Bayer Aims to Grow Sales, Profitability in All Divisions Through 2022
December 05 2018 - 4:24AM
Dow Jones News
By Max Bernhard
Bayer AG (BAYN.XE) said Wednesday that it is aiming to increase
sales and profitability across all its divisions through 2022.
The company said it aims to grow sales about 4% in 2019 and
between 4% and 5% annually on average from 2020 and 2022. It also
aims to grow adjusted earnings before interest, taxes,
depreciation, and amortization by 9% per year on average through
2022, the company added.
Bayer last week said it would cut 12,000 jobs and sell its
animal-health business, Coppertone and Dr. Scholl's operations, as
the company faces challenges in many businesses and thousands of
lawsuits related to weedkillers it recently acquired as part of
Monsanto.
Between 2019 and 2022, Bayer said it targets free cash flow of
about EUR23 billion. It plans to use its funds to further increase
its dividend and finance "selective bolt-on acquisitions," the
company added.
"We will also explore the option of utilizing a significant
portion of the divestment proceeds for share buybacks," said Chief
Financial Officer Wolfgang Nickl."
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
December 05, 2018 04:09 ET (09:09 GMT)
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