Merck KGaA FY23 Results Down, Dividend Stable; Sees Return To Organic Growth In FY24

(RTTNews) - German science and technology major Merck KgaA (MKGAY.PK) Thursday reported that its fiscal 2023 profit after tax fell 15.1 percent to 2.83 billion euros from last year's 3.34 billion euros.

Earnings per share were 6.49 euros, down 15.2 percent from last year's 7.65 euros.

On an adjusted basis, earnings per share pre were 8.49 euros, compared to last year's 10.05 euros. EBITDA pre fell 14.2 percent year-over-year to 5.88 billion euros, EBITDA margin pre dropped to 28 percent from 30.8 percent last year.

Net sales for the year declined 5.6 percent to 20.99 billion euros from 22.23 billion euros a year ago. Group net sales decreased 1.6 percent organically.

Further, the Executive Board and Supervisory Board will propose to the Annual General Meeting on April 26 a dividend of 2.20 euros per share, same as last year.

Looking ahead for fiscal 2024, Merck expects return to organic growth with slight to moderate organic growth in sales and EBITDA pre, with Healthcare as the main driver.

Belen Garijo, Chair of the Executive Board and CEO of Merck, said, "Now, we are fully focusing on gradually returning to growth during fiscal 2024, while defining our strategic roadmap to ensure long term profitable and sustainable growth for Merck."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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