The Bayer Group has posted a 3.6% decline in net sales for the full year 2003 to €28.6 billion, and for the first time in its history a loss in profits of €1.4 billion.

Werner Wenning, chairman of the board of management, attributed the loss to charges incurred at the end of 2003 in connection with the strategic realignment and restructuring of the company’s portfolio.

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