Merck KGaA Q4 opg 303.3 mln eur, beats forecasts on strong pharma, crystals ops |
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Published
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Thu, 18 Jan 2007 09:34
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(updating with divisional details)FRANKFURT (AFX) - Merck KGaA said its fourth quarter operating profit rose 58.2 pct to 303.3 mln eur from 191.7 mln eur a year earlier, well ahead of forecasts amid 'outstanding performances' in the company's ethicals, generics and liquid crystal divisions.The consensus of 14 analysts polled by dpa-AFX had been for operating profit of 269 mln eur.'The year 2006 was an outstanding time for Merck,' said CEO Michael Roemer, adding, 'Merck posted record figures on all result levels.'But the company added that it is 'too early' to specify a dividend for 2006 or an outlook for 2007.Merck - which is in the process of trying to sell its generics unit - said EBIT in the fourth quarter rose 35.9 pct to 192.2 mln eur.The company posted net profit after one-offs of 129.5 mln eur, up 18.2 pct.Group sales rose 9 pct to 1.625 bln eur, beating the consensus of 1.53 bln eur., with sales in generics up 9.2 pct at 479 mln eur.The company's Liquid Crystals unit of its Chemicals business posted its highest quarterly sales ever, rising 20 pct to 253 mln.Sales in the company's Ethicals unit tripled to 30 mln eur, due to strong sales of cancer drug Erbitux.Operating profits in the Consumer Health Care unit of its Pharmaceutical business dropped 28 pct to 8.9 mln eur, dur to increased R&D and marketing, sales and administration costs.Merck said its loss from financial operations widened 78 pct to minus 25 mln eur due to increased costs associated with the purchase of Serono shares.Merck completed its share purchase agreement with the Bertarelli family to take control of Serono on Jan 5.The company is to acquire Serono for 10.6 bln eur in a move to expand its range of drugs and share of the global biotechnology market.krysia.diver@afxnews.comkd/jmsCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Serono to drop out of SMI as of Feb 13 