LEVERKUSEN (dpa-AFX) - Bayer AG (BAYZF.PK) Tuesday reported income before taxes of 1.830 billion euros for the first quarter, lower than 2.591 billion euros in the same quarter a year ago, primarily due to lower sales as well as higher expenses.
Net income declined to 1.299 billion euros or 1.32 euros per share from 2 billion euros or 2.04 euros per share last year.
Core earnings per share from continuing operations was 2.49 euros, 11.7% lower than 2.82 euros in the prior year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization decreased 16.8% to 3.498 billion euros from 4.205 billion euros a year ago.
Excluding one-time items, adjusted EBITDA reduced 7.4% to 4.085 billion euros from 4.412 billion euros last year.
Sales for the quarter dropped 0.2% to 13.738 billion euros from 13.765 billion euros in the previous year.
Looking ahead, the company has confirmed its full year currency-adjusted outlook.
Commenting on the new US tariffs, the company said in a statement, 'We are continuously evaluating the impacts of the current geopolitical developments, especially in relation to potential tariffs from the US government. Based on current calculations of the financial effects, we do not see a need to revise our full-year guidance. However, there is considerable uncertainty concerning the future impacts of any potential further developments in relation to this issue, as well as with respect to exchange-rate developments.'
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