Merck KGaA’s earnings beat consensus on lab tools, drug gross sales By Reuters

By Ludwig Burger

FRANKFURT (Reuters) – German healthcare and chemical substances group Merck KGaA on Thursday reported better-than-expected quarterly earnings on greater revenues from prescription drugs and biotech lab tools in addition to tailwinds from a robust U.S. greenback and .

Third-quarter earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose 16.7% to 1.81 billion euros, surpassing the common estimate of 1.78 billion euros in an analyst ballot on the corporate’s web site.

The diversified group narrowed its full-year goal vary for adjusted EBITDA to between 6.80 billion and seven.20 billion euros, the place it had beforehand forecast 6.75 billion to 7.25 billion.

Merck mentioned the outlook for its life science unit, which makes substances and kit for drugmakers, had brightened additional.

Nonetheless, the electronics unit is now anticipated to see earnings fall as a lot as 10%, when adjusting for forex swings, on a drop in demand for its liquid crystals utilized in flat screens.

Throughout the electronics unit, rising demand for chemical substances utilized by the semiconductor business confirmed no signal of letting up, it added.

Chief Government Belen Garijo informed Reuters final month that she doesn’t anticipate {that a} projected decline in smartphone gross sales this yr would weigh on its semiconductor chemical substances enterprise any time quickly.