With total revenues and gross margin rising faster than expenses, the operating result increased substantially by 64% in the third quarter to EUR 363 million from EUR 222 million in the year-ago quarter. Organically, meaning excluding Millipore and currency effects, the Group operating result rose by 97%.
The Group return on sales (ROS: operating result/total revenues) increased to 14.9% in the third quarter of 2010 compared to 11.4% in the year-ago quarter, boosted by the strong operating result of the Merck Serono division. Group core ROS (operating result excluding Serono- and Millipore-related amortization of intangible assets/total revenues) in the third quarter of 2010 was 25.6% compared to 18.9% in the year-ago quarter.
There were no exceptional items in the third quarter of 2010 or in the corresponding quarter of 2009.
Therefore, earnings before interest and tax (EBIT) in the third quarter of 2010 rose 64% to EUR 363 million compared to EUR 222 million in the year-ago quarter.
Due to interest on the financing for Millipore, Merck’s financial result fell by more than 100% to EUR
The Merck Group’s third-quarter profit before tax increased 52% to EUR 289 million from EUR 190 million in the year-ago quarter. Merck’s underlying tax rate rose to 25.8% for the third quarter of 2010 compared to very low 22.2% in the year-ago quarter.
Profit after tax in the third quarter of 2010 increased 45% to EUR 215 million from EUR 148 million in the third quarter of 2009.
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