Delivered on Full-Year Guidance
Merck delivered on its 2025 guidance with group net sales around stable at EUR 21.1 billion and group EBITDA pre of EUR 6.1 billion, corresponding to a margin of 28.9%.
Organic EBITDA Growth
Group EBITDA pre grew 5.6% on an organic basis for the full year 2025, indicating profitable growth despite headwinds.
Quarterly Momentum in Q4 2025
Q4 2025 organic group sales grew 2.6% and group EBITDA pre was up 3.1% organically, driven by contributions across all three sectors.
Life Science Recovery and Growth
Life Science returned to organic growth of 4% for 2025, with Process Solutions delivering double-digit organic growth; Life Science EBITDA pre rose 3.9% organically and maintained an EBITDA pre margin of 28.8%.
Strong Healthcare Performance
Healthcare net sales climbed 3.7% organically in 2025. CM&E grew 7% organically, and the sector delivered EBITDA pre of EUR 3.0 billion, up more than 11% organically. Fertility (Pergoveris) and Mavenclad showed double-digit growth in Q4.
Semiconductor Materials Strength in Electronics
Electronics’ semiconductor materials business achieved its strongest quarter in Q4 and delivered high single-digit organic sales growth for the year, benefiting from AI-driven demand and advanced nodes. The EUR 500 million Semiconductor Solutions megasite in Taiwan was inaugurated in December 2025.
Strategic M&A and Portfolio Moves
Completed the acquisition of SpringWorks (adding rare diseases as a strategic growth pillar), acquired Unity-SC (contributed to organic growth), announced sale of Surface Solutions to focus Electronics as a pure-play semiconductor solutions business, and acquired JSR chromatography and HUB Organoids to bolster Life Science capabilities.
Significant Capex and Site Investments
Invested over EUR 7 billion in more than 30 new and expanded sites worldwide in recent years, opened a EUR 100 million facility in Blarney (Ireland), and announced continued region-for-region investments supporting local operations.
Shareholder Return
Board to propose a stable dividend of EUR 2.20 at the Annual General Meeting, reflecting cash generation and capital allocation discipline.