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As it presented third-quarter results on Wednesday, the pharmaceutical and agrochemical group said there were still challenges to profitability. The Leverkusen-based company once again felt the effects of the drop in prices of the weed killer glyphosate in the last third quarter.
Compared with the same period last year, sales fell by just over eight percent to 10.3 billion euros. Negative exchange rate effects also had a negative impact. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell by almost a third to 1.7 billion euros, more than analysts expected. As a result, losses of 4.57 billion euros were incurred due to renewed disruptions in agricultural business. A year ago, Bayer made a profit of 546 million euros.
CEO Bill Anderson, who has been in office since June, plans to present plans for the future corporate structure in March. Currently, Bayer is said to continue looking at various options; In addition to retaining the three divisions, spin-offs from the Consumer Health division or the Plant Science division are also being examined. The second covers agricultural work involving glyphosate.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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