Merck KGaA’s lab supplies unit sees Q3 EBITDA jump 30.7%

1 min read
FILE PHOTO: The logo of German pharmaceuticals company Merck is seen at the company's headquarters in Darmstadt

FRANKFURT – Germany’s Merck KGaA said its Life Science unit, which supplies materials and gear to makers of vaccines and drugs, saw adjusted earnings jump 30.7% in the third quarter, driven by demand related to COVID-19.

Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, for the division reached 824 million euros, the diversified group reported on Thursday.

In an unscheduled release last week, Merck raised its full-year profit forecast, citing very strong performance at its Life Science unit, and published forecast-beating group earnings for the quarter.

(Reporting by Ludwig Burger)

tagreuters.com2021binary_LYNXMPEHAA08W-BASEIMAGE

Related News:   EY Germany to make structural changes in cost-reduction push