Merck KGaA Cuts 2023 Outlook on Inventory, Semiconductor Woes
03 Agosto 2023 - 12:55AM
Noticias Dow Jones
By Cecilia Butini
Merck KGaA on Thursday cut its outlook for the full year due to
high inventory levels of customers in its Life Science business and
delayed recovery in the semiconductor materials market, although it
confirmed its mid-term objectives.
The Germany-based health-care and technology company also posted
declining earnings and sales for the second quarter, though these
came in slightly above expectations.
Merck said it now expects 2023 sales to be between 20.5 billion
euros ($22.42 billion) and EUR21.9 billion, down from its previous
guidance of EUR21.2 billion to EUR22.7 billion. Ebitda pre, an
important earnings metric for the company, is expected to decline
up to 9% and be in a range of EUR5.8 billion to EUR6.4 billion,
having previously been seen between EUR6.1 billion and EUR6.7
billion.
In the second quarter, profit after tax declined to EUR706
million from EUR870 million on sales which fell to EUR5.30 billion
from EUR5.57 billion, the company said. Ebitda pre declined to
EUR1.55 billion from EUR1.78 billion. Analysts polled by FactSet
had expected slightly lower figures.
The company cited foreign-exchange headwinds as contributing to
the decline in sales in the quarter, and also as one further reason
for the guidance cut.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 03, 2023 01:40 ET (05:40 GMT)
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