Chemicals | Total revenues by division – Q1
The Chemicals business sector was reorganized last year after the July 14, 2010 acquisition of the U.S.-based life-science company Millipore. Millipore was combined with most of the Performance & Life Science Chemicals division to form the Merck Millipore division. This division has three business units – Bioscience, Lab Solutions and Process Solutions. The second Chemicals division is Performance Materials. It consists of two business units – Liquid Crystals and Pigments & Cosmetics.
The Chemicals business sector contributed 40% of the Group’s total revenues and 61% of the operating result*.
This business sector’s first-quarter total revenues jumped 75% to EUR 1,020 million. This was largely due to the inclusion of Millipore sales as well as strong sales growth in the Performance Materials division. The gross margin grew at a faster rate than total revenues, reaching EUR 620 million. The business sector booked EUR 48 million for amortization of intangible assets, mainly for the Millipore acquisition. The Chemicals business sector’s operating result rose 44% to EUR 241 million.
The German Chemical Industry Association (VCI) forecast on December 14, 2010, that German chemical production would increase by 2.5% and sales of German chemicals would rise by 4% in 2011.