News

Strong Euro, restructuring charges take Bayer into the red in third quarter

14/11/2003

The German chemicals and pharmaceuticals giant Bayer has posted a net loss of Eur123 million, ($141 million) for the third quarter, citing one-off restructuring charges and poor sales by its chemicals and polymers divisions.  This compares with a net profit of Eur656 million a year earlier.  The company also blamed the strength of the Euro, saying this had depressed US earnings which are reported in Euros.  Analysts were expecting a net loss of Eur68-166 million.

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