Quarterly results: Bayer raises annual targets - Group CEO sees "turning point"
The pharmaceutical company is not only making progress in reducing debt. The pharmaceutical business is also developing more positively than expected by analysts. The company is now setting itself more ambitious goals.
Bayer reported a strong performance in the third quarter, driven by its pharmaceutical business, which offset weaknesses in its agricultural sector. The company's adjusted operating profit (Ebitda) rose 6.9% to €1.615 billion, surpassing analyst expectations of €1.425 billion. Bayer's revenue increased by 4% to over €10 billion, and the company raised its annual targets, now expecting an adjusted operating profit of €9.8-10.3 billion. CEO Bill Anderson cited a turnaround in the growth of the Pharmaceuticals business.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
