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* The management report for Merck KGaA has been combined with the Group management report and published in the 2016 Merck Annual Report as well as in the annual financial statements of Merck KGaA. The annual financial statements and the combined management report of the Merck Group and Merck KGaA for 2016 are being filed with the electronic German Federal Gazette (elektronischer Bundesanzeiger) and are available on the website of the German company register. This combined management report contains certain financial indicators such as EBITDA pre exceptionals, operating result (EBIT), business free cash flow, net financial debt and earnings per share pre exceptionals, which are not defined by International Financial Reporting Standards (IFRS). These financial indicators should not be taken into account in order to assess the performance of Merck in isolation or used as an alternative to the financial indicators presented in the consolidated financial statements and determined in accordance with IFRS. The figures presented in this combined management report have been rounded. This may lead to individual values not adding up to the totals presented.

Merck

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