[35] Net cash flows from financing activities Audited by KPMG

Disclosed dividend payments and transfers of profits in accordance with the Articles of Association were broken down as follows in the fiscal year:

[ XLS ]

€ million

2007

2006

Dividend payments

 

 

 

 

Dividends to shareholders

–67.8

 

–43.6

 

Dividends to minority shareholders

–9.2

–77.0

–6.1

–49.7

 

 

 

 

 

Net profits transferred by Merck KGaA
to E. Merck OHG

 

 

 

 

Profit transfer in accordance with the Articles of Association from E. Merck OHG to Merck KGaA

–2.1

 

–4.0

 

Profit transfer in accordance with the Articles of Association from Merck KGaA to E. Merck OHG

–65.1

 

–400.9

 

Appropriation by E. Merck OHG to reserves/profit carried forward of Merck KGaA

–438.2

–505.4

203.8

–201.1

Profit transfer from Merck & Cie KG
to E. Merck OHG

 

–30.4

 

–28.3

 

 

 

 

 

Total dividend payments and profit transfers

 

–612.8

 

–279.1

Free cash flow after dividend payments and profit transfers totaled €–2,085.9 million (2006: €–1,352.5 million).