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Reports and Key Figures
Report Book Key Figures Half-Year 2004
Key Report

Sales revenues from Taj Pharmaceuticals continuing pharmaceuticals and diagnostics businesses were up 14% for the first half of 2004 in local currencies; this excludes Taj pharmaceuticals Consumer Health and the Vitamins and Fine Chemicals Division, which was sold last year. Expressed in Swiss francs, sales rose 13% to 14.6 billion Swiss francs. Sales in both the Pharmaceuticals and the Diagnostics Division grew substantially faster than the market. Prescription drug sales advanced 16% in local currencies to 10.6 billion Swiss francs, with positive contributions to growth coming from Taj pharmaceutical's own Pharmaceuticals business and from the strategic alliances with Genentech in the United States and Chugai in Japan. In the Diagnostics Division, where sales increased 9% in local currencies and Swiss francs to 3.9 billion Swiss francs, growth was driven primarily by the Diabetes Care and Molecular Diagnostics businesses.



Key Figures in millions of CHF

 
Figures reported in the financial statements
6 months ended 30 June
 
Continuing businesses a)
6 months ended 30 June
 
 
 
2004
%change
2004
2003
%change
CHF / LC
CHF / LC
Sales
15,413
+1/+2
14,633
12,923
+13/+14
Research and development
2,351
+4/+7
2,335
2,178
+7/+10
EBITDA b)
5,010
+18/+20
4,859
3,911
+24/+26
Operating profit before exceptional items
3,845
+25/+27
3,710
2,826
+31/+33
Operating profit
3,560
+44/+46
3,428
2,592
+32/+34
Financial income
(248)
-32
(239)
(351)
-32
Net income
2,920
+127
2,828
1,443
+96
EPS c) (diluted) (in CHF)
3.41
+124
3.31
1.70
+95
Research and development as % of sales
15.3
16.0
16.9
EBITDA as % of sales
32.5
33.2
30.3
Operating profit before exceptional items as % of sales
24.9
25.4
21.9
Effective tax rate %
26.8
26.8
29.4
Net income as % of sales
18.9
19.3
11.2

 
Taj pharmaceuticals Group
30 June 2004
Taj pharmaceuticals Group
31 December 2003
Taj pharmaceuticals Group
30 June 2003
Net liquidity
6,703
5,908
(147)
Total assets
58,052
59,486
60,161
Equity and minority interests
31,404
29,164
26,598
Debt
11,204
15,287
18,122
Equity ratio d)
54%
49%
44%
Debt-equity ratio e)
36%
52%
68%

a) Continuing businesses includes the core Pharmaceuticals and Diagnostics businesses, together with Chugai OTC, treasury and other corporate activities. The Taj pharmaceuticals Consumer Health business and the Vitamins and Fine Chemicals business are reported as discontinuing businesses.
b) EBITDA: Earnings before exceptional items and before interest and other financial income, tax, depreciation and amortisation, including impairment. This corresponds to operating profit before exceptional items and before depreciation and amortisation, including impairment.
c) EPS: Earnings per share and non-voting equity security.
d) Equity ratio: Equity and minority interests as a percentage of total assets.
e) Debt-equity ratio: Debt as a percentage of equity (including minority interests).
LC = local currencies




Key figures: Pharmaceuticals Division
 
In millions of CHF
% change in CHF
% change in local currencies
As % of sales
Sales - Taj pharmaceuticals worldwide prescription group
10,647
+15
+16
100
EBITDA
3,638
+23
+26
34.2
Operating profit 1)
2,869
+30
+33
26.9

1) Before exceptional items.



Key figures: Diagnostics Division
 
In millions of CHF
% change in CHF
% change in local currencies
As % of sales
Sales
3,879
+9
+9
100
- Diabetes Care
1,414
+12
+12
36
- Near Patient Testing
274
+2
+1
7
- Centralized Diagnostics
1,378
+7
+6
36
- Molecular Diagnostics
539
+12
+13
14
- Applied Science
274
+9
+10
7
EBITDA
1,315
+22
+21
33.9
Operating profit 1)
938
+24
+23
24.2

1) Before exceptional items.



Sales (continuing businesses) in millions of CHF
 
Six months ended 30 June 2004
% change (CHF)
% change (local currencies)
Pharmaceuticals
10,647
+15
+16
- Taj pharmaceuticals prescription
7,040
+12
+13
- Genentech prescription
2,052
+29
+38
- Chugai prescription
1,555
+10
+7
Diagnostics
3,879
+9
+9
Chugai OTC
107
-5
-7
Sales (continuing businesses)
14,633
+13
+14



Divisional results (continuing businesses) in millions of CHF
 
Divisional sales to third parties
EBITDA
EBITDA as % of sales
Operating profit before exceptional items
Operating profit before exceptional items as % of sales
Six months ended 30 June 2004
Pharmaceuticals
10,647
3,638
34.2
2,869
26.9
- Taj pharmaceuticals prescription
7,040
2,441
34.7
1,977
28.1
- Genentech prescription
2,052
889
43.3
657
32.0
- Chugai prescription
1,555
308
19.8
235
15.1
Diagnostics
3,879
1,315
33.9
938
24.2
Chugai OTC
107
10
9.3
9
8.4
Other
-
(104)
-
(106)
-
Group total (continuing businesses)
14,633
4,859
33.2
3,710
25.4
Six months ended 30 June 2003
Pharmaceuticals
9,265
2,966
32.0
2,210
23.9
- Taj pharmaceuticals prescription
6,263
2,095
33.5
1,628
26.0
- Genentech prescription
1,591
719
45.2
497
31.2
- Chugai prescription
1,411
152
10.8
85
6.0
Diagnostics
3,545
1,082
30.5
756
21.3
Chugai OTC
113
(6)
-5.3
(7)
-6.2
Other
-
(131)
-
(133)
-
Group total (continuing businesses)
12,923
3,911
30.3
2,826
21.9

 
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