FRANKFURT, May 14 (Reuters) – Germany’s Merck KGaA , which is taking over U.S. electronic chemicals maker Versum Materials, said it expected a slight tailwind from foreign exchange effects supporting earnings growth this year.
Merck on Tuesday confirmed its guidance for an underlying increase of 10-13% in 2019 earnings before interest, taxes, depreciation and amortisation (EBITDA) and adjusted for one-off items but now sees a positive effect of 0% to +2% from currencies.
It had previously seen a 3-4% drag from foreign exchange effects.
First-quarter EBITDA, adjusted for special items, slipped 4% to 929 million euros ($1.04 billion), below the average analyst estimate of 944 million in a Reuters poll.
($1 = 0.8898 euros)
Reporting by Ludwig Burger Editing by Thomas Seythal
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