Bayer Beat Expectations in 4Q; Guides for Increased Earnings, Sales in 2022 -- Update
01 Março 2022 - 05:13AM
Dow Jones News
By Cecilia Butini
Bayer AG on Tuesday posted earnings and sales that beat
consensus expectations, and guided for increased earnings and sales
in the year ahead.
The German pharmaceutical-and-agricultural company reported net
profit of 1.16 billion euros ($1.30 billion) for the last quarter
of the year, up from EUR308 million in the same quarter the year
prior and beating analysts' expectations of EUR731 million.
Earnings before interest, taxes, depreciation and amortization
before special items came in at EUR2.40 billion, also up from the
previous year, when it was EUR2.39 billion.
Sales grew to EUR11.12 billion from EUR10 billion the year
prior, beating consensus expectations of EUR10.47 billion.
Sales in Bayer's agricultural crop science division increased
11% from the same quarter the previous year, with growth was spread
across all regions, especially Latin America and Asia-Pacific. Crop
science earnings also grew, which the company attributed to higher
prices and volumes, and to contributions from efficiency
program.
Regarding continuing U.S. litigation over its weedkiller
Roundup--which some consumers have claimed it caused their
cancer--the company said it sees "encouraging steps," and that it
is prepared for any outcome from the U.S. Supreme Court. Bayer last
year initiated a five-point plan to address potential future claims
connected to Roundup, which it said it is continuing to
execute.
Sales of prescription medicines, part of Bayer's pharmaceutical
division, grew by 7.4% in the year, with some of the division's
businesses showing recovery from headwinds caused by the pandemic,
the company said. Consumer-health sales also grew during 2021,
boosted by demand coming from greater focus on health and
prevention during the pandemic.
Looking ahead, Bayer said it expects to significantly increase
sales, earnings and free cash flow in 2022. Sales are expected to
be about EUR46 billion in the year ahead, while Ebitda before
special items should be about EUR12 billion, Bayer said.
Core earnings per share are expected to be about EUR7, while
free cash flow is seen at about EUR2 billion to EUR2.5 billion,
after deducting settlement payments.
Bayer said it would propose to maintain its dividend unchanged
to EUR2.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
March 01, 2022 02:58 ET (07:58 GMT)
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