March 8, 2018 / 6:13 AM / 5 months ago

Merck KGaA Q4 core profit dragged lower by Chinese competition

DARMSTADT, Germany, March 8 (Reuters) - Germany’s Merck KGaA quarterly adjusted core earnings slipped 6.5 percent, held back by a strong euro and intense competition from China for its liquid crystals used in flat screens.

Merck’s fourth-quarter adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1.0 billion euros ($1.24 billion), broadly in line with market expectations .

On a currency-adjusted basis, drugs and chemicals maker Merck said it was expecting a slight decline in adjusted EBITDA in 2018. It sees unfavourable foreign exchange rates as having a 4-6 percent negative impact on the earnings number.

$1 = 0.8061 euros Reporting by Patricia Weiss Writing by Ludwig Burger Editing by Edward Taylor

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