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30.06.2017 - 09:18

DGAP-Adhoc: Bayer Aktiengesellschaft: Bayer expects negative earnings impact from its Brazilian Crop Science business



DGAP-Ad-hoc: Bayer Aktiengesellschaft / Key word(s): Change in Forecast


Bayer Aktiengesellschaft: Bayer expects negative earnings impact from its Brazilian Crop Science business


30-Jun-2017 / 09:18 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



Despite an encouraging start to the year and continued good growth momentum, Bayer's Crop Science Division will have to adjust its business forecast for fiscal 2017. At the end of the harvest season in Brazil, regular stocktaking revealed an unexpectedly high channel inventory level of crop protection products. For this reason, Bayer will be working with its customers to initiate measures aimed at normalizing the situation. This will have a one-time effect of EUR 300 million to EUR 400 million on earnings (EBITDA before special items) for the full year 2017. Appropriate accounting measures are already being taken in the second quarter.



 



Bayer is also expecting earnings to be additionally impacted by unfavorable currency developments. Business performance by the Consumer Health Division is weaker than previously expected.



 



Against this background, Bayer will be adjusting its full-year forecasts for sales and earnings in the Crop Science and Consumer Health divisions. This will also result in adjustments to the forecasts for Group sales and earnings indicators.



 



By contrast, the Pharmaceuticals Division and Covestro continue to perform strongly. The Animal Health business unit is performing in line with expectations.



 



The outlook will be adjusted during preparation of the interim report for the second quarter and announced with its publication.





Contact:

Mr. Peter Dahlhoff, Bayer AG, Investor Relations, Phone: +49-214-30-33022, e-mail: peter.dahlhoff@bayer.com, Fax: 0214-30-96-33022








30-Jun-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de




























Language: English
Company: Bayer Aktiengesellschaft

Kaiser-Wilhelm-Allee 1

51373 Leverkusen

Germany
Phone: +49 (0)214 30-65742
Fax: +49 (0)21430-9665742
E-mail: ir@bayer.com
Internet: www.bayer.com
ISIN: DE000BAY0017
WKN: BAY001
Indices: DAX, EURO STOXX 50, Stoxx 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; Madrid





 
End of Announcement DGAP News Service




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