SHAriNG e XPerTiSe. PrOMOTiNG PArTNerSHiP. Annual Report 2011 Five-yeAr Overview 2007 2008 2009 2010 2011 € million € million € million € million € million Sales 3,572.9 3,786.4 4,028.2 4,422.8 4,609.4 Cost of Goods Sold 1,898.3 2,029.6 2,151.4 2,341.7 2,471.2 Functional expenses 1,297.1 1,366.2 1,432.3 1,595.9 1,688.0 Selling expenses 972.9 1,031.2 1,091.1 1,218.9 1,277.2 General and Administrative expenses 207.9 204.7 202.1 221.6 230.9 research & Development expenses 116.2 130.3 139.1 155.4 179.9 Interim profit 377.6 390.6 444.5 485.2 450.3 operating profit 348.7 345.7 410.6 456.2 432.2 profit before taxes 283.0 268.8 336.1 389.6 360.2 Consolidated Annual Net profit 217.7 185.1 239.6 277.4 255.7 eBItDA 535.9 545.8 620.5 700.5 688.5 Assets 3,332.1 3,708.0 3,975.1 4,686.1 5,105.7 intangible Assets (incl. Goodwill) 124.3 157.1 167.9 218.6 268.0 Property, Plant and equipment 1,435.8 1,698.7 1,926.8 2,305.0 2,541.7 inventories 709.7 726.7 708.5 780.0 833.4 Trade Accounts receivable 738.0 767.6 790.1 933.5 1,016.3 equity 1,255.3 1,389.7 1,620.0 1,984.0 2,183.5 liabilities 2,076.8 2,318.3 2,355.1 2,702.0 2,922.1 Pension Obligations 456.9 470.4 491.8 513.3 533.2 Financial Liabilities 895.7 1,094.5 1,006.4 1,233.4 1,401.7 Trade Accounts Payable 177.4 179.2 210.3 216.8 219.7 Investments in property, plant and equipment and Intangible Assets 349.4 471.0 454.8 575.4 541.4 Depreciation and Amortization of property, plant and equipment and Intangible Assets 182.9 197.8 208.6 238.2 252.9 personnel expenditures 1,271.4 1,339.8 1,424.9 1,581.7 1,648.9 employees (annual average) 35,810 37,601 38,512 40,316 42,739 2 0 11 t R R e p o COMPAN y P rOF iL e l B. Braun is one of the world’s leading providers of healthcare solutions. NNUA Through its Hospital Care, Aesculap, Out Patient Market, and B. Braun A Avitum Divisions, the company supplies medical products and services | to hospitals, physicians in private practice, and the homecare market. Training instructor Dirk Schmoll and apprentice Melissa Piskorsch examine components of a printed circuit board assembly at B. Braun’s 3 0 0 2 0113 B . B R A U N new training center in Melsungen, Germany. B. BrAuN AT A GLANCe HiGHLiGHT S 2011 Key performance indicators Sales FeBRUARy The billionth „ecoflac plus“ container for AUGUSt The new training center in Melsungen begins 2011 2010 Change in % Sales by region | IN € mIllIoN standard iv solutions is produced in the LiFe facility. operations, to coincide with the start of a new training Shipping that quantity would require 29,000 trucks, class. B. Braun has invested approximately € 6.5 million Gross Margin (in %) 46.4 47.1 Germany 915 which, if placed end to end, would measure 522 kilometers, in the center. Net Margin after Taxes (in %) 5.5 6.3 europe & Africa 1,784 approximately the same distance between the German eBiTDA (in € million) 688.5 700.5 – 1.7 cities of Kassel and Munich. The offices of B. Braun‘s newly established subsidiary Asia & Australia 691 (excluding Germany) eBiTDA Margin (in %) 14.9 15.8 2011 open in Belgrade, Serbia. The new company is called At our Timisoara location in romania, a ceremony is held equity ratio (in %) 42.8 42.3 B. Braun Adria rSrB DOO. Latin America 311 to mark the expansion of the production facility for iv equity ratio including Loans from Shareholders (in %) 43.8 43.3 solutions. B. Braun invested € 4 million to expand the plant. North America 908 Net Financial Debt (in € million) 1,342.9 1,183.5 13.5 e Net Financial Debt/eBiTDA 2.0 1.7 totAl € 4,609,4 mIllIoN ANC investments in Property, Plant and equipment l 2 0 11 and intangible Assets (in € million) 541.4 575.4 – 5.9 S ApRIl Dr. Heinz-walter Große (center) becomes Chairman Sep temBeR B. Braun‘s Aesculap Division acquires t A G Sales by division | IN € mIllIoN t Depreciation and Amortization of Property, Plant and equipment of the Management Board succeeding Prof. Dr. h. c. Ludwig Aragon Surgical, an American firm active in the area IGH l Georg Braun, who is now Chairman of the Supervisory of high frequency surgical instruments. The company and intangible Assets (in € million) 252.9 238.2 6.2 IGH Board. Dr. Annette Beller and Otto Philipp Braun are ap- specializes in electrosurgical solutions for tissue cutting OPM 568 R A U N A Personnel expenditures (in € million) 1,648.9 1,581.7 4.2 H pointed to the Management Board. and fusion (cut & seal). employees (as of December 31, 2010) 43,676 41,322 5.7 B . B B. Braun Avitum 501 Hospital Care 2,159 Other 25 2011 Aesculap 1,356 income structure totAl € 4,609,4 mIllIoN JUNe Construction of a new production plant for dia- oC toBeR German Chancellor Angela Merkel dedicates 2011 2010 Change in % lysis solutions in Glandorf, Germany commences with a B. Braun‘s new factory in Hanoi, vietnam. B. Braun has € million % € million % symbolic ground-breaking ceremony. in total, B. Braun invested € 32.6 million in new production facilities there Sales 4,609.4 100.0 4,422.8 100.0 4.2 is investing approximately € 50 million in this location. for the manufacture of iv sets. Cost of Goods Sold 2,471.2 53.6 2,341.7 52.9 5.5 employees Gross profit 2,138.3 46.4 2,081.1 47.1 2.7 Selling expenses 1,277.2 27.7 1,218.9 27.6 4.8 employees by region General and Administrative expenses 230.9 5.0 221.6 5.0 4.2 13,194 12,645 research and 12,000 11,498 10,907 10,479 Development expenses 179.9 3.9 155.4 3.5 15.7 9,261 Interim profit 450.3 9.8 485.2 11.0 – 7.2 9,000 Other Operating income and expenses – 18.2 – 0.4 – 29.0 – 0.7 – 37.4 6,000 5,486 5,411 operating profit 432.2 9.4 456.2 10.3 – 5.3 3,023 3,094 Net Financial income (Loss) – 72.0 – 1.6 – 66.6 – 1.5 8.2 3,000 profit before taxes 360.2 7.8 389.6 8.8 – 7.6 income Taxes 104.4 2.3 112.3 2.5 – 7.0 Consolidated Annual Net profit 255.7 5.5 277.4 6.3 – 7.8 Germany europe & Africa North America Latin America Asia & Australia ( excluding Germany) DeC 31, 2010 totAl: 41,322 DeC 31, 2011 totAl: 43,676 B. BrAuN AT A GLANCe HiGHLiGHT S 2011 Key performance indicators Sales FeBRUARy The billionth „ecoflac plus“ container for AUGUSt The new training center in Melsungen begins 2011 2010 Change in % Sales by region | IN € mIllIoN standard iv solutions is produced in the LiFe facility. operations, to coincide with the start of a new training Shipping that quantity would require 29,000 trucks, class. B. Braun has invested approximately € 6.5 million Gross Margin (in %) 46.4 47.1 Germany 915 which, if placed end to end, would measure 522 kilometers, in the center. Net Margin after Taxes (in %) 5.5 6.3 europe & Africa 1,784 approximately the same distance between the German eBiTDA (in € million) 688.5 700.5 – 1.7 cities of Kassel and Munich. The offices of B. Braun‘s newly established subsidiary Asia & Australia 691 (excluding Germany) eBiTDA Margin (in %) 14.9 15.8 2011 open in Belgrade, Serbia. The new company is called At our Timisoara location in romania, a ceremony is held equity ratio (in %) 42.8 42.3 B. Braun Adria rSrB DOO. Latin America 311 to mark the expansion of the production facility for iv equity ratio including Loans from Shareholders (in %) 43.8 43.3 solutions. B. Braun invested € 4 million to expand the plant. North America 908 Net Financial Debt (in € million) 1,342.9 1,183.5 13.5 e Net Financial Debt/eBiTDA 2.0 1.7 totAl € 4,609,4 mIllIoN ANC investments in Property, Plant and equipment l 2 0 11 and intangible Assets (in € million) 541.4 575.4 – 5.9 S ApRIl Dr. Heinz-walter Große (center) becomes Chairman Sep temBeR B. Braun‘s Aesculap Division acquires t A G Sales by division | IN € mIllIoN t Depreciation and Amortization of Property, Plant and equipment of the Management Board succeeding Prof. Dr. h. c. Ludwig Aragon Surgical, an American firm active in the area IGH l Georg Braun, who is now Chairman of the Supervisory of high frequency surgical instruments. The company and intangible Assets (in € million) 252.9 238.2 6.2 IGH Board. Dr. Annette Beller and Otto Philipp Braun are ap- specializes in electrosurgical solutions for tissue cutting OPM 568 R A U N A Personnel expenditures (in € million) 1,648.9 1,581.7 4.2 H pointed to the Management Board.