Merck KGaA Raises 2021 Views After 'Very Strong' 1Q

By Olivia Bugault

Merck KGaA said late Tuesday that it has raised its outlook for 2021 after a "very strong" first quarter and high demand for its products that should continue this year.

The German pharmaceuticals-and-chemicals company said it now expects sales to come in roughly between 18.5 billion euros and 19.5 billion euros ($22.22 billion-$23.43 billion). That compares with a previous guidance of strong organic growth.

Merck KGaA's 2021 adjusted earnings before interest, taxes, depreciation, and amortization should stand roughly between EUR5.4 billion and EUR5.8 billion, it said. The company had previously guided for an organic growth in the percentage range of between the high single digits and the low teens.

Its 2021 adjusted earnings per share is expected approximately between EUR7.50 and EUR8.20, it said.

Merck KGaA's new guidance is based on the first quarter's good performance, with net sales at EUR4.63 billion and adjusted Ebitda of EUR1.51 billion, which compares with net sales of EUR4.37 billion and adjusted Ebitda of EUR1.18 billion a year earlier.

Merck KGaA said it plans to release full first-quarter results on May 12.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

May 05, 2021 01:54 ET (05:54 GMT)

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