In addition, since Hoechst has been a sub-group of Aventis S.A. since the end of 1999, the report reflects the principles used by the Aventis Group to prepare its accounts. The previous year's figures now reflect the elimination of discontinued operations, specifically Hoechst Roussel Vet, which was divested, and Celanese, which was spun off. Sales by Hoechst Pharma rose by 12 percent on a currency-adjusted basis. Before structural changes due to the divestment of the welding and cutting business and before currency effects, Messer posted a 9 percent increase in sales. The consolidated sales of the Hoechst Group no longer include the business activities of Hoechst Agro, which has been accounted for under the equity method since the beginning of the year.
Pretax profit consists of operating profit and the non-operating result.
The decrease was mainly the result of one-time expenses incurred by Hoechst Pharma. In addition, the performance of Hoechst Agro is no longer reflected in operating profit. Instead, only the amount attributable to Hoechst is now included in the non-operating result. The increase was due mainly to spending by Hoechst Pharma.