Chemicals | Total revenues by division – Q2
The Chemicals business sector was reorganized last year after the July 14 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 accounted for 37% of the Group’s total revenues in the second quarter.
This business sector’s total revenues rose by 49% to € 957 million in the second quarter and by 61% to € 1,977 million in the first half of 2011. This was largely due to the inclusion of Millipore sales as well as a solid performance by the Performance Materials division. The Merck Millipore division booked € 46 million for amortization of intangible assets from the Millipore acquisition and the Performance Materials division had inventory adjustments of € –39 million plus impairments of € –8.6 million on the value of various patents. Therefore, the Chemicals business sector’s operating result declined 9.3% to € 151 million in the second quarter but rose 18% to € 391 million in the first half of 2011.
The German Chemical Industry Association (VCI) forecast on July 14 that German chemical sales would increase by 10% in 2011 while prices would increase by 5%.
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