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The "Chempark", the main factory and headquarters of the German pharmaceutical and chemical manufacturer Bayer AG, is photographed along the Rhine in Leverkusen, Germany, on 3 July 2019. REUTERS / Thilo Schmuelgen
FRANKFURT (Reuters) – Germany, Bayer, is the latest agricultural supplies company to be affected by farm floods in the United States and trade disputes, saying its annual income target has become harder to reach.
In a statement released on Tuesday, the company was still aiming to increase earnings before interest, taxes, depreciation and amortization (EBITDA) before 2019 by one-time items to about 12.2 billion euros ($ 13.6 billion), excluding the impact of currency fluctuations and the expected sale of badets such as animal health unit.
"However, this perspective becomes more ambitious in view of the difficult context in which the company" Crop Science "is located," he added.
The group also posted second-quarter adjusted revenue and EBITDA in line with market expectations.
Report by Ludwig Burger; Edited by Tbadilo Hummel
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