Merck (MRK) AGM 2026 summary

Opening remarks and agenda

• AGM 2026 was called to order at Jahrhunderthalle, marking the first in-person meeting since 2019, with a large shareholder turnout.

• Formalities included confirmation of proper convening, legal compliance, and availability of all required documents and agenda items.

• No motions to supplement the agenda or countermotions were received from shareholders prior to the meeting.

• Voting procedures, including electronic voting and proxy options, were explained in detail, with all credentials and privacy policies addressed.

Financial performance review

• Net sales for 2025 reached EUR 20.1 billion, with organic growth of 3.1%.

• EBITDA pre was EUR 6.1 billion, nearly 29% of net sales, despite FX headwinds and portfolio changes.

• From 2020 to 2025, net sales grew 20%, EBITDA pre by 17%, operating cash flow by 30%, EPS by 31%, and dividends per share by 57%.

• Significant progress toward climate neutrality: 60% reduction in net greenhouse gas emissions since 2020, 64% renewable electricity achieved.

• Life Science delivered 4% organic sales growth, Healthcare 3.7%, and Electronics saw a slight 0.6% sales decline but 8.2% growth in semiconductor materials.

Board and executive committee updates

• CEO Belén Garijo delivered her final AGM address, reflecting on her tenure and the company’s transformation.

• Kai Beckmann was welcomed as the new CEO, effective May 1, with Benjamin Hein joining as CEO of Electronics.

• The Supervisory Board expressed gratitude to outgoing and incoming executives, highlighting their leadership and vision.