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Merck KGaA’s lab supplies unit sees Q3 EBITDA jump 30.7% -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is the logo of Merck Pharmaceuticals, a German pharmaceuticals firm, seen at its headquarters in Darmstadt on May 16, 2016. REUTERS/Kai Pfaffenbach

FRANKFURT, (Reuters) – Germany’s Merck KGaA reported that its Life Science unit which supplies material and equipment to manufacturers of drugs and vaccines, witnessed adjusted earnings rise by 30.7% during the third quarter. This was due to increased demand for COVID-19.

Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, for the division reached 824 million euros, the diversified group reported on Thursday.

Merck released its full-year profit outlook last week in an unusual release. It cited the company’s Life Science unit’s strong performance and reported forecast-beating earnings for the quarter.

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