Merck KGaA quarterly adj EBITDA edges up on cost cuts
FRANKFURT, March 6 (Reuters) - Germany's Merck KGaA , the worlds largest maker of liquid crystals for display screens, reported an unexpected slight increase in adjusted core earnings, as it continued to benefit from a cost cutting programme.
Fourth-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) before one-off items edged 0.7 percent higher to 795.2 million euros ($1.09 billion), above the 784 million euros expected on average by analysts in a Reuters poll.
Merck said it expected adjusted EBITDA and revenues to be flat this year as the effect weaker overseas currencies is likely to offset a slight increase in organic sales. ($1 = 0.7278 euros) (Reporting by Ludwig Burger and Frank Siebelt)