Merck Group third-quarter total revenues increased 25% to a record EUR 2,438 million from EUR 1,950 million in the year-ago quarter, boosted by the EUR 5.1 billion acquisition of Millipore Corporation, Billerica, Massachusetts, USA, on July 14. The acquisition contributed 16 percentage points, positive currency effects 5.3 percentage points and organic growth 3.5 percentage points of the increase.
Royalty and commission income increased 3.5% to EUR 91 million in the third quarter, mainly stemming from the Merck Serono division.
Cost of sales, which included a EUR 43 million write-off of the Millipore inventory step-up, increased at a lower rate than revenues. Therefore, the gross margin in the third quarter improved 27% to EUR 1,818 million from EUR 1,428 million in the year-ago quarter.
Components of growth by division – Q3 |
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Change in total revenues compared to last year in % |
Merck Serono |
Consumer Health Care |
Merck Millipore |
Performance Materials |
Merck Group |
Organic growth |
1.6 |
1.9 |
6.6 |
10.5 |
3.5 |
Currency effects |
4.1 |
–0.2 |
7.6 |
11.8 |
5.3 |
Acquisitions /divestments |
– |
– |
138.9 |
0.4 |
16.2 |
Total |
5.7 |
1.7 |
153.1 |
22.7 |
25.0 |