Frankfurt (Reuters) – A strong agricultural business gives Bayer a tailwind. Adjusted operating profit increased in the third quarter by a good 17 percent to 2.45 billion euros, as the pharmaceutical and agricultural group announced on Tuesday.
Analysts had expected less than 2.3 billion euros on average. Bayer posted a jump in earnings of a good third in the crop protection products and seeds business, but also made significant gains in the pharmaceuticals sector and in over-the-counter health products. Sales increased by more than 15 percent to 11.28 billion euros, currency-adjusted there was an increase of 5.7 percent.
CEO Werner Baumann confirmed the annual goals. Accordingly, Bayer continues to expect currency-adjusted sales growth of around eight percent to EUR 47 to 48 billion and adjusted earnings of around EUR 12.5 billion. In 2021, the Leverkusen group had achieved a result of 11.18 billion with sales of a good 44 billion euros. “We are well on the way to achieving our full-year financial targets, which we raised in August,” said Baumann.
However, he also expects higher costs in the coming year as a result of high inflation. Bayer therefore wants to make Baumann independent of Russian gas by the end of the year. Stable supply chains are also a top priority, as they remain very tense worldwide. The Leverkusen-based company is therefore working closely with its suppliers and contract manufacturers and is continuing to stock up, explained Baumann.
(Report by Patricia Weiß; edited by Olaf Brenner. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets). )
Leverage must be between 2 and 20
No data