LEVERKUSEN (dpa-AFX) - Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) reported a third quarter loss from continuing operations to shareholders of 7.70 billion euros compared to profit of 990 million euros, last year. Loss per share from continuing operations was 7.84 euros compared to profit of 1.01 euros. Group EBITDA before special items fell by 21.4% to 1.79 billion euros. Third quarter core net income from continuing operations was 794 million euros compared to 1.13 billion euros. Core earnings per share from continuing operations fell by 30.2% to 0.81 euros, due mainly to the sharp decline in earnings at Crop Science.
Third quarter Group sales fell by 5.1% (Fx & portfolio adj.) to 8.51 billion euros. Sales were down 13.5% on a reported basis.
Bayer has confirmed its revised currency-adjusted Group outlook for full-year 2020. On a currency-adjusted basis, the company aims to grow sales to between 43 and 44 billion euros and increase its EBITDA margin before special items to around 28 percent. This would correspond to EBITDA before special items of around 12.1 billion euros after adjusting for currency effects. Core earnings per share are expected to rise to between 6.70 and 6.90 euros on a currency-adjusted basis.
The company noted that due to revised growth assumptions, it now expects to post currency- and portfolio-adjusted sales growth of 1% (previously: 2%) at Crop Science and 5% (previously: 4%) at Consumer Health.
Copyright RTT News/dpa-AFX
© 2020 AFX News
