Merck Q4 net income drops -52.1% to EUR 319 million

Reuters03-05 14:16
Merck Q4 net income drops -52.1% to EUR 319 million

Merck KGaA reported FY 2025 net sales of EUR 21.1 billion (-0.3%) and EBITDA pre of EUR 6.1 billion (+0.6%), with an EBITDA pre margin of 28.9% (up 0.2pp). EPS pre was EUR 8.34 (-3.4%). Operating cash flow was EUR 3.9 billion (-14.3%), and net financial debt was EUR 8.6 billion (+20.5%) as of Dec. 31, 2025, with net financial debt to EBITDA pre at 1.4x. Merck proposed a stable dividend of EUR 2.20 per share for 2025. In Q4 2025, net sales were EUR 5.2 billion (-3.1%) and EBITDA pre was EUR 1.4 billion (-3.2%), with the EBITDA pre margin stable at 27.5%. Q4 net income was EUR 319 million (-52.1%) and EPS was EUR 0.73 (-52.3%); Merck said EBIT fell mainly due to an impairment in Healthcare and other non-cash portfolio actions, while the financial result reflected higher interest costs following M&A. By sector in FY 2025, Life Science net sales were EUR 9.0 billion (+0.7% total), supported by Process Solutions growth (+11% organic) and book-to-bill comfortably above 1. Healthcare net sales were EUR 8.5 billion (+1.8% total), with SpringWorks adding a +2pp portfolio effect; Merck highlighted strong growth in CM&E and contributions from Mavenclad, Erbitux and Pergoveris. Electronics net sales were EUR 3.5 billion (-7.1% total), reflecting the Surface Solutions divestment and a trough in Delivery Systems & Services, partly offset by Semi Materials growth. For FY 2026, Merck guided for net sales of about EUR 20.0 billion to EUR 21.1 billion and EBITDA pre of about EUR 5.5 billion to EUR 6.0 billion, with EPS pre of about EUR 7.10 to EUR 8.00, assuming no U.S. sales of Mavenclad from March 2026 amid generic competition and excluding potential positive effects from a U.S. launch of Pergoveris.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Merck KGaA published the original content used to generate this news brief on March 05, 2026, and is solely responsible for the information contained therein.

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