Bayer's revenue drops 5.1% to €8.5B in Q3

Tuesday, 03. November 2020 07:32

Bayer AG reported on Tuesday that its group sales amounted to €8.5 billion in the third quarter of fiscal 2020 after falling 5.1% compared to the same period a year ago.

The company unveiled that its EBITDA plunged 60.8% to land at 894 million in the quarter ended September 30, while its net loss stood at €2.7 billion. The firm's core loss per share came up to €0.81.

"Despite the weak quarter and the substantial impact of the pandemic, our currency- and portfolio-adjusted sales and core earnings per share in the first nine months of the year were level with the prior-year period thanks to stringent cost management and the acceleration of our structural measures. We can therefore confirm our currency-adjusted Group outlook for 2020," Bayer CEO Werner Baumann concluded.

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