Merck KGaA announced that it expects higher profits and sales for 2022 as profits and revenues increased in the first quarter, thanks to the strong returns of the life sciences department.
The German pharmaceutical and chemical company announced profit after taxes of 884 million euros in the first quarter, higher 18% from 748 million euros a year ago.
Analysts expected a profit of 1.05 billion euros after taxes.
Net sales rose 12% to 5.20 billion euros, with organic growth observed in all business sectors. Economists expected sales to reach 5.09 billion euros.
EBITDA before emergencies increased 7.8% to 1.63 billion euros compared to 1.51 billion euros.
Merck KGaA announced that net sales for 2022 are expected at 21.6-22.8 billion euros compared to 19.69 billion. euros in 2021, while EBITDA before emergencies are estimated at 6.6-7.1 billion euros from 6.10 billion euros.
However, the forecast is subject to increased uncertainty and is based on the assumption that lockdowns in China will be short-lived and locally limited.
Source: Capital
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