76.2	149.1	70.2	219.4	100.6	170.9	320.0	88.3	21.1%
EBITDA	592.6	692.0	1,284.6	723.4	2,008.1	536.5	1,259.9	2,544.6	706.3	19.2%
in % of net sales	31.1%	33.8%	32.5%	35.0%	33.3%	26.4%	30.7%	31.6%	34.5%
EBITDA pre	589.6	703.6	1,293.2	685.4	1,978.5	564.5	1,249.9	2,543.1	708.0	20.1%
in % of net sales	30.9%	34.3%	32.7%	33.2%	32.9%	27.8%	30.5%	31.6%	34.6%
Reconciliation to EBITDA pre
EBITDA	592.6	692.0	1,284.6	723.4	2,008.1	536.5	1,259.9	2,544.6	706.3	19.2%
Adjustments
thereof: Cost of Sales	0.2	-1.7	-1.5	0.3	-1.3	-0.1	0.2	-1.3	0.1	-52.4%
thereof: Marketing and selling expenses	0.3	4.6	4.9	5.7	10.6	18.3	23.9	28.8	3.7	>1.000%
thereof: Administration expenses	4.0	3.5	7.4	5.1	12.5	7.6	12.6	20.1	1.1	-72.0%
thereof: Other operating expenses/income	0.3	0.3	0.6	-49.3	-48.7	-2.3	-51.5	-51.0	-8.0	n.m.
thereof: Research and development	-7.8	5.0	-2.8	0.2	-2.6	4.5	4.7	1.9	4.8	n.m.
Total	-3.0	11.6	8.6	-38.1	-29.5	28.0	-10.1	-1.5	1.7	n.m.
EBITDA pre	589.6	703.6	1,293.2	685.4	1,978.5	564.5	1,249.9	2,543.1	708.0	20.1%
Due to rounding the sum of individual values may not add up to totals presented.
** Only reflects impairments classified as adjustments.

Reconc. Healthcare

Detailed reconciliation - Healthcare
2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
EBIT	519.7	615.8	1,135.5	653.2	1,788.7	435.9	1,089.1	2,224.6	618.0	18.9%
Regular depreciation and amortization*	71.9	70.4	142.3	68.5	210.9	76.7	145.3	287.6	77.7	8.0%
Impairments not adjusted	0.0	4.2	4.2	0.0	4.2	11.8	11.8	16.0	9.0	>1.000%
Amortization of purchased intangible assets	1.5	1.6	3.2	1.7	4.8	1.7	3.3	6.5	1.6	3.7%
Impairments (net)**	-0.6	0.0	-0.6	0.0	-0.6	10.5	10.5	9.9	0.0	-100.0%
Total depreciation and amortization	72.9	76.2	149.1	70.2	219.4	100.6	170.9	320.0	88.3	21.1%
EBITDA	592.6	692.0	1,284.6	723.4	2,008.1	536.5	1,259.9	2,544.6	706.3	19.2%
Adjustments
Acquisition costs	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Restructuring costs
Restructuring costs	-7.3	12.0	4.7	2.6	7.3	24.2	26.8	31.6	5.3	n.m.
Total	-7.3	12.0	4.7	2.6	7.3	24.2	26.8	31.6	5.3	n.m.
Integration costs/IT costs
Integration Cost	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
ERP/HR systems	4.0	3.5	7.4	5.1	12.5	7.2	12.3	19.7	1.1	-72.0%
Total	4.0	3.5	7.4	5.1	12.5	7.2	12.3	19.7	1.1	-72.0%
Gain (-)/ losses (+) on the divestment of businesses
Sale of Kuvan and Biosimilars	0.0	-7.6	-7.6	-50.5	-58.1	-4.0	-54.5	-62.1	-4.8	>1.000%
Sale of Consumer Health	0.0	4.3	4.3	4.7	9.0	0.6	5.3	9.6	0.0	3.2%
Sale of Allergopharma	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Others	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.3	-3.9	-3.6	-45.8	-49.4	-3.4	-49.2	-52.8	-4.8	n.m.
Other one-time costs
Others	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total adjustments	-3.0	11.6	8.6	-38.1	-29.5	28.0	-10.1	-1.5	1.7	n.m.
EBITDA pre	589.6	703.6	1,293.2	685.4	1,978.5	564.5	1,249.9	2,543.1	708.0	20.1%
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments.
** Only reflects impairments classified as adjustments.

Electronics

Income Statement Merck KGaA, Darmstadt, Germany
Electronics	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Net sales	900.7	899.3	1,800.0	915.9	2,715.9	943.2	1,859.1	3,659.2	928.4	3.1%
Cost of sales	-525.8	-572.2	-1,097.9	-592.2	-1,690.1	-641.9	-1,234.1	-2,332.0	-580.1	10.3%
thereof amortization of intangible assets	-33.6	-31.5	-65.2	-30.9	-96.1	-30.3	-61.2	-126.4	-30.0	-10.8%
Gross profit	374.9	327.2	702.1	323.7	1,025.8	301.3	625.0	1,327.2	348.3	-7.1%
in % of net sales	41.6%	36.4%	39.0%	35.3%	37.8%	31.9%	33.6%	36.3%	37.5%
SG&A	-215.1	-142.5	-357.7	-196.7	-554.3	-227.9	-424.6	-782.2	-180.0	-16.3%
in % of net sales	23.9%	15.8%	19.9%	21.5%	20.4%	24.2%	22.8%	21.4%	19.4%
Marketing and selling expenses	-158.2	-147.6	-305.8	-143.7	-449.5	-141.3	-285.0	-590.8	-137.7	-12.9%
thereof amortization of intangible assets (M&S)	-49.5	-48.2	-97.6	-48.1	-145.8	-49.3	-97.4	-195.0	-45.6	-7.9%
Administration expenses	-33.0	-35.1	-68.1	-40.0	-108.0	-39.1	-79.1	-147.1	-37.2	12.8%
Impairment losses and reversals (IFRS 9)	-0.1	-0.1	-0.2	0.1	-0.1	0.0	0.1	-0.1	0.1	n.m.
Other operating expenses/income	-23.8	40.2	16.4	-13.1	3.3	-47.5	-60.6	-44.2	-5.2	-78.3%
Impairments**	-10.3	-5.0	-15.3	-3.7	-18.9	-23.3	-27.0	-42.3	-0.5	-95.3%
Research and development costs	-74.1	-74.5	-148.7	-74.7	-223.4	-74.0	-148.7	-297.4	-73.1	-1.5%
in % of net sales	8.2%	8.3%	8.3%	8.2%	8.2%	7.8%	8.0%	8.1%	7.9%
thereof amortization of intangible assets (R&D)	-1.0	-0.9	-1.9	-1.0	-3.0	-1.2	-2.3	-4.2	-1.1	19.5%
EBIT	85.7	110.1	195.8	52.3	248.1	-0.5	51.7	247.5	95.2	11.1%
in % of net sales	9.5%	12.2%	10.9%	5.7%	9.1%	-0.1%	2.8%	6.8%	10.3%
Depreciation and amortization	142.6	134.7	277.3	133.5	410.8	157.4	290.9	568.2	129.8	-9.0%
EBITDA	228.2	244.8	473.1	185.8	658.8	156.9	342.6	815.7	224.9	-1.4%
in % of net sales	25.3%	27.2%	26.3%	20.3%	24.3%	16.6%	18.4%	22.3%	24.2%
EBITDA pre	237.3	261.7	499.1	207.9	707.0	206.0	413.9	913.0	236.6	-0.3%
in % of net sales	26.4%	29.1%	27.7%	22.7%	26.0%	21.8%	22.3%	25.0%	25.5%
Reconciliation to EBITDA pre
EBITDA	228.2	244.8	473.1	185.8	658.8	156.9	342.6	815.7	224.9	-1.4%
Adjustments
thereof: Cost of Sales	2.0	5.9	8.0	7.3	15.3	21.8	29.1	37.1	3.2	58.2%
thereof: Marketing and selling expenses	0.0	0.5	0.5	2.0	2.5	0.8	2.8	3.3	0.1	>1.000%
thereof: Administration expenses	2.0	3.6	5.7	7.7	13.3	15.4	23.1	28.7	4.7	135.0%
thereof: Other operating expenses/income	5.1	6.4	11.5	4.9	16.4	11.0	16.0	27.5	3.4	-33.7%
thereof: Research and development	-0.1	0.5	0.4	0.3	0.7	0.1	0.4	0.8	0.2	n.m.
Total	9.1	16.9	26.0	22.1	48.1	49.2	71.3	97.3	11.7	28.3%
EBITDA pre	237.3	261.7	499.1	207.9	707.0	206.0	413.9	913.0	236.6	-0.3%
Due to rounding the sum of individual values may not add up to totals presented.
** Only reflects impairments classified as adjustments.

Reconc. Electronics

Detailed reconciliation - Electronics
2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
EBIT	85.7	110.1	195.8	52.3	248.1	-0.5	51.7	247.5	95.2	11.1%
Regular depreciation and amortization*	48.2	49.1	97.3	49.7	147.0	53.3	103.0	200.3	52.5	9.0%
Impairments not adjusted	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.2	>1.000%
Amortization of purchased intangible assets	84.1	80.6	164.7	80.1	244.8	80.8	160.8	325.6	76.8	-8.7%
Impairments (net)**	10.3	5.0	15.3	3.7	18.9	23.3	27.0	42.3	0.5	-95.3%
Total depreciation and amortization	142.6	134.7	277.3	133.5	410.8	157.4	290.9	568.2	129.8	-9.0%
EBITDA	228.2	244.8	473.1	185.8	658.8	156.9	342.6	815.7	224.9	-1.4%
Adjustments
Acquisition costs	4.2	5.1	9.2	3.7	12.9	0.0	3.6	12.9	1.4	-65.8%
Restructuring costs
Restructuring costs	2.2	6.9	9.1	9.9	18.9	41.0	50.9	60.0	4.1	88.8%
Total	2.2	6.9	9.1	9.9	18.9	41.0	50.9	60.0	4.1	88.8%
Integration costs/IT costs
Integration Cost	1.1	1.0	2.1	1.2	3.3	0.5	1.6	3.8	1.1	1.2%
ERP/HR systems	1.7	3.9	5.6	7.4	13.0	7.7	15.1	20.7	5.1	203.6%
Total	2.8	4.9	7.7	8.6	16.3	8.2	16.8	24.5	6.2	121.9%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Other one-time costs
Others	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Total adjustments	9.1	16.9	26.0	22.1	48.1	49.2	71.3	97.3	11.7	28.3%
EBITDA pre	237.3	261.7	499.1	207.9	707.0	206.0	413.9	913.0	236.6	-0.3%
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments.
** Only reflects impairments classified as adjustments.

Corporate and Other

Income Statement Merck KGaA, Darmstadt, Germany
Corporate and Other	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Net sales	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Cost of sales	-0.9	-2.6	-3.5	1.6	-1.9	-1.4	0.3	-3.2	0.3	n.m.
thereof amortization of intangible assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Gross profit	-0.9	-2.6	-3.5	1.6	-1.9	-1.4	0.3	-3.2	0.3	n.m.
SG&A	-217.8	-183.9	-401.7	-95.4	-497.1	-118.3	-213.6	-615.3	-145.0	-33.4%
Marketing and selling expenses	-2.8	-3.1	-5.9	0.5	-5.4	-1.9	-1.4	-7.3	-0.5	-81.0%
thereof amortization of intangible assets (M&S)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-1.2%
Administration expenses	-144.4	-127.9	-272.3	-90.5	-362.8	-143.4	-233.9	-506.2	-107.4	-25.6%
Impairment losses and reversals (IFRS 9)	0.0	0.0	0.0	0.0	0.0	-7.6	-7.6	-7.6	0.0	-80.5%
Other operating expenses/income	-70.6	-52.9	-123.5	-5.4	-128.9	34.6	29.2	-94.3	-37.2	-47.4%
Impairments**	0.0	0.0	0.0	-0.1	-0.1	-1.2	-1.3	-1.3	0.0	n.m.
Research and development costs	-24.1	-25.3	-49.4	-24.7	-74.0	-20.4	-45.1	-94.4	-14.6	-39.3%
thereof amortization of intangible assets (R&D)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
EBIT	-242.8	-211.7	-454.5	-118.4	-572.9	-140.0	-258.5	-713.0	-159.3	-34.4%
Depreciation and amortization	28.4	28.2	56.6	26.9	83.5	26.7	53.6	110.2	28.1	-1.2%
EBITDA	-214.4	-183.5	-397.9	-91.5	-489.4	-113.4	-204.9	-602.8	-131.3	-38.8%
EBITDA pre	-140.5	-123.9	-264.5	-62.7	-327.2	-69.5	-132.3	-396.7	-101.9	-27.5%
Reconciliation to EBITDA pre
EBITDA	-214.4	-183.5	-397.9	-91.5	-489.4	-113.4	-204.9	-602.8	-131.3	-38.8%
Adjustments
thereof: Cost of Sales	0.2	0.4	0.6	0.0	0.7	-0.1	0.0	0.6	0.0	-100.0%
thereof: Marketing and selling expenses	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
thereof: Administration expenses	54.6	22.8	77.5	12.2	89.6	54.5	66.7	144.2	20.0	-63.4%
thereof: Other operating expenses/income	19.0	35.0	54.0	16.6	70.6	-10.5	6.1	60.1	9.6	-49.8%
thereof: Research and development	0.0	1.3	1.3	0.0	1.3	-0.2	-0.1	1.2	-0.2	n.m.
Total	73.9	59.6	133.5	28.8	162.2	43.9	72.6	206.1	29.4	-60.3%
EBITDA pre	-140.5	-123.9	-264.5	-62.7	-327.2	-69.5	-132.3	-396.7	-101.9	-27.5%
Due to rounding the sum of individual values may not add up to totals presented.
** Only reflects impairments classified as adjustments.

Reconc. Corporate and Other

Detailed reconciliation - Corporate and Others
2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
EBIT	-242.8	-211.7	-454.5	-118.4	-572.9	-140.0	-258.5	-713.0	-159.3	-34.4%
Regular depreciation and amortization*	28.4	28.2	56.6	26.8	83.4	25.4	52.2	108.8	28.1	-1.2%
Impairments not adjusted	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of purchased intangible assets	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-1.2%
Impairments (net)**	0.0	0.0	0.0	0.1	0.1	1.2	1.3	1.3	0.0	n.m.
Total depreciation and amortization	28.4	28.2	56.6	26.9	83.5	26.7	53.6	110.2	28.1	-1.2%
EBITDA	-214.4	-183.5	-397.9	-91.5	-489.4	-113.4	-204.9	-602.8	-131.3	-38.8%
Adjustments
Acquisition costs	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Restructuring costs
Restructuring costs	49.0	18.5	67.6	7.9	75.4	52.0	59.8	127.4	17.2	-65.0%
Total	49.0	18.5	67.6	7.9	75.4	52.0	59.8	127.4	17.2	-65.0%
IT project costs
Integration Cost	0.0	0.1	0.1	0.1	0.2	0.1	0.2	0.3	0.1
ERP/HR systems	5.6	6.8	12.4	4.9	17.3	3.6	8.5	20.9	2.7	-51.1%
Total	5.6	6.9	12.5	5.0	17.5	3.7	8.7	21.2	2.8	-49.9%
Gain (-)/ losses (+) on the divestment of businesses
Costs related to former business activities	0.0	21.0	21.0	-3.0	18.0	-16.6	-19.6	1.4	0.0	n.m.
Total	0.0	21.0	21.0	-3.0	18.0	-16.6	-19.6	1.4	0.0	n.m.
Other one-time costs
Others	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Total	19.2	13.2	32.4	18.9	51.3	4.8	23.7	56.1	9.4	-51.2%
Total adjustments	73.9	59.6	133.5	28.8	162.2	43.9	72.6	206.1	29.4	-60.3%
EBITDA pre	-140.5	-123.9	-264.5	-62.7	-327.2	-69.5	-132.3	-396.7	-101.9	-27.5%
Due to rounding the sum of individual values may not add up to totals presented.
* Regular depreciation and amortization = Depreciation and amortization - Amortization of purchased intangible assets - Impairments.
** Only reflects impairments classified as adjustments.

Financial result

Income Statement Merck KGaA, Darmstadt, Germany
Group	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Financial result	-22.7	-75.7	-98.4	-46.0	-144.3	19.1	-26.8	-125.2	-32.2	42.1%
Interest result	-27.4	-48.7	-76.1	-39.2	-115.3	15.3	-23.8	-100.0	-22.1	-19.4%
Interest income	20.6	36.7	57.3	25.0	82.2	70.8	95.8	153.0	28.1	36.4%
Interest expenses	-48.0	-85.4	-133.4	-64.1	-197.5	-55.4	-119.6	-253.0	-50.1	4.5%
Result from financial investments	13.4	7.4	20.8	12.7	33.5	10.6	23.2	44.1	7.3	-46.0%
Currency difference - financing	-1.4	-4.8	-6.3	5.6	-0.6	-0.4	5.3	-1.0	6.4	n.m.
Interest quota - pensions and other provisions	-7.3	-29.5	-36.8	-25.1	-61.9	-6.4	-31.5	-68.3	-23.8	227.0%
Others	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-86.7%
Due to rounding the sum of individual values may not add up to totals presented.

Cash Flow Statement Q

Cash Flow Statement Merck KGaA, Darmstadt, Germany
Group	2023	2024	Change YoY
€ million	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY	Q1	Q2	H1	Q3	9M	Q4	H2	FY
Profit after tax	799.7	706.1	1,505.8	740.4	2,246.2	587.6	1,328.0	2,833.8	699.5	-12.5%
Depreciation/amortization/impairment losses/reversals of impairment losses	455.5	482.3	937.8	435.2	1,373.0	506.7	941.9	1,879.7	453.5	-0.4%
of tangible assets	216.6	216.7	433.3	224.3	657.6	259.6	483.9	917.2	231.5	6.9%
of intangible assets	238.9	265.6	504.5	210.9	715.4	247.1	458.0	962.6	222.0	-7.1%
Changes in working capital	-223.9	-52.9	-276.8	-35.2	-312.0	171.5	136.3	-140.5	-177.4	-20.8%
Changes in inventories	-322.5	-106.3	-428.9	91.8	-337.0	248.3	340.2	-88.7	-40.9	-87.3%
Changes in trade accounts receivable	-116.5	14.7	-101.8	51.8	-50.0	41.6	93.3	-8.5	-64.0	-45.0%
Changes in trade accounts payable/ refund liabilities	215.1	38.8	253.9	-178.8	75.1	-118.5	-297.2	-43.4	-72.5	n.m.
Changes in provisions	-8.0	53.3	45.3	30.2	75.5	112.9	143.1	188.4	40.0	n.m.
Changes in other assets and liabilities	-187.0	-421.0	-608.0	143.1	-464.9	-290.1	-147.1	-755.1	32.6	n.m.
Neutralization of gain/loss on disposal of fixed assets and other disposals	-0.2	-145.5	-145.7	-7.0	-152.7	2.4	-4.6	-150.3	-7.9	>1.000%
Other non-cash income and expenses	16.5	0.1	16.7	-51.3	-34.6	-37.8	-89.1	-72.4	-5.0	n.m.
Operating Cash Flow	852.7	622.4	1,475.2	1,255.4	2,730.6	1,053.1	2,308.5	3,783.7	1,035.1	21.4%
thereof: from discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Payments for investments in intangible assets	-79.0	-30.9	-109.9	-33.7	-143.5	-72.6	-106.3	-216.2	-248.0	214.0%
Payments from the disposal of intangible assets	4.4	125.8	130.2	4.9	135.0	0.8	5.6	135.8	5.9	35.4%
Payments for investments in property, plant and equipment	-572.3	-295.6	-867.9	-428.4	-1,296.3	-511.0	-939.4	-1,807.4	-522.8	-8.6%
Payments from the disposal of property, plant and equipment	10.1	3.3	13.4	4.2	17.6	1.1	5.4	18.7	10.7	5.8%
Payments for acquisitions less acquired cash and cash equivalents (net)	0.1	0.1	0.1	-9.4	-9.3	-2.5	-11.9	-11.8	0.0	-100.0%
Payments from other divestments	-0.1	-0.2	-0.2	0.0	-0.2	0.0	0.0	-0.2	6.3	n.m.
Payments for investments in financial assets	-21.9	-12.2	-34.1	-58.8	-92.9	-444.3	-503.1	-537.2	-87.5	300.0%
Proceeds from the disposal of other financial assets	224.5	42.9	267.5	167.0	434.4	75.4	242.3	509.8	346.7	54.4%
Payments for the acquisition of non-financial assets	-897.0	-1,107.1	-2,004.1	-300.0	-2,304.2	-190.0	-490.1	-2,494.2	-200.0	-77.7%
Proceeds from the disposal of non-financial assets	100.0	1,414.1	1,514.1	303.9	1,818.0	692.8	996.7	2,510.8	0.0	-100.0%
Investing Cash Flow	-1,231.1	140.2	-1,091.0	-350.3	-1,441.3	-450.5	-800.8	-1,891.8	-688.7	-44.1%
thereof: from discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Dividend payments to Merck KGaA shareholders	0.0	-284.3	-284.3	0.0	-284.3	0.0	0.0	-284.3	0.0	n.m.
Dividend payments to non-controlling interests	0.0	-10.3	-10.3	-0.3	-10.6	-1.1	-1.4	-11.7	0.0	n.m.
Profit withdrawal by E.Merck KG	-90.4	-777.6	-868.0	0.0	-868.0	0.0	0.0	-868.0	-52.3	-42.1%
Changes in financial liabilities to E. Merck KG and E. Merck Beteiligungen KG	-0.8	697.8	697.1	-100.0	597.1	-320.4	-420.4	276.7	-26.9	>1.000%
Other changes in net equity	0.0	0.0	0.0	0.1	0.1	0.2	0.3	0.3	-0.1	>1.000%
Changes in current and non-current financial liabilities	215.6	-206.0	9.7	-202.2	-192.5	-652.7	-854.9	-845.3	-27.6	n.m.
Other changes from financing activities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Financing Cash Flow	124.5	-580.4	-455.9	-302.4	-758.3	-974.0	-1,276.4	-1,732.3	-106.9	n.m.
thereof: from discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Changes in cash and cash equivalents	-254.0	182.2	-71.7	602.7	530.9	-371.3	231.3	159.6	239.5	n.m.
Changes in cash and cash equivalents due to currency translation	-15.7	-5.3	-21.1	1.7	-19.3	-12.1	-10.4	-31.4	-2.0	-87.5%
Cash and cash equivalents as of January 1st	1,853.8	0.0	1,853.8	0.0	1,853.8	0.0	0.0	1,853.8	1,982.0	6.9%
Cash and cash equivalents	1,584.1	176.9	1,761.0	604.4	2,365.4	-383.4	221.0	1,982.0	2,219.6	40.1%
Changes in cash and cash equivalents due to change in scope of consolidation	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n.m.
Due to rounding the sum of individual values may not add up to totals presented.

Balance Sheet

Balance Sheet Merck KGaA, Darmstadt, Germany
Group	2023	2024	Shares of Totals	2011	Shares of Totals	2012
€ million	31-Mar	30-Jun	30-Sep	31. Dez	31-Mar	30-Jun	30-Sep	31-Dec	31-Mar	30-Jun	30-Sep	31. Dez	31-Mar	30-Jun	30-Sep	31-Dec
Non-current assets	35,686.3	35,763.3	36,339.9	36,102.3	36,680.9	73.4%	73.3%	72.8%	74.4%	74.1%
Goodwill	18,077.4	18,102.2	18,466.3	17,844.9	18,180.8	37.2%	37.1%	37.0%	36.8%	36.7%
Other intangible assets	6,953.8	6,765.2	6,716.5	6,551.3	6,480.6	14.3%	13.9%	13.5%	13.5%	13.1%
Property, plant and equipment	8,217.9	8,393.4	8,719.2	9,055.9	9,214.4	16.9%	17.2%	17.5%	18.7%	18.6%
Investments accounted for using the equity method	2.9	2.9	3.0	2.9	2.9	0.0%	0.0%	0.0%	0.0%	0.0%
Other non-current receivables	23.9	23.2	24.4	27.5	26.9	0.0%	0.0%	0.0%	0.1%	0.1%
Other non-current financial assets	958.9	1,040.9	989.8	980.8	1,067.7	2.0%	2.1%	2.0%	2.0%	2.2%
Other non-current non-financial assets	99.6	88.1	96.3	115.3	138.1	0.2%	0.2%	0.2%	0.2%	0.3%
Non-current income tax receivables	9.3	9.2	9.3	9.2	9.1	0.0%	0.0%	0.0%	0.0%	0.0%
Deferred tax assets	1,342.5	1,338.2	1,315.1	1,514.3	1,560.4	2.8%	2.7%	2.6%	3.1%	3.2%
Current assets	12,950.7	13,018.7	13,566.4	12,393.2	12,823.5	26.6%	26.7%	27.2%	25.6%	25.9%
Inventories	4,889.6	4,995.8	4,971.1	4,636.9	4,716.4	10.1%	10.2%	10.0%	9.6%	9.5%
Trade and other current receivables	4,269.8	4,209.8	4,195.1	4,003.9	4,147.1	8.8%	8.6%	8.4%	8.3%	8.4%
Contract assets	132.6	126.5	122.1	103.7	99.1	0.3%	0.3%	0.2%	0.2%	0.2%
Other current financial assets	136.8	166.3	218.3	499.1	264.1	0.3%	0.3%	0.4%	1.0%	0.5%
Other current non-financial assets	1,515.8	1,250.0	1,140.2	632.5	942.4	3.1%	2.6%	2.3%	1.3%	1.9%
Current income tax receivables	421.9	509.2	554.2	472.8	434.8	0.9%	1.0%	1.1%	1.0%	0.9%
Cash and cash equivalents	1,584.1	1,761.0	2,365.4	1,982.0	2,219.6	3.3%	3.6%	4.7%	4.1%	4.5%
Assets held for sale	0.0	0.0	0.0	62.3	0.0	0.0%	0.0%	0.0%	0.1%	0.0%
Total assets	48,637.0	48,781.9	49,906.2	48,495.4	49,504.4	100.0%	100.0%	100.0%	100.0%	100.0%
Total equity	26,230.0	26,771.9	28,294.5	26,754.31	28,074.2	53.9%	54.9%	56.7%	55.2%	56.7%
Equity capital	565.2	565.2	565.2	565.2	565.2	1.2%	1.2%	1.1%	1.2%	1.1%
Capital reserves	3,813.7	3,813.7	3,813.7	3,813.73	3,813.7	7.8%	7.8%	7.6%	7.9%	7.7%
Retained earnings	19,250.0	19,760.5	20,710.7	20,228.20	21,031.1	39.6%	40.5%	41.5%	41.7%	42.5%
Gain/losses recognized in equity	2,520.3	2,561.2	3,132.2	2,072.6	2,585.9	5.2%	5.3%	6.3%	4.3%	5.2%
Non-controlling interest	80.7	71.3	72.7	74.53	78.2	0.2%	0.1%	0.1%	0.2%	0.2%
Non-current liabilities	12,850.8	13,163.9	12,926.3	13,041.7	11,491.1	26.4%	27.0%	25.9%	26.9%	23.2%
Non-current provisions for employee benefits	1,965.3	1,994.5	1,773.6	2,192.0	2,132.9	4.0%	4.1%	3.6%	4.5%	4.3%
Other non-current provisions	307.0	294.1	276.0	277.4	262.7	0.6%	0.6%	0.6%	0.6%	0.5%
Non-current financial debt	9,159.3	9,495.4	9,540.5	9,239.5	7,822.5	18.8%	19.5%	19.1%	19.1%	15.8%
Other non-current financial liabilities	142.4	141.3	142.8	147.1	150.5	0.3%	0.3%	0.3%	0.3%	0.3%
Other non-current non-financial liabilities	19.3	19.0	18.2	16.5	16.3	0.0%	0.0%	0.0%	0.0%	0.0%
Non-current income tax liabilities	38.0	37.5	41.0	39.5	39.4	0.1%	0.1%	0.1%	0.1%	0.1%
Deferred tax liabilities	1,219.4	1,182.1	1,134.3	1,129.6	1,066.7	2.5%	2.4%	2.3%	2.3%	2.2%
Current liabilities	9,556.2	8,846.1	8,685.4	8,699.4	9,939.1	19.6%	18.1%	17.4%	17.9%	20.1%
Current provisions for employee benefits	131.6	105.9	124.4	82.9	81.3	0.3%	0.2%	0.2%	0.2%	0.2%
Other current provisions	378.8	448.1	469.0	575.0	594.0	0.8%	0.9%	0.9%	1.2%	1.2%
Current financial debt	1,484.9	1,690.1	1,415.7	701.5	2,130.5	3.1%	3.5%	2.8%	1.4%	4.3%
Other current financial liabilities	1,017.3	259.1	241.8	1,005.1	994.4	2.1%	0.5%	0.5%	2.1%	2.0%
Trade and other current payables	2,326.1	2,402.7	2,243.8	2,545.4	2,086.0	4.8%	4.9%	4.5%	5.2%	4.2%
Refund liabilities	947.1	963.1	990.0	876.8	880.9	1.9%	2.0%	2.0%	1.8%	1.8%
Current income tax liabilities	1,461.4	1,487.8	1,580.7	1,433.4	1,564.9	3.0%	3.0%	3.2%	3.0%	3.2%
Other current non-financial liabilities	1,809.1	1,489.4	1,620.1	1,479.4	1,607.1	3.7%	3.1%	3.2%	3.1%	3.2%
Liabilities included in disposal groups classified as held for sale	0.0	0.0	0.0	0.0	0.0	0.0%	0.0%	0.0%	0.0%	0.0%
Total liabilities and stockholders' equity	48,637.0	48,781.9	49,906.2	48,495.4	49,504.4	100.0%	100.0%	100.0%	100.0%	100.0%
2023	2024	Shares of Totals	2011	Shares of Totals	2012
31-Mar	30-Jun	30-Sep	31. Dez	31-Mar	30-Jun	30-Sep	31-Dec	31-Mar	30-Jun	30-Sep	31. Dez	31-Mar	30-Jun	30-Sep	31-Dec
Financial debt	10,644.2	11,185.5	10,956.2	9,941.0	9,953.0	21.9%	22.9%	22.0%	20.5%	20.1%
Net financial debt	8,991.9	9,354.9	8,426.5	7,500.0	7,497.9	18.5%	19.2%	16.9%	15.5%	15.1%
Additions to Property, plant and equipment (excl. Leasing)1	297.9	669.6	1,108.0	1,775.2	305.3	n.m.	n.m.	n.m.	n.m.	n.m.
Due to rounding the sum of individual values may not add up to totals presented.
1 Figures are year-to-date figures from January 1st until stated end date.