默克集团Merck Group（MRK）2019年年度报告「FWB」（英文版）（316页）.pdf

1、Draft as of December 20.PDF version for illustrative purposes,report will be published online.A N N U A L R E P O R T2Key Figures for 20191 Not defined y International Financial Reporting Standards(IFRSs).MERCK GROUPNet sales millionMERCK GROUPEBITDA pre1 millionMERCK GROUP Key figures Change millio

2、n 2019 2018 million%Net sales 16,152 14,836 1,315 8.9%Operating result(EBIT)1 2,120 1,727 393 22.8%Margin(%of net sales)1 13.1%11.6%EBITDA1 4,066 3,528 539 15.3%Margin(%of net sales)1 25.2%23.8%EBITDA pre1 4,385 3,800 585 15.4%Margin(%of net sales)1 27.1%25.6%Profit after tax 1,324 3,396-2,072-61.0%

3、Earnings per share(in)3.04 7.76-4.72-60.8%Earnings per share pre()1 5.56 5.10 0.46 9.0%Business free cash flow1 2,732 2,508 224 8.9%1Not defined by International Financial Reporting Standards(IFRSs).Owing to the altered expectations in terms of the impact of the Covid-19 pandemic,some chapters of th

4、is Annual Report were updated on May 12,2020.The respective text passages are marked in magenta.Table of Contents Annual ReportTo Our Shareholders5 Letter from Stefan Oschmann8 The Executive Board9 Merck SharesCombined Management Report12 Fundamental Information about the Group12 Merck20 Strategy27

5、Internal Management System33 Corporate Responsibility44 Research and Development56 People at Merck64 Report on Economic Position64 Macroeconomic and Sector-Specific Environment67 Review of Forecast against Actual Business Developments75 Course of Business and Economic Position75 Merck Group87 Health

6、care93 Life Science98 Performance Materials103 Corporate and Other104 Report on Risks and Opportunities120 Report on Expected Developments125 Report in accordance with Section 315a(1)of the German Commercial Code(HGB)127 Additional Information on Merck KGaA in accordance with the German Commercial C