logo
  

Bayer Q2 Loss Narrows On Strong Sales Growth; Lifts FY22 Outlook - Quick Facts

German pharmaceutical and life sciences company Bayer Group (BAYZF.PK,BAYRY.PK,BYR.L) Thursday reported that its second-quarter net loss narrowed to 298 million euros from last year's loss of 2.34 billion euros.

Loss per share was 0.30 euro, compared to loss of 2.38 euros a year ago.

Core earnings per share from continuing operations were 1.93 euros, compared to 1.61 euros last year.

EBITDA before special items grew 30 percent from last year to 3.349 billion euros.

Group sales increased 18.1 percent to 12.82 billion euros from 10.85 billion euros last year. Group sales growth was 9.6 percent on a currency- and portfolio-adjusted basis.

Further, the company raised fiscal 2022 outlook based on business performance and higher growth expectations.

Bayer now expects to generate sales of 50 billion to 51 billion euros for the year, up from previously expected approximately 47 billion euros. EBITDA before special items would be around 13.0 billion euros, compared to earlier estimated around 12.0 billion euros.

Core earnings per share are now expected to come in at approximately 7.70 euros, up from previously expected 7.10 euros.

On a currency-adjusted basis, Bayer now expects to generate sales of 47 billion to 48 billion euros in 2022, compared to previously expected approximately 46 billion euros. This now corresponds to an increase of about 8 percent.

The company is now targeting an EBITDA margin before special items of around 26 to 27 percent on a currency-adjusted basis, compared to earlier estimated around 26 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
RELATED NEWS
Follow RTT