Bayer Confirms 2022 Objectives After 3Q Sales Beat -- Update
08 Novembre 2022 - 9:20AM
Dow Jones News
By Cecilia Butini
Bayer AG on Tuesday backed its 2022 financial objectives after
third-quarter sales beat expectations and it reported earnings
growth in all segments.
The German pharmaceutical-and-agricultural company posted a net
profit of 546 million euros ($547.2 million) for the period, up
from EUR85 million the year prior, when its agricultural division
was in a recovery phase. Earnings before interest, taxes,
depreciation and amortization before special items--a
closely-watched metric--was EUR2.45 billion for the period, up from
EUR2.09 billion the year prior.
Sales rose to EUR11.28 billion for the quarter from EUR9.78
billion the year prior.
Both sales and Ebitda before special items beat analysts'
expectations, while net profit came slightly short.
The company's agricultural division, a key growth driver, posted
higher sales in the third quarter compared with the previous year.
The business achieved double-digit percentage gains in Latin
America and the Europe, Middle East and Africa region, but sales
declined significantly in North America due to higher seed returns,
it said.
The pharmaceutical division also saw a rise in sales as
prescription medicines sales were 2.9% higher than the previous
year, Bayer said. However, overall sales growth was held back by a
patent expiry in Brazil for blood thinner Xarelto and sales
declines in China on both cancer drug Nexavar and Xarelto. Bayer's
consumer-health division reported sales growth across all regions,
the company added.
Bayer backed its 2022 view and Chief Executive Werner Baumann
said the company is on track to achieve the full-year outlook it
raised in August.
The company expects cost increases to continue into the new
year, and that it aims to be independent of Russian gas in Germany
by the end of 2022, it said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
November 08, 2022 03:05 ET (08:05 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Bayer (TG:BAYN)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Bayer (TG:BAYN)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024