The following report provides a forecast for the development of the Merck Group and its divisions in 2014 focusing on the three most significant financial key performance indicators (KPIs) for the Merck Group and its businesses: sales, EBITDA pre one-time items and business free cash flow. We take into account the company’s weighing up of risks and opportunities in accordance with our operational plans and medium-term assumptions.
In December 2013 Merck made an offer to AZ shareholders to acquire AZ Electronic Materials. From today’s perspective the acquisition is expected to close in the course of 2014 (the successful completion of the transaction is conditional upon antitrust clearance, among other things). The following report provides on the one hand the expected developments of the Merck Group excluding the impact from a potential acquisition of AZ Electronic Materials. On the other hand, we provide separately a forecast for the Merck Group and for the Performance Materials division, which would be affected by the acquisition of AZ Electronic Materials assuming the first-time consolidation of AZ Electronic Materials in the Merck Group in the second quarter of 2014.
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