Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 76

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 76
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008 Depreciation 151 162 190 Amortization of intangible assets 863 864 812 Operating profit as a % of sales 24.9 % 26.6 % 34.3 % Depreciation as a % of sales 2.2 % 2.3 % 2.2 % Amortization as a % of sales 12.8 % 12.0 % 9.3 % Sales Decline and Core Sales Decline 2024 vs. 2023 2023 vs. 2022 Total sales decline (GAAP) (6.0) % (18.0) % Impact of: Currency exchange rates 1.5 % — % Core sales decline (non-GAAP) (4.5) % (18.0) % 2024 Sales Compared to 2023 Price increases in the segment contributed 2.5% to sales growth on a year-over-year basis during 2024 as compared with 2023 and are reflected as a component of core sales above. During 2024, total Biotechnology segment sales decreased 6.0% primarily as a result of decreased core sales in the bioprocessing business, and to a lesser extent the impact of currency exchange rates. Total segment core sales decreased across most major geographic regions, including weak demand in China as customers were cautious with their investments. Year-over-year core sales in the bioprocessing business decreased as core sales declines in the first half of the year more than offset core sales growth in the second half. The revenue decline in the first half of the year was primarily due to lower demand as customers reduced their inventory levels. The bioprocessing business returned to core growth in the second half of 2024 primarily driven by improved consumables demand, primarily in North America and Europe. Core sales in the discovery and medical business decreased year-over-year due primarily to lower demand for equipment, partially offset by an increase in demand for consumables. 38

Operating Profit Performance Operating profit margins declined 170 basis points during 2024 as compared to 2023. The following factors impacted year-over-year operating profit margin comparisons. 2024 vs. 2023 operating profit margin comparisons were unfavorably impacted by: • Lower 2024 core sales, reduced leverage in the segment’s operational and administrative cost structure and the impact of product mix, net of 2023 inventory write-offs - 245 basis points 2024 vs. 2023 operating profit margin comparisons were favor