Annual Report 2003 Aventis - Sanofi

Key Financials for 2003
Driving Profi tability through Sales Growth
and Enhanced Operational Effectiveness
In a challenging economic and political environment,
we are striving for sustainable growth driven
by our marketed products, our products in development
in key therapeutic areas, and by enhanced operational
effectiveness. We are thus focusing our efforts
on our strategic brands in order to maximize
their commercial potential and to optimize our product
mix. Additionally, we are expanding our sales
base in the U.S. Our research activities are focused on
selected disease areas for which we anticipate strong
growth potential and aim to maintain or achieve
sustainable leadership positions in these franchises.
K E Y F I N A N C I A L S F O R 2 0 0 3
Our core business comprises activities that we
consider to be strategic to the Group’s pharmaceutical
operations and intend to retain:
- Prescription drugs
- Human vaccines
- Our 50% equity interest in Merial (animal health);
accounted for under the equity method
- Corporate activities (mainly insurance entities)
In 2003, consolidated net sales decreased 13.6%
to e 17 815 million from e 20 622 million in 2002,
due mainly to the divestitures of Aventis Animal
Aventis Group – Statements of Operations (in e million, except per share information in e)
Net sales
Co-promotion income
Production costs and expenses
Selling, general and administrative expenses and other operating income (expenses)
Research and development
Restructuring expenses
Goodwill amortization
Operating income (loss)
Equity in earnings of affiliated companies
Interest (expense) income – net
Miscellaneous non-operating income and expenses – net
Income (loss) before taxes and minority interests
Provision for income taxes
Minority interests in net income of consolidated subsidiaries
Preferred remuneration
Net income (loss)
Average number of shares outstanding (in million shares)
Basic earnings (loss) per share in e
Basic earnings (loss) before goodwill amortization per share in e (1)
Operating income and equity in earnings of affiliated companies before goodwill amortization (1)
(1) These columns and lines are unaudited and non-GAAP
financial measures.
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