Merck KGaA adjusted 1st-qtr earnings leap 19%, beating forecasts

Shares of Germany’s Merck KGaA out on 1.9% to 124.52 euros this morning (May 14), after the company reported first-quarter 2013 results showing a 4% increase in sales to 2.7 billion euros ($3.5 billion), driven by 3.5% growth in its pharma unit Merck Serono to 1.55 billion euros, a 9.0% rise in Performance materials to 421 million euros, 2.5% growth in Millipore sales to 669 million euros, and 7.9% growth in consumer health to 108 million euros.

Earnings before interest, tax, depreciation and amortization (EBITDA) pre one-time items (totaling 47 million euros, including 42 million euros related to the "Fit for 2018" efficiency program) rose 19% to 801 million euros, beating the 787 million euros expected on average by analysts in a Reuters poll. EBIT increased 29% to 399 million euros translating into earnings per share of 1.22 euros. EPS pre one-time items grew 27% to 2.11 euros.