LEVERKUSEN (dpa-AFX) - German pharmaceutical and life sciences company Bayer Group (BAYZF.PK, BAYRY.PK, BYR.L) Thursday reported that its second-quarter net loss narrowed to 298 million euros from last year's loss of 2.34 billion euros.
Loss per share was 0.30 euro, compared to loss of 2.38 euros a year ago.
Core earnings per share from continuing operations were 1.93 euros, compared to 1.61 euros last year.
EBITDA before special items grew 30 percent from last year to 3.349 billion euros.
Group sales increased 18.1 percent to 12.82 billion euros from 10.85 billion euros last year. Group sales growth was 9.6 percent on a currency- and portfolio-adjusted basis.
Further, the company raised fiscal 2022 outlook based on business performance and higher growth expectations.
Bayer now expects to generate sales of 50 billion to 51 billion euros for the year, up from previously expected approximately 47 billion euros. EBITDA before special items would be around 13.0 billion euros, compared to earlier estimated around 12.0 billion euros.
Core earnings per share are now expected to come in at approximately 7.70 euros, up from previously expected 7.10 euros.
On a currency-adjusted basis, Bayer now expects to generate sales of 47 billion to 48 billion euros in 2022, compared to previously expected approximately 46 billion euros. This now corresponds to an increase of about 8 percent.
The company is now targeting an EBITDA margin before special items of around 26 to 27 percent on a currency-adjusted basis, compared to earlier estimated around 26 percent.
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