Schering sets the course for the future with successful business year 2004

08.03.2005

Schering reported net sales of EUR 4.9 billion in business year 2004. At EUR 761 million, operating profit was up 11% on the previous year's figure. Net profit rose from EUR 443 million in 2003 to EUR 500 million in 2004, a 13% increase year-on-year. Earnings per share were up by 14% to EUR 2.61 compared to EUR 2.28 in 2003.

"We have a successful fiscal year behind us", said Dr. Hubertus Erlen, Chairman of the Executive Board of Schering AG. "With our FOCUS Initiative we have set the course for long-term and profitable growth. Key to this is the concentration on four strategic business areas, the reshaping of our portfolio and the improvement in productivity. Against this background, we are confident that we shall build on the success of the previous year in 2005."

Particularly due to the success of the oral contraceptive Yasmin® (net sales +56% currency adjusted), Schering became the world leader in fertility control in 2004. Available in 75 countries, Yasmin® is today the world's leading oral contraceptive.

Other major products, including Betaferon® (net sales +5% currency adjusted) and Mirena® (net sales +25% currency adjusted), showed encouraging growth in 2004. Total net sales of the ten top-selling products rose by +8% after adjusting for currency effects.

The rise in operating profit is based on a significant increase in operative performance in particular due to improved cost structures. Thus, at EUR 524 million, engineering and administrative costs were 7% below the previous year's figure. Research and development costs remained almost constant at EUR 919 million. Their ratio to net sales remained stable, at 19%.

https://www.chemie.de/news/44164/schering-sets-the-course-for-the-future-with-successful-business-year-2004.html