Bayer announces full year 2021 results
Bayer AG (Bayer) released their 2021 Annual Report, which highlights their financial performance over the past year along with forward looking statements. In 2021, the company stated that group sales totaled 44.1 billion euros, up 8.9% year over year. Within this, the Crop Science division experienced double-digit sales growth while Pharmaceuticals experienced slight declines, attributed to extensive forward-looking investments. Overall, the company stated that despite the challenging conditions brought by the COVID-19 (coronavirus) pandemic, Bayer had a successful year with business performing markedly better than expected in all divisions.
Structural|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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