Business & Finance
Bayer reports Q1 2018 financial results
4 May 2018 -

Bayer AG, a Germany based multinational pharmaceutical and life sciences company, yesterday announced its financial results for the first quarter of 2018.

The company reported a 2.0% increase in group sales, to EUR9.138bn. EBITDA before special items was down EUR2.896bn, which the company stated was due to currency effects and the figure is level with the prior year quarter on a currency adjusted basis. The company's net income was down by 6.2% to EUR1.954bn, and core earnings per share was down 1.3% at EUR2.28.

On presenting the interim report on Thursday, Werner Baumann, chairman of the Bayer board of management, said, 'We posted growth at Pharmaceuticals and in the Animal Health business.' He confirmed the currency-adjusted Group outlook for 2018 and said, 'We have made good headway strategically and have made major progress with the proposed acquisition of Monsanto.'