Bayer warns on 2023 earnings as inflation stays extreme, after disappointing quarter

Bayer AG on Tuesday reported web revenue for the fourth quarter of 2022 that missed consensus expectations regardless of elevated gross sales, and acknowledged it expects earnings for 2023 to be decrease than the prior 12 months as inflation stays extreme.

The German agricultural and pharmaceutical agency
-4.seventy five%

posted web revenue of 611 million euros ($648.three million) for the ultimate quarter of 2022, down from EUR1.sixteen billion the 12 months prior, and lacking a agency-provided consensus that had anticipated EUR981 million. Earnings earlier than particular objects have been up barely on 12 months to EUR2.forty six billion from EUR2.forty billion the earlier 12 months.

Core earnings per share rose to EUR1.35 from EUR1.26 the earlier 12 months, although earnings per share dropped to EUR0.sixty two from EUR1.18, the agency acknowledged.

gross sales rose to EUR12 billion inside the quarter from EUR11.12 billion the earlier 12 months, a slight miss on a consensus forecast of EUR12.06 billion.

For the 12 months forward, Bayer acknowledged it expects earnings to be decrease ensuing from extreme inflation-pushed price will enhance, although gross sales are anticipated to develop, reaching a unfold of EUR51 billion to EUR52 billion inside the 12 months.

Ebitda earlier than particular objects is anticipated to be inside the range of EUR12.5 billion to EUR13 billion.

Write to Cecilia Butini at [email protected]


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