By: IPP Bureau
Last updated : November 14, 2025 11:23 am
Merck KGaA, a global science and technology company, eported solid organic growth in the third quarter of 2025, demonstrating resilience amid geopolitical uncertainty and unfavorable currency effects. The company confirmed its full-year guidance for 2025.
Group net sales rose 1.0% year-on-year to €5.3 billion. Organic growth of 5.2% offset a 4.9% negative currency impact. EBITDA pre increased 3.1% to €1.7 billion, driven by 8.8% organic growth, outweighing foreign exchange headwinds of 6.5%. The EBITDA pre margin expanded 0.7 percentage points to 31.4%, aided by favorable one-time effects, including local legislative changes in South America and the sale of a U.S. FDA priority review voucher. Pre-tax earnings per share remained steady at €2.32 (Q3 2024: €2.30).
“We delivered solid organic growth across all three business sectors, illustrating the resilience of our diversified portfolio,” said Belén Garijo, Chair of the Executive Board and CEO. She highlighted recent U.S. agreements expanding access to fertility treatments and excluding pharmaceutical products from Section 232 tariffs, contingent on investments in U.S. biopharmaceutical manufacturing and research.
The Life Science business achieved net sales of €2.2 billion, up 1.4% year-on-year. Process Solutions drove growth with 10.3% organic sales increase, benefiting from strong demand across the pharmaceutical production value chain. Science & Lab Solutions grew organically by 2.5% but faced a slight net sales decline due to currency effects. Life Science Services reported 5.2% organic growth, though overall sales fell slightly.
Healthcare net sales reached €2.2 billion, up 3.2% year-on-year, fueled by Rare Diseases and the Cardiovascular, Metabolism & Endocrinology (CM&E) portfolio. Rare Diseases, including Ogsiveo and Gomekli from the SpringWorks Therapeutics acquisition, contributed 4.0% portfolio growth. Mavenclad sales jumped 20.4%, while Erbitux rose 10.3%. The CM&E franchise saw strong demand for Euthyrox (up 9.6%) and Saizen (up 21.4%). EBITDA pre declined 2.1% to €818 million due to currency impacts.
Electronics net sales totaled €875 million, down slightly due to the divestment of Surface Solutions. Organic growth of 4.8% was led by Semiconductor Materials, supported by strong AI-related demand. Optronics posted 2.9% organic growth, boosted by the Unity-SC acquisition. EBITDA pre remained stable at €236 million.
Merck KGaA confirmed full-year 2025 guidance, projecting net sales of €20.8–21.4 billion and EBITDA pre of €6.0–6.2 billion. The company expects pre-tax earnings per share of €8.20–8.60, with organic net sales growth of around 3% and organic EBITDA pre growth of 5–7%.