Bayer reduced net profit by 36.5% in the first quarter

According to the results of the first quarter, pharmaceutical concern Bayer reported revenue growth and lower profits. The quarterly report of the German company showed that due to the costs associated with the restructuring and acquisition of Monsanto, its net profit fell by 36.5% in annual terms to 1 billion 241 million euros. Economists had predicted a figure of 1 billion 380 million euros. EBITDA excluding one-off factors showed an increase of 44.6% over the year. Revenues amounted to 13 billion 15 million euros, an increase compared to the same period last year by 42.4%. The figure exceeded the forecasts of experts at 12 billion 540 million euros. The pharmaceutical division recorded sales growth of 6.8%. At the same time, sales of the division producing products for the agricultural sector jumped 125.5%. The capitalization of Bayer has increased by 2.54% since the beginning of the year.

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