World Merck restarts the bar again higher
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Zurich (Reuters) - The Darmstadt Pharmaceutical and Life Science Group Merck dares more sales and profit after a strong second quarter of 2021 than previously overlooked. The booming business with products for vaccine and drug production, as well as cancer and fertility cars provided a strong growth thrust. The board therefore increases its annual forecast for the second time in a row. "We had a very strong quarter and we surpassed our own expectations," said Board Chef Belen Garijo on Thursday. This also applies if you hide the pandemic weakness of the same quarter of the previous year.
For the full year, Garijo now set organic sales growth from twelve to 14 percent to 18.8 to 19, 7 billion euros in view. Adjusted operating profit (EBITDA) should attract 21 to 25 percent to 5.6 to six billion euros. Garijo justified the stronger profit increase with an intensified cost discipline. Negative currency effects are likely to minimize organic growth by two to four percent. Merck pokes 7.80 to 8.50 euros earnings per share.
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In the second quarter, sales revenues increased by 18.2 percent to 4.87 billion euros compared to the previous year. Negative currency effects, growth was even 23 percent. The Group achieved double-digit growth rates in all three business areas. Adjusted EBITDA highly opened 46.7 percent to 1.58 billion euros. The bottom line was 747 million euros more than twice as much gain as a year before.
Less sales contribution of pipeline products
more cautious than most recently, Garijo showed for the Healthcare division next year: New products in the development pipeline are likely to contribute 2022 between 1.6 and 1.8 billion euros in sales and thus less prospect. "Of course, there is air up if it allows the conditions," said the Merck's Chef. Optimistic falls the prospects for the Life Sciences division, where also in the coming year with significant pandem-related sales is expected. The Process Solutions business is likely to achieve at least 700 million euros in sales and thus expected more than last. In the Electronics division, Garijo continues to focus on a strong development of the semiconductor market.
On the stock market, the better profit prospects came well with investors. With a course plus of 4.3 percent, Merck shares were among the largest winners among European health. Merck has better cut off than expected and raised the targets more than anticipated, the analysts of JP Morgan explained.
(Reporter: Paul Arnold, edited by Ralf Banser. If you have any questions, please contact the editorial management at the telephone numbers +49 30 2301 33711 (for politics and economic stimulus) or +49 30 23702 (for companies and markets)
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