Bayer drops back on the predictions for 2017 because of Brazil

The German pharmaceutical and chemical group Bayer, who expects to close soon the American Monsanto purchase, revised down its annual forecasts, mainly because of the difficulties in your activity of plant protection products in Brazil.
For 2017, Bayer expects a turnover of more than 49 billion euros ", against the 51 billion euros foreseen until now. In addition, safe exceptional elements, anticipates a high EBITDA of between 5% and 10% year-to-year, against 10% estimated floor previously.
Agrochemical Crop Science Division, "we recorded a clear setback of turnover and profits right relation to important reservations in Brazil, the second-largest agricultural market in the world," says the CEO of Bayer, Werner Baumann, quoted in the statement.