Drug and pesticide maker Bayer said its 2023 results would likely come in at the lower bound of its target range, hurt by cost inflation and the reversal of last year's price boost for its glyphosate-based weedkillers.
said its 2023 results would likely come in at the lower bound of its target range, hurt by cost inflation and the reversal of last year's price boost for its glyphosate-based weedkillers.
"Overall, we expect target attainment to come in at the lower end of our guidance," CEO Werner Baumann, who will be succeeded by former RocheBaumann cited "potential risks mainly arising from the significantly reduced market price expectations for glyphosate-based products". The healthcare and agriculture group said first-quarter adjusted earnings before interest, taxes, depreciation and amortisation , declined 14.9% to 4.47 billion euros , falling short of the average analyst estimate of 4.63 billion euros in a consensus posted on the company's website.
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