BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Merck (MKGAY.PK) said third quarter was another quarter of strong profitable growth for the company with all three business sectors and all regions contributing. The company's Big 3 growth engines performed superbly and enabled it to increase outlook for the full year 2021.
Third quarter EBITDA pre declined 8.7% to 1.6 billion euros due to the reversal of a provision in the year-earlier quarter. Excluding this effect, EBITDA pre would have increased by 16.2%, the company said. Organically, EBITDA pre declined by 10.9% due to the reversal of a provision in the year-earlier quarter. Earnings per share pre declined by 4.3% to 2.24 euros.
Operating result EBIT declined by 10.2% to 1.0 billion euros. Net income fell by 5.6% to 761 million euros. Earnings per share was 1.75 euros compared to 1.85 euros.
Group net sales increased by 11.8% to 5.0 billion euros. Group organic sales growth was 10.9% in the third quarter.
For fiscal 2021, Merck increased its forecast for EBITDA pre to 6.0 billion euros to 6.3 billion euros. Previously, the company expected EBITDA pre in a range of 5.6 billion euros to 6.0 billion euros. The company now expects an organic increase in EBITDA pre of 26% to 29%. Previously, it had forecast an organic increase of between 21% and 25%.
The company expects earnings per share pre to be in a range of 8.50 euros and 9.00 euros. Previously it had estimated earnings per share pre in a range of 7.80 euros to 8.50 euros.
For fiscal 2021, Merck increased its forecast for net sales to 19.3 billion euros to 19.85 billion euros. Previously, the company projected net sales of between 18.8 billion euros and 19.7 billion euros. The company has specified the forecast for net sales and now expects organic growth of 13% to 15%. Prior organic growth forecast was between 12% and 14%.
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