LEVERKUSEN (dpa-AFX) – After a difficult 2023, Bayer gives its shareholders little hope of a significant improvement in the coming year. Given the current market dynamics and initial assumptions for 2024, the growth prospects remain rather weak and there are still challenges to profitability, the pharmaceutical and agrochemical group announced on Wednesday when presenting its third quarter results. In addition, CEO Bill Anderson, who has been in office since June, wants to present his plans for the future corporate structure in March. It is currently said that Bayer is continuing to look at various options – in addition to retaining three divisions, a separation from the Consumer Health division or the Crop Science division is also being examined.
In the last third quarter, the Leverkusen-based company once again felt the effects of falling prices for the weed killer glyphosate. Compared to the same period last year, sales fell by just over eight percent to 10.3 billion euros. Excluding negative currency effects, the decline was only 0.2 percent. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) fell by almost a third to 1.7 billion euros, more than analysts expected. The bottom line was a loss of 4.57 billion euros, also due to renewed impairments in the agricultural business. A year ago the bottom line was a profit of 546 million euros./mis/zb
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