Merck KGaA Shares Jump on Expected Return to Sales Growth in 2024
19 Outubro 2023 - 5:22AM
Dow Jones News
By Adria Calatayud
Shares of Germany's Merck KGaA rose after the company forecast a
return to organic sales growth next year, supported by recovering
demand for semiconductor materials and abating Covid-19
headwinds.
At 0749 GMT on Thursday, Merck's shares traded 5.4% higher at
EUR153.40.
The life-sciences and electronics group confirmed it expects a
broadly stable top-line performance this year, with sales ranging
from a 2% fall to a 2% rise and resulting in total net sales of
20.5 billion euros and 21.9 billion euros ($21.60 billion-$23.08
billion).
Analysts polled by FactSet expect Merck's sales to be EUR21.33
billion this year, growing to EUR22.46 billion in 2024.
Merck said weakening Covid-19 sales should be less of a headwind
next year than in 2023 for its life-sciences segment, while the
semiconductor-material market served by its electronics segment is
expected to recover incrementally in 2024.
The company also reiterated medium-term targets for its division
and said exposure to structural trends give it confidence in
continuing to grow beyond 2025.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 19, 2023 04:07 ET (08:07 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Merck KGAA (TG:MRK)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Merck KGAA (TG:MRK)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
