Bayer : Q1 due 10 May – Upside to FY 2022 guidance on FX, CropScience
>Estimating a good quarter across all divisions - We estimate a strong Q1 for Bayer with sales having been up by 11.1% y-o-y and adj. EBITDA by 13.6% y-o-y. This will have been helped by a FX tailwind of an estimated 4% y-o-y on sales and expanding margins at CropScience (+180bp y-o-y; detailed comment see below) due to pricing effects. Pharma will have shown a solid performance, according to our model, with an c. 10% y-o-y sales growth estimated (+6% y-o-y ex FX). Ad...Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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