February 28, 2018 / 7:43 AM / 21 days ago

Bayer fourth-quarter profit edges lower as crop chems, consumer care weigh

LEVERKUSEN, Germany (Reuters) - German drugmaker Bayer’s adjusted core earnings slipped 1.3 percent in the fourth quarter, as it tries to overcome weak demand for crop protection products in Brazil and a drop in sales of consumer care products.

FILE PHOTO: The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Photo

Bayer’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1.78 billion euros ($2.18 billion) for the quarter, slightly lower than the average forecast by analysts of 1.8 billion euros.

It said 2018 adjusted EBITDA would be at the prior-year level, held back by a burden of about 300 million euros from a warning letter by the U.S. Food and Drug Administration.

($1 = 0.8177 euros)

Reporting by Ludwig BurgerEditing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below