Competitive Cost Structure General and Administration Costs
Selling and Distribution Costs
15%
1 200
20%
4 000
1 000
14%
13% 10%
10% 10%
3 000
663 596 2 000
467 506
692
800
341
5%
826
0%
275
199
6%
-5%
400
4%
4%
1355
1366
1410
1427
200
-20% 2009 organic
Marketing
2009
Labour costs
436
436
-15%
0 2010 organic
2010
Other
As % of sales
551
3%
-10%
1 000
9%
198 600
512 586
12%
15%
551
3% 3%
0%
0 2009 organic
2009
Labour costs
2010 organic
Other
2010
As % of sales
Pharmstandard held SG&A costs less 13% of Total Sales 2009 Business & 2010 Financial Conference call: and Results 1Q2011Presentation Sales Results (28.04.11) Source: Company data, IFRS FS
13