Report on expected developments

The Executive Board forecasts full-year total revenues for the Group to be about € 10 billion to € 10.2 billion. Likewise, the Executive Board expects the Group underlying core operating result for 2011 to amount to about € 2.25 billion, as stated in July. The net financial debt of the Merck Group resulting from the 2010 acquisition of Millipore continues to decrease at an excellent pace.

Merck Guidance for 2011

XLS

 

 

Merck Group

Expectations 2011

Total Revenues

~ € 10 – € 10.2 billion

Operating Result

~ € 1.0 billion

Underlying Core Operating Result

~ € 2.25 billion

XLS

Merck Divisions

Total Revenues Growth 2011

*

Adjusted to reflect that the Cosmetic Actives business was transferred to Performance Materials in 2011 from Merck Millipore

Merck Serono

~ 1–2%

Consumer Health Care

~ 5–6%

Merck Millipore*

~ 47%

Performance Materials*

~ 3–4%