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