Merck KGaA : Q3 2023 review – Trough in Life Sciences
>Q3 review – in line with low expectations - Q3 2023 revenues of € 5,173m (-10.9% y-o-y) were in line with ODDO BHF/consensus. Organic decline was -4.1%, (ODDO BHF -6.2%). The forex headwind was 340bp. EBITDA pre of € 1,446m (-20.1% y-o-y, margin 28.0%) was 12% better than ODDO BHF and 4% ahead of consensus estimates. Core EPS of € 2.07 was 21%/7% vs expectations on a better financial result. The company reiterates its 2023 guidance on sales of € 20.5-21.9bn (ODDO BHF...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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