Merck KGaA’s adjusted earnings boosted by strong dollar
2022.08.04 08:20
FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo
(Reuters) – Germany’s Merck KGaA saw adjusted earnings rise 13.1% in the second quarter as higher revenues from its biotech lab equipment and its chemicals for semiconductor production were further bolstered by a strong U.S. dollar.
Second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose to 1.78 billion euros ($1.81 billion), surpassing the average estimate of 1.71 billion in an analyst poll posted on the company’s website.
As previously, the diversified group predicted growth of 5% to 9% in full-year adjusted EBITDA, excluding the effect of currency swings and any acquisitions, but it said foreign exchange effects would be more favourable than previously forecast.
($1 = 0.9838 euros)
