DARMSTADT (dpa-AFX) - After an unexpectedly long slump in demand, the pharmaceutical and specialty chemicals company Merck is hoping for a better run in 2024. "We are now focusing on a gradual return to growth in the course of the 2024 financial year," said CEO Belen Garijo in Darmstadt, Germany, according to a statement issued on Thursday. "At the same time, we are defining our strategic roadmap to ensure Merck's long-term and sustainable growth." In the current year, sales and earnings before interest, taxes, depreciation and amortization adjusted for special items (adjusted EBITDA) are expected to grow "slightly to moderately" under its own steam, the DAX-listed company added. However, Merck once again expects negative exchange rate effects to reduce growth.

Garijo described 2023 as a "transition year": Merck had to contend with a slump in demand in its laboratory business, which had flourished during the coronavirus pandemic. In addition, the Electronics division, in which the Group primarily manufactures semiconductor materials, also weakened for longer than expected. Group-wide turnover fell by almost six percent compared to the previous year to just under 21 billion euros. The adjusted operating result even fell by a good 14 percent to just under 5.9 billion euros. Merck thus met its own forecasts, which the Group had previously lowered. Analysts had expected slightly worse results. After tax, the Darmstadt-based company earned 2.83 billion euros, a good 15 percent less than in the previous twelve months./tav/stk