Merck KGaA : Q2 2023 review – Life sciences drove guidance cut, Healthcare strong
>Q2 review – in line with expectations, guidance cut as expected - Q2 2023 revenues of € 5,302m (-4.8% y-o-y) were in line with ODDO BHF/consensus. Organic growth was -1.1%, which compares to our -1.5% estimate. The forex headwind was 320bp. EBITDA pre of € 1,553m (-12.9% y-o-y, margin 29.3%) was 2% better than ODDO BHF and 4% ahead of consensus estimates. Core EPS of € 1.62 was -2%/2% vs expectations. The company cuts its FY 2023 guidance to sales of € 20.5-21.9bn (f...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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