Merck KGaA: stock down slightly after Q2 results
(CercleFinance.com) - The Merck KGaA share is down almost 2% in Frankfurt after unveiling Q2 adjusted EPS (excluding extraordinary items) that is down 15.
6% at 1.30 euro, slightly missing the consensus, with adjusted EBITDA that is down 5.7% at 1.1 billion euros.
The German group's sales rose by 3.7% to 4.1 billion euros, but were down 2.5% organically, mainly due to the impact of the Covid-19 pandemic on its healthcare and performance materials businesses.
For FY 2020, Merck KGaA states that it now targets adjusted EPS of between 5.60-6.25 euros, adjusted EBITDA between of 4.45-4.85 billion euros and revenues of 16.9-17.7 billion euros.
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