FRANKFURT Aug 12 Germany's Merck KGaA
, the world's largest maker of liquid crystals for
display screens, said quarterly underlying core earnings edged
up 2.3 percent thanks to a recent takeover, though the gain was
tempered by the strong euro.
Second-quarter earnings before interest, taxes,
depreciation, amortisation (EBITDA) and one-off items rose to
846 million euros ($1.13 billion), above the 834 million euros
expected on average by analysts in a Reuters poll.
Merck said on Wednesday it still expected adjusted EBITDA of
3.3-3.4 billion euros in 2014, up from 3.25 billion last year,
including the acquisition of Britain's AZ Electronic Materials
for $2.6 billion, which it wrapped up in May.
The family-controlled company, which traces its roots to a
17th century pharmacy, said the acquisition resulted in a 3
percent sales increase in the April-to-June quarter, countered
by a negative effect of 4.5 percent from the strong euro, which
lowered the value of overseas sales.
($1 = 0.7483 euro)
(Reporting by Ludwig Burger; Editing by Maria Sheahan)