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.
Looking ahead, the company 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.
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