Bayer's Q4 adj core profit down on currency effects

LEVERKUSEN, Germany Fri Feb 28, 2014 1:39am EST

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LEVERKUSEN, Germany Feb 28 (Reuters) - Bayer, Germany's largest drugmaker, posted a 3.1 percent decline in adjusted core earnings, dampened by a weak Japanese yen and emerging-market currencies, which lowered the euro value of its sales abroad.

Fourth-quarter adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) slipped to 1.77 billion euros ($2.42 billion), it said on Friday, falling short of the 1.91 billion euro average estimate in a Reuters poll.

The group said it expected adjusted EBITDA to grow by a low- to mid-single-digit percentage in 2014 and that full-year sales would be 41-42 billion euros.

Analysts on average had expected adjusted EBITDA growth of more than 10 percent and sales of 42.5 billion. ($1 = 0.7309 euros) (Reporting by Ludwig Burger; Editing by Christoph Steitz)

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