Bayer: confirms 2018 outlook after 'good' third quarter
(CercleFinance.com) - Germany's largest drugmaker Bayer has confirmed its full-year outlook for 2018 after reporting "good" operational performance for the third quarter, despite a "challenging" environment.
Third-quarter EBITDA before special items stagnated year-on-year at 2.2 billion euros, while group sales rose by 1.9% on a currency- and portfolio-adjusted basis, to 9.9 billion euros.
On a reported basis, sales were up by 23.4%.
This is the first time since the Monsanto acquisition was closed that the US business has been included for a full quarter, with the integration process now fully underway.
Bayer confirmed that it expects sales to reach over 39 billion euros this year, corresponding to a mid-single-digit percentage increase on a currency- and portfolio-adjusted basis.
The Leverkusen-based group also continues to expect EBITDA before special items to increase by a low-to-mid-single-digit percentage in 2018.
Regarding the crop protection product glyphosate, Bayer said that lawsuits from approximately 9,300 plaintiffs have been filed in the United States as of 30 October.
Yet, Bayer shares were up 1.8% at 69.2 euros while in comparison Germany's benchmark DAX was up just 0.6%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Third-quarter EBITDA before special items stagnated year-on-year at 2.2 billion euros, while group sales rose by 1.9% on a currency- and portfolio-adjusted basis, to 9.9 billion euros.
On a reported basis, sales were up by 23.4%.
This is the first time since the Monsanto acquisition was closed that the US business has been included for a full quarter, with the integration process now fully underway.
Bayer confirmed that it expects sales to reach over 39 billion euros this year, corresponding to a mid-single-digit percentage increase on a currency- and portfolio-adjusted basis.
The Leverkusen-based group also continues to expect EBITDA before special items to increase by a low-to-mid-single-digit percentage in 2018.
Regarding the crop protection product glyphosate, Bayer said that lawsuits from approximately 9,300 plaintiffs have been filed in the United States as of 30 October.
Yet, Bayer shares were up 1.8% at 69.2 euros while in comparison Germany's benchmark DAX was up just 0.6%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.