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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Strong euro weakens second-quarter sales and earnings

6:23 AM MDT | August 29, 2014 | CW Staff

Late-reporting Europe-based companies battled against currency headwinds during the second quarter as the euro maintained its strength against other major currencies. Most firms posted sales and earnings declines with the exception of Borealis and Wacker, which shrugged off the negative currency effects and achieved big increases in revenue and profits. Merck KGaA reports a 4.0% decline in second-quarter net income, to €303.3 million ($400 million). Acquisition-related, one-time items; lower royalty, license, and commission income; and negative foreign...

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