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2/27/2019, 7:34 AM (Source: TeleTrader)
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Bayer reports sales of €11B in Q4, up 28%

German pharmaceutical giant Bayer announced on Wednesday its sales in the fourth quarter of fiscal 2018 stood at €11 billion, marking a 28% increase compared to the same three-month period a year ago. However, the company reported a loss of €4 per share on a net loss of €3.92 billion. The number of employees rose by 17% to reach a total of 116,998.

For the whole of fiscal 2018, sales were up by 13% to reach €39.59 billion, while net income fell by 77% to hit €1.69 billion. The company earned €1.80 per share for the full year, 78% less than in 2017.

"Over recent years we have systematically developed into a focused life science company, clearly aligned to the megatrends in health and agriculture and united under the strong umbrella brand Bayer," said Werner Bauman, Bayer's chairman, while also pointing out the company acquisition of Covestro, which "has lifted us to the number one position in this market."

Breaking the News / FH