Bayer: share drops after Q4 results
(CercleFinance.com) - On Thursday Bayer reported lower quarterly results as the German chemical and pharmaceutical giant suffered from adverse currency effects, amongst other things.
Q4 EBITDA before extraordinary items amounted to 2.4 billion euros, down 3% from the 2.5 billion euros reported for the same period last year.
Its sales fell by 7% to under 10 billion euros, with the group negatively impacted by FX factors.
While the group managed to post positive net income in Q4 at 308 million euros, Bayer announced a FY 2020 net loss of around 10.5 billion euros, which is actuall better than expected, as analysts expected a loss in excess of 12 billion euros.
The inventor of aspirin said it expected sales of between 42 to 43 billion euros this year, up 3% on an adjusted basis.
EBITDA before exceptional items is expected to be between 11.2 and 11.5 billion, compared to 7.1 billion euros last year.
In Frankfurt, the Bayer share was down over 3% after the publication of these figures, while the DAX index was just keeping afloat (+0.1%).
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