Merck KGaA : Q4 review – Solid quarter, outlook fine
>In line with expectations on sales, but below consensus on bottom line - Q4 revenues of € 5,660m (+8.6% y-o-y) were 1%/0% vs ODDO BHF/consensus. Organic growth was 4.3%, which compares to our 5.7%. The forex tailwind contributed 390bp. Adj. EBITDA of € 1,628m (+11.2% y-o-y, margin 28.8%) was 1% better than ODDO BHF, but 4% below consensus’ estimates. Adj. EPS of € 1.51 was 2% below our estimate, but 6% below consensus.Healthcare again with strong momentu...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.