Bayer AG announced earnings and sales that were higher than expected, with the company giving its estimates for increased profits and sales this year.
The German group of pharmaceutical and agricultural activities announced net profits of 1.16 billion Euros for the last quarter of the year, higher than 308 million Euros in the corresponding quarter of the previous year and against estimates for 731 million Euros.
EBITDA stood at 2.40 billion euros, also higher than the 2.39 billion euros a year ago.
Sales rose to 11.12 billion euros from 10 billion euros a year ago, compared to estimates for 10.47 billion euros.
Sales in the agricultural sector increased by 11% compared to the previous year, while sales of prescription drugs increased by 7.4%.
Bayer said it expects a significant increase in sales, profits and cash flow in 2022.
Sales are expected to reach 46 billion Euros per year while EBITDA before emergencies is expected to reach 12 billion Euros.
Earnings from basic activities per share are expected to reach 7 billion Euros, while cash flows are expected at 2-2.5 billion Euros.
Source: Capital
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