|
Performance & Life Science Chemicals | Key figures |
XLS | ||
|
|
|
|
|
|
€ million |
2008 |
2007 |
Δ in % |
|
Total revenues |
1,246 |
1,235 |
0.9 |
|
Gross margin |
629 |
615 |
2.3 |
|
R&D |
58 |
58 |
0.0 |
|
Operating result |
167 |
144 |
15 |
|
Exceptional items |
–46 |
– |
– |
|
Free cash flow (FCF) |
58 |
132 |
–56 |
|
FCF before acquisitions and disposals |
67 |
132 |
–49 |
|
ROS in % |
13.4 |
11.7 |
|
Rise in operating result
Total revenues of the Performance & Life Science Chemicals division increased by 0.9% to € 1,246 million in 2008. Currency effects, particularly in the United States and Asia, impacted the division’s growth, which amounted to 4.0% on a currency-adjusted basis. Gross margin increased by 2.3% to € 629 million. In comparison with the previous year, which saw restructuring costs, the operating result rose by 15% to € 167 million.
At 13.4%, return on sales was better than in the previous year. Free cash flow decreased by 56% to € 58 million, which was mainly the result of investments in property, plant and equipment, as well as changes in working capital. In 2008, the Performance & Life Science Chemicals division spent around € 58 million on research and development. We consolidated our global chemical production organization in 2008 in order to serve our markets more efficiently.