Daily Management Review

Bayer AG profit declines by 36.5% in Q1


Net profit of German chemical and pharmaceutical concern Bayer AG declined in Q1 by 36.5% in annual terms to € 1.24 billion. Earnings per share amounted to € 1.27 against € 2.22 a year earlier.

The company's revenue grew by 42% to € 13.015 billion, reports Bayer. Revenue growth is mainly associated with good performance in the agricultural and pharmaceutical divisions.

The revenue of the pharmaceutical division increased by 6.8%, to € 4.354 billion. At the same time, the revenue of the Consumer Health division (non-prescription drugs) decreased by 1% to € 1.395 billion. Revenue of the agricultural division of Bayer jumped 2.2 times to € 6.444 billion.

Bayer predicts that revenue this year will amount to € 46 billion (+ 4%).

Bayer AG was founded in 1863, it represents more than 300 companies in different countries, the list of products includes about 5 thousand items. The most well-known brands of Bayer include Aspirin, Alka-Seltzer Alka-Seltzer and Supradyn.

source: bloomberg.com