2023-11-09 06:00:00
Diversified German group Merck KGaA reported a 20% drop in quarterly operating profit due to weak demand for specialty materials used in the manufacture of biotechnology drugs and semiconductors.
Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for one-off items, fell to 1.45 billion euros ($1.55 billion) in the third quarter, slightly above estimate analyst average of $1.39 billion published on the company’s website.
Last month, Merck discussed the possibility of returning to revenue growth next year as it recovers from a collapse in demand for its specialized materials for producing biotechnology drugs and semiconductors. drivers. ($1 = 0.9340 euros) (Reporting by Ludwig Burger; Editing by Miranda Murray)
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