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Bayer’s agriculture unit, consumer health drives improved outlook for 2022
2022.08.04 08:53
FILE PHOTO: The logo of Bayer AG is pictured on the facade of the historical headquarters of the German pharmaceutical and chemical maker in Leverkusen, Germany, April 27, 2020. REUTERS/Wolfgang Rattay
FRANKFURT (Reuters) – Agriculture and pharmaceuticals company Bayer (OTC:BAYRY) on Thursday lifted its 2022 earnings guidance on strong demand from farmers for its seeds and crop chemicals and higher sales of consumer health products.
Bayer is now targeting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, of about 13 billion euros ($13.21 billion), based on June 30 foreign exchange rates, where it had previously predicted about 12 billion euros, it said in a statement.
