默克集团Merck Group（MRK）2025年年度报告「FWB」（英文版）（558页）.pdf

1、Annual Report2025KEY FIGURES 2025Merck GroupNet sales millionMerck GroupMerck GroupEBITDA pre1 million1 Not defined by IFRS Accounting Standards.Change million20252024 million%Net sales21,102 21,156-54-0.3%Operating result(EBIT)13,601 3,645-44-1.2%Margin(%of net sales)117.1%17.2%EBITDA25,899 5,779 1

2、20 2.1%Margin(%of net sales)128.0%27.3%EBITDA pre 16,109 6,072 37 0.6%Margin(%of net sales)128.9%28.7%Profit after tax2,615 2,786-171-6.1%Earnings per share(in)6.00 6.39-0.39-6.1%Earnings per share pre()18.34 8.63-0.29-3.4%Operating cash flow 3,932 4,586-654-14.3%1 Not defined by IFRS Accounting Sta

3、ndards(IFRS Accounting Standards).2 Not defined by IFRS Accounting Standards;EBITDA corresponds to operating result(EBIT)adjusted by depreciation,amortization,impairment losses,and reversals of impairment losses.A strong teamLife ScienceNet sales per regionHealthcareElectronicsemployees62,461Share o

4、fnet sales42%Share ofnet sales41%Share ofnet sales17%Share ofEBITDA pre40%Share ofEBITDA pre47%Share ofEBITDA pre13%countries65Asia-Pacific 6,936 millionEurope 6,417 millionNorth America 5,517 millionLatin America 1,447 millionMiddle East and Africa785 millionAT A GLaNCETogether,we impact life and h

5、ealth with science.We help to create,improve and prolong lives.We are advancing digital living.Table of contents To our Shareholders 6 Letter of the CEO 9 Executive Board 10 Our Shares Combined Management Report 14 Fundamental Information about the Group 14 Company Profile and Structure 25 Strategy

6、32 Internal Management System 39 Research and Development 51 Report on Economic Position 51 Macroeconomic and Sector-Specific Environment 55 Review of Forecast against Actual Business Development 59 Course of Business and Economic Position 59 Merck Group 70 Life Science 74 Healthcare 79 Electronics