German Bayer reduced its net profit by 9.1% in 2018

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Bayer, the German chemical and pharmaceutical concern, reported on its results for the fourth quarter and 2018 as a whole. In the fourth quarter, the company recorded a net loss of 3 billion 924 million euros, compared with a profit of 148 million euros in the same quarter a year earlier. At the same time, quarterly revenues of 11 billion 62 million euros showed an annual growth of 28.7%. The net profit of Bayer for the entire 2018 was at the level of 6 billion 480 million euros, dropping 9.1% over the year. The annual revenue of the pharmaceutical sector decreased by 0.6%, reaching 16 billion 746 million euros. The OTC division increased revenue by 7%. At the same time, the agricultural division increased by 49%. Revenues from sales of pet products fell by 4.5%.

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