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Bayer Q4 Profit Drops; Sees Stable FY Earnings At Constant Currencies - Quick Facts

Bayer AG (BAYZF.PK,BAYRY.PK,BYR.L) reported that its fourth-quarter net income dropped to 308 million euros from 1.41 billion euros in the same quarter last year. On a per share basis, net income was 0.32 euros, down from 1.44 euros in the previous year.

Core earnings per share were 1.32 euros, up from 1.29 euros in the prior year.

Quarterly sales declined to 9.995 billion euros from 10.75 billion euros in the previous year.

The company said its board will propose to the Annual Stockholders' Meeting on April 27, 2021, a dividend payment for fiscal 2020 of 2.00 euros per share, compared to 2.80 euros per share in fiscal 2019.

For 2021, Bayer expects to achieve solid operational growth and stable earnings at constant currencies.

For 2021, on a currency-adjusted basis, the company expects sales to be in the range of about 42 billion to 43 billion euros, which corresponds to an increase of about 3 percent (Fx & portfolio adj.). The company expects to generate an EBITDA margin before special items of around 27 percent. It would correspond to EBITDA before special items of 11.2 billion euros to 11.5 billion euros. It expects core earnings per share of about 6.10 euros to 6.30 euros.

Based on the exchange rates on December 31, 2020, Bayer expects in 2021 to post sales of about 41 billion euros, an EBITDA margin before special items of approximately 26 percent and thus EBITDA before special items of between 10.5 billion and 10.8 billion euros, and core earnings per share of about 5.60 to 5.80 euros.

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