By Cecilia Butini 
 

Merck KgaA said Thursday that third-quarter earnings declined slightly on year, though sales increased, and confirmed a raised guidance for 2021 it had previously given.

The German pharmaceuticals-and-chemicals company posted earnings before interest, taxes, depreciation and amortization of 1.50 billion euros ($1.72 billion) for the quarter, down from EUR1.62 billion the year prior. After-tax profit also declined to EUR764 million from EUR806 million for the same period of 2020. Ebitda pre--a closely watched metric that excludes some one-time items--declined to EUR1.55 billion from EUR1.70 billion, which the company said was due to the impact of a provision reversal in the third quarter of 2020.

Merck confirmed that sales for the period grew to EUR4.97 billion from EUR4.45 billion in the third quarter of 2020, as it has previously communicated in an update.

It also confirmed the raised guidance it recently gave, saying that it expects organic growth of 13% to 15% for the full year, up from a previous forecast of 12% to 14% organic growth. As previously indicated, full-year sales are expected to be in the range of EUR19.3 billion to EUR19.85 billion, while Ebitda pre is expected to increase between 26% and 29% in teh full year, Merck said.

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

November 11, 2021 01:55 ET (06:55 GMT)

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