Bayer closed the first quarter of 2013 with lower margins than analysts' expectations. The pharmaceutical company's EBITDA rose by 0,4% to 2,45 billion euros against 2,59 billion expected by the consensus. The result was affected by the increase in costs for materials.
Turnover increased by 2,1% to 10,3 billion euros while net profits rose by 11,5% to 1,16 billion. The German pharmaceutical group confirmed its annual guidance for adjusted Ebitda expected to increase by 5% and for revenues expected to grow by 4-5%.
