Bayer 2013 outlook slightly below market view

FRANKFURT Thu Feb 28, 2013 1:36am EST

Related Topics

FRANKFURT Feb 28 (Reuters) - Germany's largest drugmaker Bayer gave a 2013 underlying earnings outlook that was slightly below analyst expectations amid fresh competition for one of its most promising new drugs.

Bayer, which celebrates its 150th anniversary this year, said it expected growth in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) in the mid single-digit percentage range, where analysts had seen a gain of about 8 percent.

Fourth-quarter adjusted EBITDA rose 18.4 percent to 1.825 billion euros ($2.39 billion), in line with the average estimate in a Reuters poll.

Quarterly sales of 9.86 billion euros were slightly above expectations. ($1 = 0.7628 euros) (Reporting by Ludwig Burger and Frank Siebelt)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video