Total assets of the Merck Group as of March 31, 2011, amounted to EUR 22,218 million, nearly unchanged from the EUR 22,388 million in total assets recorded on December 31, 2010.
The equity ratio increased to 47.6% as of March 31, 2011, from 46.3% at the beginning of the year. As a result of the Group’s positive cash flow development, net financial debt in the first quarter of 2011 declined by EUR 743 million to EUR 3,742 million from EUR 4,484 million at the end of 2010.