Bayer cut its net profit in the first quarter by 6%

German chemical and pharmaceutical concern Bayer in the first quarter reduced its net profit by 6.2% in annual terms to 1 billion 950 million euros. Analysts had expected profits at the level of 1 billion 530 million euros. The decrease is due to the negative impact of changes in exchange rates. Quarterly revenues amounted to 9 billion 140 million euros, 31% down. The forecast of the analysts had assumed revenue at the level of 9 billion 300 million euros. The Pharmaceuticals division increased quarterly sales by 2.9% to €4 billion 75 million. At the same time, the unit's EBITDA decreased by 5.8% to 1 billion 415 million euros. Revenue in the department of the non-prescription medicinal products decreased by 2.2%. In the department of veterinary drugs, the indicator grew by 3%. In the agricultural business, revenue did not change much.

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