Report
Martial Descoutures

Bayer : The expected strong finish to FY 2021, first FY 2022 outlook looks good

>Good quality of Q4 2021 results - Bayer had the estimated strong finish to FY 2021 with Q4 sales of € 11.12bn (+12% y-o-y; 6% better than our forecast and Vara consensus) and an adjusted EBITDA of € 2.4bn in Q4 (in-line with the consensus, 2% above our forecast). Consumer Health performed about in-line on both sale and adj. EBITDA, Pharma (+10.6% y-o-y on sales; 6-7% better than we and the consensus expected; adj. EBITDA margin about in-line with our forecast, below ...
Underlying
Bayer AG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Martial Descoutures

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