150504_Heraeus_FB_14_EN_WEB_rgb_A_1b - Group management report

Group management report. Overall, 2014 was a satisfactory year for Heraeus: The challenging economic environment, the ongoing price pressure in several markets, and unfavorable currency effects had an adverse impact on our business situation and financial performance. We registered positive trends in the Biomaterials and Medical Products business group and Sensors business group. Overall product revenue, adjusted for the effects of precious metal prices, was roughly the same as last year while, as expected, net income was well below the 2013 figure, which had been boosted by the proceeds from a disposal.

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