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Bayer posts sharp drop in Q3

Bayer posts sharp drop in Q3

The German chemical and pharmaceutical company Bayer posted yesterday sharp drops in quarterly profit and sales but confirmed its forecast for all of 2009.
Net profit slumped by 10.1 percent in the third quarter from the same period a year earlier to 249 million euros (US$370 million), the maker of Aspirin said in a statement.
Sales fell by 7.0 percent to 7.39 billion euros, it added.
But "we are still adhering to our ambitious full-year forecast for the Bayer group," the statement quoted chairman Werner Wenning as saying.
"We still expect to post full-year group sales of between 31 billion and 32 billion euros and are adhering to our ambitious target of limiting the decline in group EBITDA (core earnings) before special items to about five percent," Wenning said.


Updated : 2021-03-02 13:50 GMT+08:00