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 high shareholder attendance and formal introductions of board members and auditors.

• The meeting was convened in accordance with legal requirements, with all necessary documents and agenda items published and accessible to attendees.

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

• Voting rights could be exercised in advance via postal vote, proxy, or electronically, with detailed procedures explained for in-person and remote participation.

Financial performance review

• Net sales from 2020-2025 increased by 20%, EBITDA pre by 17%, and operating cash flow by 30%.

• EPS grew by 31% and dividends per share by 57% over the same period.

• In 2025, net sales reached EUR 20.1 billion (3.1% organic growth), with EBITDA pre at EUR 6.1 billion (29% margin).

• 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 introduced as the incoming CEO, effective May 1, with Benjamin Hein succeeding him as CEO of Electronics.

• The Supervisory Board expressed gratitude to Garijo and welcomed Beckmann, highlighting their leadership and vision.