Germany's Bayer became the latest agricultural supplies company to be affec...
The so-called 'Chempark', the main plant and headquarters of German pharmaceutical and chemical maker Bayer AG is pictured along the river Rhine in Leverkusen, Germany, July 3, 2019. REUTERS/Thilo Schmuelgen
FRANKFURT - Germany’s Bayer became the latest agricultural supplies company to be affected by flooded farms in the United States and by trade disputes, saying its full-year earnings target has become harder to reach. The company said in a statement on Tuesday it was still aiming for an increase in 2019 earnings before interest, taxes, depreciation and amortization before special items to about 12.2 billion euros , excluding the effect of currency swings and the planned sale of assets such as the animal health unit.
“However, this outlook is becoming increasingly ambitious in view of the challenging environment for the Crop Science business,” it added. It also reported second-quarter sales and adjusted EBITDA that were broadly in line with market expectations.
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