FRANKFURT (Reuters) - Germany's Merck KGaA saw adjusted core earnings decline 13.7 percent in the second quarter on lower revenues from liquid crystals used in flat screens and a strong euro weighing on the value of overseas sales.
Merck on Thursday reported 920 million euros (£831.84 million) in second-quarter adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), below market expectations of 960 million.
The chemicals and drugs maker said it expected adjusted EBITDA from continuing operations to decline to 3.75 to 4.0 billion euros in 2018, stripping out the consumer healthcare unit it has agreed to sell to Procter & Gamble for 3.4 billion euros.
That compares with 4.25 billion euros in 2017, excluding consumer health.
(Reporting by Ludwig Burger; Editing by Maria Sheahan)
Procter & Gamble Company is one of the world's leaders in producing and selling consumer products. Net sales break down by family of products as follows:
- care and hygiene products (38.3%): oral hygiene products (toothpastes, toothbrushes, mouthwashes, etc.; Crest, Oral-B, Scope brands, etc.), pharmaceutical products (Metamucil, Neurobion, Pepto Bismol, Vicks, etc.), toilet training pants (Luvs, Pampers), toilet papers and paper towels (Bounty, Charmin, Puffs), feminine protection products (Always, Always Discreet and Tampax), etc.;
- home care and laundry products (34.6%): dishwashing liquids, detergents, stain removers, fabric softeners, deodorizers, bleaches, etc. (Ariel, Downy, Gain, Tide Cascade, Dawn, Fairy, Febreze, Mr. Clean, Swiffer, etc.);
- beauty products (18.3%): hair care products (shampoos, colorings, and cream rinses; Head & Shoulders, Herbal Essences, Pantene and Rejoice brands), body care (soaps, shower gels, deodorants, etc.; Camay, Zest, Secret, Old Spice) and cosmetics (make-up and facial care; Max Facto, Covergirl and Olay);
- shaving products (7.8%): blades, razors, batteries, etc. (Braun, Gillette and Venus brands);
- other (1%).