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