Merck KGaA · XETR:MRK
Merck KGaA — Q1 2026 Earnings Presentation
18 slides from Merck KGaA's earnings presentation, May 2026
Slide 1: Solid Start to 2026
Solid Start to 2026 Merck Q1 2026 Results
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements and financial indicators This communication may include “forward-looking statements.” Statements that include words such as “anticipate,” “expect,” “should,” “would,” “intend,” “plan,” “project,” “seek,” “believe,” “will,” and other wor
Slide 3: Agenda: first-quarter performance, sector growth, guidance upgrade
1 Solid first-quarter performance 2 Solutions and Semiconductor Growth driven by Process Materials 3 Merck upgrades full year guidance 2026 3
Slide 4: Highlights: Process Solutions and Semi Materials Driving Growth
Highlights: Process Solutions and Semi Materials Driving Growth Operations Group Financials Q1 YoY organic sales growth Life Science: Q1 organic sales: +2.9% ▪ Accelerated PS growth (+16%) fuels LS performance (+8%) ▪ AS up 4%, slight growth in DS despite continued headwinds Q1 organic EBITDA pre: +
Slide 5: Asia-Pacific and Europe Drive Organic Growth, North America Stable
Asia-Pacific and Europe Drive Organic Growth, North America Stable Regional breakdown of net sales [€m] Regional organic development Europe +4.8% org. ▪ APAC: solid growth due to LS (PS) and EL 32% (Semi Solutions), supported by HC (Pergoveris®, CM&E) ▪ Europe: solid growth driven by LS (PS), North
Slide 6: Financial Overview
FInanCial OVePVICW PDARREK
Slide 7: Life Science: Strong Organic Growth Fueled by Acceleration in PS
Life Science: Strong Organic Growth Fueled by Acceleration in PS Life Science P&L Net sales bridge [€m] IFRS Pre €2,218 m 8.3% €2,266 m Q1 2025 Q1 2026 Q1 2025 Q1 2026 -6.0% -0.1% Net sales 2,218 2,266 2,218 2,266 M&S -555 -551 -554 -551 +0.0% Q1 2025 Organic Currency Portfolio Q1 2026 Admin -107 -1
Slide 8: Healthcare: CM&E and Rare Diseases Cushion N&I and Oncology
Healthcare: CM&E and Rare Diseases Cushion N&I and Oncology Healthcare P&L Net sales bridge [€m] IFRS Pre €2.114 m 4.4% €2.052 m Q1 2025 Q1 2026 Q1 2025 Q1 2026 -3.4% -4.0% Net sales 2,114 2,052 2,114 2,052 M&S -411 -433 -411 -419 Q1 2025 Organic Currency Portfolio Q1 2026 Admin -73 -98 -71 -85 R&D
Slide 9: Electronics: Solid Organic Growth Driven by Semi Materials
Electronics: Solid Organic Growth Driven by Semi Materials Electronics P&L Net sales bridge [€m] IFRS Pre €948 m 4.2% €817 m Q1 2025 Q1 2026 Q1 2025 Q1 2026 -7.5% -10.6% Net sales 948 817 948 817 M&S -142 -117 -139 -117 Admin -48 -41 -36 -34 Q1 2025 Organic Currency Portfolio Q1 2026 R&D -76 -69 -76
Slide 10: Outlook & Guidance
ouUCclOOK & Guidance PDARREK
Slide 11: Merck Group Full-year 2026 guidance
Merck Group Full-year 2026 guidance1 Net sales: Organic: 0% to +3% YoY FX: -3% to -1% YoY ~€20.4 – €21.4 bn EBITDA pre: Organic: -2% to +2% YoY FX: -5% to -2% YoY ~€5.7 – €6.1 bn EPS pre: ~€7.50 - €8.20 1 Excluding potential Pergoveris launch in US and assuming full generic erosion of Mavenclad in U
Slide 12: 2026 business sector guidance
2026 business sector guidance1 Net sales EBITDA pre Life Science ▪ Organic: +4% to +7% YoY ▪ Organic: +4% to +8% YoY ▪ FX: -3% to -1% YoY ▪ PF: ~+1% (~€20 m) YoY ▪ ~€9.1 bn to €9.5 bn ▪ FX: -4% to -1% YoY ▪ ~€2.6 bn to €2.8 bn Net sales EBITDA pre 2 Healthcare ▪ Organic: -6% to -3% YoY ▪ Organic: -1
Slide 13: Setting Course for Value Creation and Growth
Update on our long-term strategic direction SETTING COURSE FOR VALUE CREATION AND GROWTH
Slide 14: Merck is uniquely positioned to capture growth opportunities in a fast-changing world
Merck is uniquely positioned to capture growth opportunities in a fast-changing world Mega-trends with Our unique growth opportunities positioning 1 • Ability to operate at the intersections Biology, chemistry, and physics • Multi-disciplinary scientific expertise are converging • Strong network wit
Slide 15: Setting course for value creation and growth
Setting course for value creation and growth Where We Are Today The Opportunity How We Win Our Ambition A strong Differentiated value Develop portfolio and Unlock value creation foundation via convergence and AI increase company velocity and growth • A trusted brand with leading • Customer and patie
Slide 16: Four streams to develop our portfolio and increase company velocity
Four streams to develop our portfolio and increase company velocity 1 Focus on high-growth value drivers 2 Shift selected product portfolio toward integrated workflow solutions 3 Leverage platformed capabilities across businesses 4 Scale and source innovation via M&A and in-licensing 16 Merck Q1 202
Slide 17: Integrated solutions
Shift toward integrated, end-to-end offerings 1 2 34 in select high-value areas, enabled by platformed capabilities Existing Workflow Solutions examples Value chain of life science-related industries Heterogeneous Bioprocessing Integration Services Integrated solutions Single use Advanced Materials
Slide 18: Creating sustainable value & growth
From lab to customers and patients, Merck makes complex science real Creating Focus on Shift selected product 1 2 High-growth portfolio toward integrated sustainable value drivers workflow solutions value & growth Convergence of biology, chemistry, physics • by combining biology, chemistry, physics,