Merck KGaA, Darmstadt, Germany reported a solid second quarter, with organic sales and earnings growth driven by Life Science and Electronics, even as reported profit declined and Healthcare posted an organic sales drop.
Group net sales rose to €5.4 billion from €5.3 billion, an organic increase of 4.1%, while EBITDA pre grew organically 9.3% to €1.6 billion and the EBITDA pre margin improved to 29.4% from 27.8%. Earnings per share pre climbed to €2.16 from €2.02. However, operating result (EBIT) fell 15.5% to €753 million and profit after income tax dropped 24.7% to €494 million, with reported earnings per share declining to €1.13 from €1.50. For the first half, profit after tax was down 16.6% and reported EPS down 17.2%.
Life Science net sales grew 6.4% to €2.4 billion, with Process Solutions delivering 14.7% organic growth. Electronics generated strong 11.7% organic growth, led by Semiconductor Solutions, but reported net sales slipped to €871 million due to FX and the divestment of Surface Solutions. Healthcare net sales increased modestly to €2.2 billion, but organically declined 3.4%, and EBITDA pre in Healthcare fell 4.6%, reflecting a 5.7% organic decline amid higher R&D spending. Specialty Care sales dropped organically 5.8%, including a 10.2% organic decline in Mavenclad amid U.S. generic competition.
Merck upgraded its 2026 guidance, now targeting net sales of €21.0–€21.8 billion and EBITDA pre of €5.9–€6.3 billion, implying 1–3% organic sales growth and 0–3% organic EBITDA pre growth. The outlook assumes no Mavenclad sales in the U.S. from August 2026 and excludes potential Pergoveris commercialization in the U.S. The company also highlighted its planned acquisition of Bio-Techne as a key strategic move to bolster Life Science.
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