The German pharmaceutical and chemical company Bayer, returned to profits for the third quarter and stressed that sales increased, mainly due to the recovery of its agricultural activities.
The company reported a net profit of 85m euros compared to a net loss of 2.74 billion euros a year ago, when it was facing problems in the agricultural sector.
EBITDA stood at 2.09 billion euros, up from 1.80 billion euros a year ago.
Profits before taxes and interest amounted to 530 million euros, compared to losses before taxes and interest of 9.40 billion euros.
Sales rose to 9.78 billion euros from 8.51 billion euros, Bayer said.
The company has adjusted its outlook for 2021. It continues to expect sales of 44 billion euros, although they now correspond to an adjusted increase of 7% compared to 6% previously.
Basic earnings per share for the year are now expected at 6.50-6.70 euros after the effects of the currencies, compared to a previous estimate of 6.40-6.60 euros.
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Source From: Capital
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