Merck KGaA posts strong organic performance of healthcare
German pharma, science and technology company Merck KGaA (MRK: DE) today confirmed its forecast for fiscal 2023 despite a difficult market environment in the third quarter. Merck’s shares were up 5.6% at 156.30 euros following the announcement.
Group net sales decreased organically by 4.1% to 5,173 million euros ($5.54 billion) in the third quarter of 2023. While Healthcare delivered an organic sales increase of 7.4%, Life Science and Electronics recorded organic sales declines.
Despite the organic earnings growth of 17.2% in the Healthcare business sector, group earnings before interest, tax, depreciation and amortization (EBITDA) pre decreased organically by 13.2% to 1,446 million euros, slightly ahead of an average analyst estimate of 1.39 billion.
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