Annual Report 2021

Combined Management Report*

* The management report of Merck KGaA, Darmstadt, Germany, has been combined with the Group management report and published in the 2021 Annual Report of Merck KGaA, Darmstadt, Germany, as well as in the annual financial statements of Merck KGaA, Darmstadt, Germany. The management report also contains the combined non-financial (Group) statement of Merck KGaA, Darmstadt, Germany, which we issue pursuant to sections 289b – 289e and 315b – 315c HGB. The 2021 Annual Report is an additional, non-official publication, which does not comply with the requirements of the European Single Electronic Format (ESEF). The official annual financial report for fiscal 2021, prepared in accordance with the ESEF format, has been filed with the electronic German Federal Gazette (elektronischer Bundesanzeiger) and is available on the website of the German company register.

This combined management report contains certain financial indicators such as operating result (EBIT), EBITDA, EBITDA pre, net financial debt and earnings per share pre, 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 the company in isolation or used as an alternative to the financial indicators presented in the consolidated financial statements and determined in accordance with IFRSs.

The figures presented in this combined management report have been rounded. This may lead to individual values not adding up to the totals presented.

The Statement of Corporate Governance according to section 15d HGB in conjunction with section 289f (1) sentence 2 HGB is available at

For reasons of better readability, we do not use gender-specific formulations in this annual report. The chosen male form represents all genders.

Share this page: