Merck KGaA : Factor in Life Sciences with slower finish, Electronics weakness to last longer
>Q4 preview – Ongoing weak momentum - Q4 revenues of € 5,131m (-9.3% y-o-y) should be impacted by an organic decline of -3.8% and forex headwind of 550bp. Within the divisions, we see the strongest decline coming from Life Sciences with an organic decline of 12.1% on the back of ongoing destocking. We forecast Electronics to decline by 4.3% organically on the back of a weak semiconductor market. On the other hand, Healthcare is expected to grow with a strong 7.0% in t...Merck is a global science and technology company based in Germany. Co. diversifies its activities into four business divisions: Merck Serono, Consumer Health, Performance Materials and Merck Millipore. The Merck Serono develops, manufactures and markets prescription drugs to treat cancer, multiple sclerosis, infertility, growth disorders, and selected cardiovascular and metabolic diseases. The Consumer Health manufactures and markets over-the-counter drugs addressing health themes such as mobility, women's and children's health, cough and cold. Performance Materials is a specialty chemicals business. The Merck Millipore is the supplier of products and services for the life science industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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