07 March 2013 07:04 [Source: ICIS news]
SINGAPORE (ICIS)--Germany’s Merck Group said on Thursday its net income more than doubled to €271.8m ($353m) in the fourth quarter of 2012 from €132.9m in the same period in 2011, boosted by operational performance and one-off positive effects on income tax.
The company’s total revenues rose by 8% year on year to €2.83bn in the fourth quarter, while earnings before interest, tax, depreciation and amortisation (EBITDA) pre one-time items was up by 16.1% at €789.8m, the company said in a statement.
For the full year of 2012, the company’s net income slipped by 6.6% year on year to €566.7m, while total revenue was up by 8.7% at €11.2bn.
Its EBITDA pre one-time items was up by 8.9% at €2.96bn in 2012.
The company’s revenues are expected to grow at a moderate pace in both 2013 and 2014, the company said.
“At group level, EBITDA pre one-time items (EBITDA pre) will increase faster than sales as a result of net cost savings realized from the group-wide restructuring program,” it said.
“With one-time costs peaking in 2012, this should lead to a significant increase in net income in 2013 and 2014,” Merck added.
($1 = €0.77)
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