Q2 2024 Merck KGaA Earnings Call Transcript
Key Points
- Merck KGaA (MKGAF) reported a strong second quarter, significantly beating expectations.
- Healthcare division showed excellent performance with a 5% organic sales growth, driven by CM&E and oncology franchises.
- Electronics division achieved 8% organic sales growth, driven by semiconductor solutions.
- Merck KGaA (MKGAF) returned to organic and reported sales growth in Q2.
- The company upgraded its full-year 2024 guidance for net sales, EBITDA pre, and EPS pre.
- The termination of the Xevinapant program was a significant low point for the quarter.
- Life Science division experienced a 4% organic sales decline, still impacted by COVID-related sales headwinds.
- Reported EBITDA pre decreased by 3%, affected by currency headwinds and the Xevinapant termination provision.
- Healthcare's NNI franchise saw a 7% organic decline, with Mavenclad growth muted due to high prior-year comparisons.
- Electronics' EBITDA pre margin declined by 240 basis points year-on-year, partly due to the absence of a one-time patent agreement benefit from the previous year.
Dear ladies and gentlemen, welcome to the Merck investor and analyst conference call on the second quarter 2024. (Operator Instructions)
I am now handing over to Constantin Fest, Head of Investor Relations, who will lead you through this conference. Please go ahead, sir.
Thank you very much, Heidi, and a very warm welcome from my side to this Merck Q2 2024 results call. My name is Constantin Fest. I'm Head of Investor Relations here at Merck.
And I'm delighted to have today here with me Belén Garijo, the Group CEO; as well as Helene von Roeder, Group CFO. Also, joining for the Q&A part of this call, we have Matthias Heinzel, CEO of Life Science; as well as Peter Guenter, CEO of Healthcare; and Kai Beckmann, CEO of Electronics.
In the first few minutes of this call, we would like to guide you through the key slides of this presentation. After that, we'd be happy to take all of your questions.
With this, we are ready to directly start, and I'd like to now hand
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