Germany's Merck flags decline in operating profit of up to 10% in 2023

By Ludwig Burger

FRANKFURT, May 11 (Reuters) - Germany's Merck KGaA MRCG.DE on Thursday warned that adjusted operating earnings could decline by as much as 10% this year as the outlook for its specialty chemicals business darkened.

The company said it was expecting between 6.1 billion euros ($6.71 billion) and 6.7 billion euros in 2023 earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs. That is down from 6.8 billion last year.

It had previously predicted a "moderate decline to an about stable development", before any currency swings.

Demand for Merck's semiconductor materials "is expected to recover in the second half of 2023, but at a later point and from a lower base than previously assumed", it said.

(Reporting by Ludwig Burger, Editing by Friederike Heine)

((ludwig.burger@thomsonreuters.com; +49 30 220133634;))