BERLIN, March 1 (Xinhua) -- German pharmaceutical giant Bayer posted a profit of 1.0 billion euros (1.12 billion U.S. dollars) in 2021, after announcing record losses of 10.5 billion euros the previous year, the company said on Tuesday.
Adjusted group sales increased by 8.9 percent year-on-year to 44.1 billion euros, the company said. At the same time, earnings before interest, taxes, depreciation, and amortization (EBITDA) before special items declined by 2.5 percent to 11.2 billion euros.
However, the company's earnings before interest and taxes (EBIT) of 3.4 billion euros continued to be impacted by special charges of almost 4 billion euros from litigations regarding weedkillers such as glyphosate. In 2020, Bayer paid more than 23 billion euros in litigations.
Following the announcement, shares of Bayer rose by more than 3 percent, making it one of the biggest winners in Germany's bluechip DAX index at late trading on Tuesday. (1 euro = 1.12 U.S. dollars) ■
