Merck KGaA's Priority Is to Pay Down Debt, Says Kuhnert
Merck KGaA reported a 24 percent jump in third-quarter profit aided by a previous acquisition and boosted its earnings forecast for the year on lower-than-expected research costs in its health-care operations. Earnings before interest, taxes, depreciation and amortization and excluding some costs is now expected to reach 4.45 billion euros ($4.78 billion) to 4.6 billion euros from the previous forecast of 4.25 billion euros to 4.4 billion euros, the Darmstadt, Germany-based company said in a statement on Tuesday. Its sales forecast for the year remained unchanged at 14.9 billion euros to 15.1 billion euros. CFO Marcus Kuhnert discusses with Matt Miller in Berlin and Guy Johnson in London on "Bloomberg Markets: European Open."