Merck KGaA improves guidance with strong third quarter results

14 November 2013

Germany’s Merck KGaA (MRK: DE) has posted solid organic revenue growth of 4.7% for the third quarter of 2013, resulting in the company raising its full-year guidance. The company’s shares rose 2.7% to 125.18 euros on the news in early trading this morning.

Earnings before interest, tax, depreciation and amortization (EBITDA) pre one-time items increased significantly by 10% in spite of headwinds from foreign exchange effects so that the guidance could be increased to a range between about 3.2 billion euros ($4.3 billion) and 3.25 billion euros as part of the company’s transformation program “Fit for 2018.”

“This repeatedly strong result illustrates once again that the transformation of our company is well on track. Merck is already stronger today and more profitable than when it started the change process a few years ago,” said Karl-Ludwig Kley, chairman of the executive board. “We’re now focusing on leveraging the substantially stronger platform to further develop our business in a sustainable and profitable manner,” he added.

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