Merck KGaA’s adjusted earnings boosted by strong dollar

Merck KGaA’s adjusted earnings boosted by strong dollar

Summary : Germany’s Merck KGaA (MRCG.DE) saw adjusted earnings rise 13.1% in the second quarter as higher revenues from its biotech lab equipment and its chemicals for semiconductor production were further bolstered by a strong U.S. dollar.

Second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose to 1.78 billion euros ($1.81 billion), surpassing the average estimate of 1.71 billion in an analyst poll posted on the company’s website.

As previously, the diversified group predicted growth of 5% to 9% in full-year adjusted EBITDA, excluding the effect of currency swings and any acquisitions, but it said foreign exchange effects would be more favourable than previously forecast.

Reporting by Ludwig Burger, editing by Rachel More

A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo

Aug 4 (Reuters) – Germany’s Merck KGaA (MRCG.DE) saw adjusted earnings rise 13.1% in the second quarter as higher revenues from its biotech lab equipment and its chemicals for semiconductor production were further bolstered by a strong U.S. dollar.Second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose to 1.78 billion euros ($1.81 billion), surpassing the average estimate of 1.71 billion in an analyst poll posted on the company’s website.As previously, the diversified group predicted growth of 5% to 9% in full-year adjusted EBITDA, excluding the effect of currency swings and any acquisitions, but it said foreign exchange effects would be more favourable than previously forecast.

Reporting by Ludwig Burger, editing by Rachel More

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