* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 18, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Theater at Santa Fe’s San Isidro Plaza will be converted into IMAX, family entertainment venue – Santa Fe New Mexican

    Santa Fe’s San Isidro Plaza Theater Transforms into Exciting IMAX Family Entertainment Venue

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    B&B Theatres will open massive entertainment complex in Texas – The Business Journals

    Rough times for broadcast networks illustrate changing media landscape – New Haven Register

    Broadcast Networks Confront Turbulent Times in a Rapidly Changing Media Landscape

    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    A major AI training data set contains millions of examples of personal data – MIT Technology Review

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    Simpson College to purchase medical simulation technology with grant funds – Iowa Capital Dispatch

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    SailGP Technologies officially launches new center of excellence in technology & innovation – Sail-World.com

    Victorville’s new gunfire-detecting technology already making strides, city says – NBC Los Angeles

    Victorville’s New Gunfire-Detecting Technology Is Already Making a Difference, City Officials Say

    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Health

Second quarter impacted by declines in glyphosate business

November 1, 2023
in Health
Second quarter impacted by declines in glyphosate business
Share on FacebookShare on Twitter

Leverkusen, August 8, 2023 – Bayer published detailed results for the second quarter of 2023 on Tuesday, after having already communicated key figures for the three-month period and lowering its outlook for full-year 2023 in a July 24 news release. The revised guidance was mainly due to a significant further decline in sales of glyphosate-based products at the Crop Science Division. Sales at Pharmaceuticals were stable on a currency- and portfolio-adjusted basis (Fx & portfolio adj.), while earnings were down year on year. Consumer Health registered higher sales (Fx & portfolio adj.) and also increased earnings.

Group sales declined by 8.2 percent (Fx & portfolio adj.) to 11.044 billion euros in the second quarter. There was a negative currency effect of 553 million euros (Q2 2022: positive currency effect of 915 million euros). EBITDA before special items declined by 24.5 percent to 2.527 billion euros. This figure included a negative currency effect of 120 million euros (Q2 2022: positive currency effect of 300 million euros). By contrast, the company registered income across all divisions totaling around 481 million euros due to a decrease in provisions for the Group-wide Short-Term Incentive program. EBIT came in at minus 956 million euros (Q2 2022: plus 169 million euros) after net special charges of 2.490 billion euros (Q2 2022: 2.111 billion euros) that primarily related to unscheduled impairment testing in the Crop Science Division. As a result, net income came in at minus 1.887 billion euros (Q2 2022: minus 298 million euros). Core earnings per share decreased by 36.8 percent to 1.22 euros.

Free cash flow amounted to minus 473 million euros (Q2 2022: plus 1.140 billion euros), primarily due to the decline in business at the Crop Science Division. At 39.620 billion euros, net financial debt as of June 30, 2023, was 9.8 percent higher than at the end of March 2023.

Crop Science sales without glyphosate at prior-year level (Fx & portfolio adj.)

Sales in the agricultural business (Crop Science) fell by 18.5 percent (Fx & portfolio adj.) to 4.924 billion euros, mainly driven by lower volumes and prices for glyphosate-based products. This effect particularly impacted business in North and Latin America as well as in Europe/Middle East/Africa, and resulted in a 45.6 percent decrease in sales (Fx & portfolio adj.) at Herbicides. Excluding the glyphosate business, Crop Science sales were level with the previous year (Fx & portfolio adj.), as higher prices were offset by lower volumes. Sales at Corn Seed & Traits rose by 10.6 percent (Fx & portfolio adj.), largely thanks to higher prices in all regions as well as increased acreages in North America. Business at Fungicides was level with the prior-year quarter (Fx & portfolio adj.). Sales at Soybean Seed & Traits were down 9.3 percent (Fx & portfolio adj.), mainly due to decreased acreages and a decline in license revenues in North America.

EBITDA before special items at Crop Science fell by 58.5 percent to 725 million euros, primarily due to the decline in sales of glyphosate-based products. Higher prices in the rest of the business and cost savings only partially compensated for this effect. Earnings were also diminished by a mainly inflation-related increase in the cost of goods sold and a negative currency effect of 96 million euros (Q2 2022: positive currency effect of 215 million euros).

Pharmaceuticals: new products deliver substantial growth

Sales of prescription medicines (Pharmaceuticals) came in at 4.557 billion euros, matching the prior-year level on a currency- and portfolio-adjusted basis. The division’s new products achieved significant gains: Sales of the cancer drug Nubeqa™ nearly doubled, while Kerendia™ for the treatment of chronic kidney disease associated with type 2 diabetes saw business expand more than threefold. In addition, the Radiology business continued to grow, mainly driven by gains for the CT Fluid Delivery and Ultravist™ product families. Sales of the ophthalmology drug Eylea™ also increased, with growth of 5.6 percent (Fx & portfolio adj.) driven by higher volumes in all regions and particularly in North America and Asia/Pacific. By contrast, the division recorded a decline in sales in China, partly due to tender procedures for Adalat™. On a global level, sales of the cardiovascular drug decreased by 26.1 percent (Fx & portfolio adj.). Business in China was also impacted by a decrease in demand for Aspirin™ Cardio, with global sales falling 29.3 percent (Fx & portfolio adj.). As expected, global sales of the oral anticoagulant Xarelto™ were down, with competitive pressure from generic products as well as lower prices, particularly in Asia/Pacific and Latin America, resulting in a decrease of 3.3 percent (Fx & portfolio adj.).

EBITDA before special items at Pharmaceuticals declined by 6.7 percent to 1.379 billion euros, largely due to higher R&D investments in cell and gene therapy and chemoproteomics technologies, as well as in projects in advanced clinical development. In addition, the prior-year quarter had received a significant boost from the sale of non-core businesses. There was a negative currency effect of 40 million euros (Q2 2022: positive currency effect of 41 million euros).

Consumer Health continues to grow

Sales of self-care products (Consumer Health) increased by 5.4 percent (Fx & portfolio adj.) to 1.466 billion euros compared to a strong prior-year quarter, with contributions from all regions. The division posted significant gains in the Dermatology business, with growth of 10.9 percent (Fx & portfolio adj.) driven partly by continued high demand for Bepanthen™, as well as in the Pain & Cardio category, where sales rose by 10.0 percent (Fx & portfolio adj.). In addition, sales of cough and cold products increased significantly amid a persistently strong cold season, while the allergy business expanded slightly despite a weaker allergy season due to weather-related factors. Overall, the Allergy & Cold category registered growth of 5.7 percent (Fx & portfolio adj.). The division continued to face some supply constraints in the second quarter, particularly in the Digestive Health category, where sales were level with the prior-year period (Fx & portfolio adj.). The supply situation is expected to improve in the second half of the year.

EBITDA before special items at Consumer Health increased by 1.5 percent to 335 million euros following a very strong prior-year quarter, driven by continuous operational productivity and price management measures. These efforts compensated for ongoing inflation-driven cost increases and investment in marketing innovative products. The division also recorded higher proceeds from the sale of minor, non-strategic brands. There was a negative currency effect of 31 million euros (Q2 2022: positive currency effect of 49 million euros).

Group outlook lowered on July 24

The Bayer Group lowered its outlook for full-year 2023 on July 24, mainly due to a significant further decline in sales of glyphosate-based products. When communicating its first quarter results, Bayer had already guided towards the lower end of the forecast it had previously issued. On a currency-adjusted basis (i.e. based on the average monthly exchange rates from 2022), Bayer now expects to generate sales of between 48.5 and 49.5 billion euros (initial forecast: 51 to 52 billion euros). This now corresponds to a decline of 2 to 3 percent on a currency- and portfolio-adjusted basis (initial forecast: increase of 2 to 3 percent). EBITDA before special items is now expected to come in at 11.3 billion to 11.8 billion euros on a currency-adjusted basis (initial forecast: 12.5 to 13.0 billion euros). The company now anticipates core earnings per share of 6.20 to 6.40 euros on a currency-adjusted basis (initial forecast: 7.20 to 7.40 euros). In addition, it now projects free cash flow of approximately zero euros (initial forecast: approximately 3.0 billion euros) and net financial debt of approximately 36 billion euros (initial forecast: 32 to 33 billion euros) on a currency-adjusted basis. Bayer now expects to take special items of around minus 3.5 billion euros (initial forecast: around minus 1.0 billion euros) in EBIT after adjusting for currency effects.

With respect to the divisions, the company now expects Crop Science sales to fall by around 5 percent year on year (initial forecast: increase by around 3 percent) and Pharmaceuticals sales to show a roughly 0 percent change against the prior-year level (initial forecast: increase by approximately 1 percent) after adjusting for currency and portfolio effects. The currency-adjusted EBITDA margin before special items is now projected to come in at around 21 percent at Crop Science (initial forecast: 25 to 26 percent) and approximately 28 percent at Pharmaceuticals (initial forecast: slightly above 29 percent). The forecast for Consumer Health remains unchanged, with sales growth of roughly 5 percent on a currency- and portfolio-adjusted basis, and a currency-adjusted EBITDA margin before special items of around 23 percent.

Notes:

The following tables contain the key data for the Bayer Group and its divisions for the second quarter and the first six months of 2023.

The full Half-Year Financial Report is available online at:

www.bayer.com/halfyearreport

Additional information for investors and access – from around 2 p.m. CEST – to the live broadcast of the investor conference call at: www.bayer.com/live-ic

Print-quality photos can be found online at: www.bayer.com/photo-footage

Find more information at www.bayer.com.

Follow us on twitter.com/bayer

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Bayer-Group-Second-Quarter-of-2023

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Bayer.com – https://www.bayer.com/media/en-us/second-quarter-impacted-by-declines-in-glyphosate-business/

Tags: healthquartersecond
Previous Post

31 Thanksgiving Pies You’ll Want Again for Breakfast

Next Post

Aflibercept 8 mg first to achieve sustained vision gains with more than 70% of patients extended to intervals between 16 and 24 weeks in wet age-related macular degeneration at two years

A major AI training data set contains millions of examples of personal data – MIT Technology Review

A major AI training data set contains millions of examples of personal data – MIT Technology Review

July 18, 2025
Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

July 18, 2025
To see and not be seen: Carangids hide behind sharks to prey on fish – Cattano – 2025 – Ecology – ESA Journals

Mastering the Art of Stealth: How Carangids Turn Sharks into Living Shields to Outsmart Their Prey

July 18, 2025
Science labs move ‘a hammer blow’, says MP – Yahoo

Science labs move ‘a hammer blow’, says MP – Yahoo

July 18, 2025
American science to soon face its largest brain drain in history – Big Think

America’s Science Community Confronts Its Biggest Brain Drain in History

July 18, 2025
Longhorns Daily News: Austin’s fast-paced lifestyle helped inspire former Texas WR Brenen Thompson to transfer to new school – Burnt Orange Nation

Longhorns Daily News: Austin’s fast-paced lifestyle helped inspire former Texas WR Brenen Thompson to transfer to new school – Burnt Orange Nation

July 18, 2025
China’s path to world dominance is being laid by President Trump’s policies, including in Alaska – Alaska Beacon

China’s path to world dominance is being laid by President Trump’s policies, including in Alaska – Alaska Beacon

July 18, 2025
Wall Street’s Big 7 Are Now Bigger Than China’s Entire Economy – MSN

Wall Street’s 7 Biggest Titans Now Outpace the Entire Chinese Economy

July 18, 2025
Bad Bunny, Travis Scott, Saweetie, and All the Songs You Need to Know This Week – Yahoo

Bad Bunny, Travis Scott, Saweetie, and This Week’s Must-Listen Hits

July 18, 2025
‘I just couldn’t stop crying’: How prison affects Black men’s mental health long after they’ve been released – The Conversation

I Just Couldn’t Stop Crying’: The Deep and Lasting Impact of Prison on Black Men’s Mental Health

July 18, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (727)
  • Economy (750)
  • Entertainment (21,635)
  • General (15,970)
  • Health (9,788)
  • Lifestyle (758)
  • News (22,149)
  • People (752)
  • Politics (760)
  • Science (15,967)
  • Sports (21,248)
  • Technology (15,733)
  • World (734)

Recent News

A major AI training data set contains millions of examples of personal data – MIT Technology Review

A major AI training data set contains millions of examples of personal data – MIT Technology Review

July 18, 2025
Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

Dave Portnoy unites FOX Sports and Barstool with new football, basketball coverage deal – Fox News

July 18, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version