Rebound at Bayer's agriculture unit blighted by forex headwinds

FRANKFURT, May 12 (Reuters) – Bayer’s first-quarter adjusted core earnings slipped 6.2% as weak overseas currencies offset a rebound in demand for its agricultural supplies.

Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs declined to 4.12 billion euros ($5.00 billion), it said on Wednesday, well ahead of an analyst consensus of 3.82 billion euros posted on the company’s website.

Chief Executive Werner Baumann told investors at the April annual general meeting that prospects for its agriculture business have brightened during the first quarter as demand from farmers improved amid higher produce prices.

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