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Bayer Confirms FY19, Medium Term Targets

Bayer Group (BAYZF.PK,BAYRY.PK,BYR.L), at its Annual Stockholders' Meeting on Friday, confirmed its fiscal 2019 forecast as well as medium-term targets.

For 2019, the company continues to expect sales of around 46 billion euros, an an increase of approximately 4 percent on a currency- & portfolio adjusted basis.

EBITDA before special items is still expected to rise to around 12.2 billion euros, and core earnings per share to around 6.80 euros.

Bayer said it attained its 2018 operational targets. The company proposed paying a dividend of 2.80 euros per share as in the prior year.

Bayer also confirmed its ambitious medium-term targets. Bayer aims to increase EBITDA before special items to approximately 16 billion euros by 2022, and core earnings per share to around 10 euros.

Bayer also intends to invest a total of 35 billion euros in the company's further development through 2022, with research and development accounting for over two-thirds of this figure.

Regarding the Monsanto acquisition, the company said the integration is proceeding faster than planned and successfully on the whole. The company will realize one billion euros a year in synergies from the acquisition from 2022 onward.

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