(RTTNews) – German pharmaceutical and life sciences main Bayer (BAYZF.PK, BAYRY.PK, BYR.L) reported that its third quarter internet loss narrowed to 4.183 billion euros from 4.569 billion euros final yr. Loss per share was 4.26 euros in comparison with a lack of 4.66 euros within the prior yr.
Core earnings per share for the third quarter declined to 0.24 euros from 0.38 euros within the earlier yr.
EBITDA earlier than particular objects decreased by 25.8 % to 1.251 billion euros. This determine included a destructive foreign money impact of 94 million euros in comparison with 31 million euros within the prior yr.
Group EBIT got here in at minus 3.822 billion euros in comparison with minus 3.594 billion euros within the prior yr. This determine included internet particular expenses of 4.088 billion euros that primarily associated to non-cash impairment losses on intangible belongings within the Crop Science Division.
Group gross sales had been 9.968 billion euros within the third quarter of 2024, up 0.6 % on a currency- and portfolio-adjusted foundation (Fx & portfolio adj.). There was a destructive foreign money impact of 436 million euros.
Bayer has confirmed its 2024 Group steering for currency- and portfolio-adjusted gross sales progress, currency-adjusted core earnings per share, and free money circulate.
Nevertheless, in view of the weaker-than-anticipated improvement of the agricultural market, the corporate has revised some elements of its Group forecast. Bayer now expects to generate EBITDA earlier than particular objects of between 10.4 and 10.7 billion euros based mostly on the common month-to-month change charges in 2023. Beforehand, it was anticipated to be between 10.7 billion euros and 11.3 billion euros.
The corporate has additionally revised its steering on the divisional degree based mostly on present change charges. For Crop Science, Bayer now expects currency- and portfolio-adjusted gross sales progress of between -1% and -3%, in comparison with the earlier forecast of decrease finish of the vary of between minus 1 and plus 3 %. EBITDA margin earlier than particular objects is now anticipated to be between 18 and 20 % in comparison with the earlier forecast of decrease finish of the vary of 20% to 22%.
For Shopper Well being, the corporate now expects currency- and portfolio-adjusted gross sales progress of between 1 and three % in comparison with the earlier forecast of between 3 and 6 %.
For Prescribed drugs, the division is now anticipated to come back in on the higher finish of the upgraded steering issued within the Half-Yr Monetary Report, which projected currency- and portfolio-adjusted gross sales progress of between 0 and three % and an EBITDA margin earlier than particular objects of between 26 and 29 %.
The Supervisory Board of Bayer AG has prolonged the present contract of Wolfgang Nickl, Chief Monetary Officer, till Might 31, 2026. Nickl had initially deliberate to retire after the 2025 Annual Stockholders’ Assembly.
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