Value added is a measure of the economic strength of a company and indicates how the corporate result is achieved and for what it is used.
Our corporate result, meaning the sum of total revenues, other income and financial income, amounted to EUR 9,552 million in 2010. After deducting the costs of materials as well as other purchased services and expenses, gross value added amounted to EUR 5,008 million.
Following the deduction of depreciation and amortization, net value added was EUR 3,750 million. With a share of 69%, the majority amounting to EUR 2,597 million benefited employees in the form of personnel expenses. Financial expenses increased over 2009 to EUR 291 million owing to higher financing costs for the acquisition of Millipore. Taxes on income increased significantly to EUR 220 million due to the higher level of profit before tax. At EUR 642 million, profit after tax considerably exceeded the 2009 figure of EUR 377 million.
Net value added statement |
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|
|
|
EUR million |
2010 |
2009 |
Total revenues |
9,291 |
7,747 |
Other income |
221 |
135 |
Financial income |
40 |
36 |
Corporate result |
9,552 |
7,918 |
Cost of materials |
–1,246 |
–1,052 |
Other purchased services/expenses |
–3,298 |
–3,075 |
Gross value added |
5,008 |
3,791 |
Depreciation and amortization |
–1,258 |
–1,004 |
Net value added |
3,750 |
2,787 |
Distribution of net value added |
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|
|
|
EUR million |
2010 |
2009 |
Personnel expenses |
2,597 |
2,129 |
Financial expenses |
291 |
171 |
Taxes on income |
220 |
110 |
Profit after tax |
642 |
377 |
Net value added |
3,750 |
2,787 |