Germany’s Merck Q1 profits double boosted by Sigma-Aldrich deal
Germany’s Merck on Thursday said first-quarter net profit more than doubled helped by the integration of US laboratory equipment maker Sigma-Aldrich.
The company reported net profit for the quarter ended March 31 of €591 million ($674.48 million), compared with €282 million a year ago.
Merck posted earnings per share of €1.36, against €0.65 a year earlier.
Chief Executive Stefan Oschmann said: “We started off 2016 well and have grown profitably. The integration of Sigma-Aldrich is progressing quickly and we are also right on target with our debt reduction. For 2016 we continue to expect slight organic growth for the Merck Group.”
Sales rose 21% to €3.67 billion, driven primarily by the integration of Sigma-Aldrich.
The Sigma-Aldrich deal worth $17 billion deal closed in November 2015.
Earnings before interest, taxes, depreciation and amortization (Ebitda) before exceptional items rose 27% to €1.08 billion, boosted by the strong performance of the health care and life sciences unit.
The company maintains its full-year outlook for sales of between €14.8 billion and €15 billion. Merck sees Ebitda before special items between €4.1 billion and €4.3 billion.
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