DARMSTADT (dpa-AFX) - Growth in the pharmaceuticals and semiconductor materials business is supporting the Darmstadt-based Merck Group. In the second quarter, sales rose by one percent to a good 5.3 billion euros. Merck was able to grow in particular with cancer drugs.

In its Electronics division, the DAX-listed company also benefited from a recovery in semiconductor materials for applications in the booming business with artificial intelligence - sales in the Semiconductor Solutions division rose by a double-digit percentage. By contrast, Merck once again had to cope with declining sales in the laboratory supplies business, where customers are holding back on orders and reducing inventories following the end of the coronavirus boom.

Drug hopeful against cancer failed

Overall, the adjusted operating profit (EBITDA pre) fell by 2.9 percent to around EUR 1.5 billion. Below the line, Merck achieved a profit of 605 million euros - 14.3 percent less than in the same period last year. This was impacted by a provision due to the recent failure of a promising cancer drug in clinical trials.

"We have announced that we will gradually return to organic growth in 2024. The second quarter shows that we are making good progress on this path," said Merck CEO Belén Garijo.

Merck recently somewhat more optimistic

Following a boom in vaccines during the coronavirus pandemic, Merck has recently had to contend with a lot of headwinds. In addition to the slump in the laboratory business, subdued demand for semiconductor materials also weighed on the company.

Recently, however, Merck was somewhat more optimistic and raised its targets for the current light year. Sales are expected to be between 20.7 and 22.1 billion euros. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA pre) are expected to reach 5.8 to 6.4 billion euros./als/DP/ngu