CAPTION: After going deeply into the red in 2020, the German agrochemicals and pharmaceuticals group Bayer has returned to profitability.(picture alliance/Geisler-Fotopress)
After going deeply into the red in 2020, the German agrochemicals and pharmaceuticals group Bayer has returned to profitability. Last year, a consolidated profit of 1 billion euros was achieved, the company announced at its headquarters in Leverkusen on Tuesday. In 2020, Bayer had faced a loss of 10.5 billion euros and thus the biggest loss in its corporate history. This was mainly due to provisions for lawsuits in the United States over alleged glyphosate cancer risks and high write-downs on the company’s agricultural business.
Now the annual figures look much better, although profits are still below the figure for 2019: At that time, the company had seen 4.1 billion euros in consolidated profits.
The group, which has approximately 100,000 employees, saw sales increase by 6.5 percent to 44.1 billion euros in 2021. This figure also shows that things are looking up for the Leverkusen-based company: A year ago, sales were down 4.9 percent.
In the meantime, times have changed, and the demand for seeds and crop protection products has picked up. More business was also generated with prescription medicines and over-the-counter preparations.
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