Bayer Group Q3 Profit Rises, Sales Up 14.3%; Revises Outlook - Quick Facts

The Bayer Group (BAYZF.PK,BAYRY.PK,BYR.L) said it recorded a significant increase in sales and earnings in the third quarter of 2021. Crop Science reported strong sales gains and significant earnings growth, during the quarter. Bayer has also updated the upgraded outlook for 2021 that it had issued in August.

Third quarter net income was 85 million euros compared to a loss of 2.74 billion euros, prior year. Profit per share was 0.09 euros compared to a loss of 2.79 euros. Core earnings per share increased by 29.6 percent to 1.05 euros, mainly due to the development of business within the Crop Science Division. EBITDA before special items increased by 16.4 percent to 2.09 billion euros.

Group sales rose by 14.3 percent on a currency- and portfolio-adjusted basis to 9.78 billion euros. In the agricultural business (Crop Science), sales were up 25.8 percent to 3.85 billion euros due to a substantial increase in volumes and prices.

For 2021, on a currency-adjusted basis, the company continues to expect sales to come in at approximately 44 billion euros. This now corresponds to currency- and portfolio-adjusted growth of approximately 7 percent, revised from prior guidance of approximately 6 percent. Core earnings per share are now expected to come in at approximately 6.50 euros to 6.70 euros after adjusting for currency effects, revised from prior guidance of approximately 6.40 euros to 6.60 euros.

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