Bayer eyes 16 billion euros in 2022 adjusted EBITDA

FAN Editor
FILE PHOTO: A logo of Bayer is seen next to dark clouds at Cologne Bonn airport
FILE PHOTO: A logo of Bayer is seen next to dark clouds at Cologne Bonn airport March 27, 2015. REUTERS/Wolfgang Rattay

December 5, 2018

FRANKFURT (Reuters) – German drugmaker Bayer <BAYGn.DE>, which acquired seed company Monsanto this year, said it aimed to increase adjusted core earnings to 16 billion euros ($18.1 billion) in 2022, up from an expected 12.2 billion euros this year.

“We will create substantial value by leveraging our innovation capabilities into growth, improved profitability and a higher cash flow. The recently announced efficiency and structural measures will further support us in these endeavors,” Chief Executive Werner Baumann said at the group’s capital markets day in London on Wednesday.

The 2022 target does not take into account the effect of currency swings.

Bayer last week announced the sale of a number of businesses, around 12,000 job cuts and 3.3 billion euros ($3.8 billion) in impairments.

(Reporting by Ludwig Burger; editing by Thomas Seythal)

Free America Network Articles

Leave a Reply

Next Post

Germany could be about to find out who will replace Merkel as leader

Germany’s largest and dominant political party, the Christian Democratic Union (CDU), is holding a crucial vote to elect a new leader this coming weekend after Chancellor Angela Merkel said she would not run for the post and effectively started to wind down her political career. There are two main contenders […]