German company Covestro brings Bayer 2 billion euros
Bayer International announced a decrease in sales in the third trimester of the year, from July to September, by 2.8% compared with the same period last year. Such financial indicators negatively affected the concern's share in the German Covestro, reducing them.
Despite the significant difference between 8.025 billion euros this year and 8.258 billion euros in the past, the situation has improved. Given the large difference in exchange rates and some asset sales, this year's figures rose 1.2% compared to the third trimester of last year.
The company's net profit also increased significantly - by about 227%. Last year, from July to September, net profit was 1.187 billion euros, while this year, profit increased to 3.881 billion euros.
Part of this year’s net profit is also EUR 2.8 billion from the deconsolidation of Covestro and the presentation of this company as an associate. Comparing the net cash flow, there are clear declines — from 3.053 billion euros last year to 2.7 billion this year.
Bayer debt for the third trimester halved, amounting to 4.7 billion euros due to the sale of shares in Covestro. After the sale of the shares, the company's share in Covestro is 24.6% and intends to sell more assets.
