DARMSTADT, Germany, March 7 (Xinhua) -- Germany's leading science and technology company Merck Group on Thursday reported an overall sales decrease in 2023, but expected a gradual return to growth this year.
Merck's sales fell by 5.6 percent to 21 billion euros (22.98 billion U.S. dollars) in the 2023 financial year. Its earnings before interest, taxes, depreciation and amortization as well as adjustments (EBITDA pre) slumped by 14.2 percent to 5.9 billion euros, the company said in its annual report.
Its 2.7-percent growth in the healthcare business sector, however, partially offset the market-related declines in sales and earnings in life science and electronics, it said.
The company predicted the healthcare sector will continue to drive earnings growth this year.
Belen Garijo, chair of the executive board and chief executive officer, said Merck Group delivered solid results in a transitional year despite difficult market conditions. This year, she said the company will be "fully focusing on gradually returning to growth."
Highlighting China as a strategic market, Garijo expressed satisfaction with Merck's performance and market position there, noting the world's second-largest economy is full of development opportunities.
She said Merck has been operating in China for over 90 years, engaging in the healthcare, life science and electronics sectors.
"Our strategy is to continue investing in China and to grow our business here," she said, underlining Merck's long-term commitment and strategic emphasis on the Chinese market.
Founded in 1668, Merck is headquartered in the German city of Darmstadt. (1 euro = 1.09 U.S. dollar)
