Sales

1,374.9

1,305.9

4,115.3

3,991.3

132.5

124.7

366.4

344.9

Royalty, license and commission income

93.9

87.6

260.6

259.5

0.3

0.3

1.3

1.5

Total revenues

1,468.8

1,393.5

4,375.9

4,250.7

132.8

125.0

367.7

346.4

Gross margin

1,225.1

1,199.8

3,633.7

3,605.1

90.7

86.3

252.4

237.5

Marketing and selling expenses

–343.8

–345.6

–1,062.3

–1,046.8

–56.9

–55.5

–174.3

–175.3

Royalty, license and commission expenses

–128.2

–110.4

–347.4

–340.4

–1.4

–0.3

–2.1

–1.0

Administration expenses

–65.2

–66.9

–193.0

–198.2

–5.6

–6.9

–17.5

–18.8

Other operating expenses and income

–52.6

–39.4

–325.1

–159.3

–3.2

–0.9

–5.1

–10.7

Research and development

–297.1

–279.6

–904.0

–880.2

–5.8

–5.5

–16.5

–16.4

Operating result

174.3

209.5

176.1

551.1

16.7

16.2

33.7

12.3

Exceptional items

–

–

6.8

–

–

–

–

–

Earnings before interest and tax (EBIT)

174.3

209.5

182.9

551.1

16.7

16.2

33.7

12.3

Net operating assets*

–

–

9,379.8

10,359.7

–

–

325.7

310.8

Segment liabilities*

–

–

–1,212.4

–1,268.9

–

–

–83.4

–86.4

Capital spending on property, plant and equipment

44.3

53.8

140.3

161.8

1.1

1.1

3.0

3.4

Investments in intangible assets

5.7

11.9

17.3

35.3

0.2

0.2

5.9

1.0

Depreciation and amortization

–213.6

–194.2

–624.5

–564.5

–2.7

–2.8

–8.0

–8.8

Impairment losses

–3.5

–0.8

–320.2

–18.0

–

–

–0.8

–

Net cash flows from operating activities

420.5

471.7

902.3

1,046.8

5.4

8.6

22.2

10.8

Net cash flows from investing activities

–38.8

–61.3

172.7

–187.5

–1.3

–0.9

–8.4

–4.5

Free cash flow

381.7

410.4

1,075.0

859.3

4.0

7.7

13.8

6.3

Underlying free cash flow

381.8

410.4

804.7

859.3

4.0

7.7

13.8

6.3

FCR in %

26.0

29.5

18.4

20.2

3.0

6.1

3.8

1.8

ROS in %

11.9

15.0

4.0

13.0

12.6

13.0

9.2

3.5

Pharmaceuticals

€ million

Q3
2011

Q3
2010

Jan.–Sep.
2011

Jan.–Sep.
2010

Sales

1,507.4

1,430.6

4,481.7

4,336.2

Royalty, license and commission income

94.2

87.8

261.9

261.0

Total revenues

1,601.6

1,518.4

4,743.6

4,597.1

Gross margin

1,315.9

1,286.0

3,886.1

3,842.6

Marketing and selling expenses

–400.6

–401.1

–1,236.7

–1,222.1

Royalty, license and commission expenses

–129.6

–110.7

–349.5

–341.3

Administration expenses

–70.8

–73.7

–210.5

–217.0

Other operating expenses and income

–55.8

–40.3

–330.2

–170.0

Research and development

–303.0

–285.1

–920.5

–896.6

Operating result

191.0

225.7

209.8

563.4

Exceptional items

–

–

6.8

–

Earnings before interest and tax (EBIT)

191.0

225.7

216.6

563.4

Net operating assets*

–

–

9,705.5

10,670.5

Segment liabilities*

–

–

–1,295.8

–1,355.3

Capital spending on property, plant and equipment

45.4

54.9

143.4

165.2

Investments in intangible assets

5.8

12.2

23.2

36.2

Depreciation and amortization

–216.3

–196.9

–632.4

–573.3

Impairment losses

–3.5

–0.8

–320.9

–18.0

Net cash flows from operating activities

425.9

480.4

924.6

1,057.6

Net cash flows from investing activities

–40.1

–62.3

164.3

–192.0

Free cash flow

385.7

418.1

1,088.9

865.6

Underlying free cash flow

385.8

418.1

818.6

865.6

FCR in %

24.1

27.5

17.3

18.8

ROS in %

11.9

14.9

4.4

12.3