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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

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Bayer : Temasek Form New Company Focused on Vertical Farming

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08/12/2020 | 04:15am EDT

By Giulia Petroni

 

Bayer AG Wednesday said its impact investment arm Leaps by Bayer made a joint investment with Singapore-based Temasek Holdings to form a new company focused on vertical farming.

The German pharmaceutical and chemical conglomerate said the new venture, which is called 'Unfold', will be focused on innovating vegetable varieties to improve the quality, efficiency and sustainability of vertical farming.

The company will be led by Chief Executive John Purcell--currently head of vegetables research and development at Bayer's Crop Science--and headquartered in the Davis area, California. Commercial, research and development operations will be located in both California and Singapore.

Bayer said the company "raised $30 million in the initial funding round and entered into an agreement for certain rights to germplasm from Bayer's vegetable portfolio."

Vertical farms are indoor farms or plant facilities with artificial light allowing the growth of fresh, local produce.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

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Financials
Sales 2020 43 305 M 50 796 M 50 796 M
Net income 2020 -2 690 M -3 155 M -3 155 M
Net Debt 2020 32 651 M 38 299 M 38 299 M
P/E ratio 2020 -16,1x
Yield 2020 5,24%
Capitalization 53 257 M 62 523 M 62 469 M
EV / Sales 2020 1,98x
EV / Sales 2021 1,90x
Nbr of Employees 101 168
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 78,72 €
Last Close Price 54,21 €
Spread / Highest target 103%
Spread / Average Target 45,2%
Spread / Lowest Target -15,1%
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Managers
NameTitle
Werner Baumann Chairman-Management Board
Norbert Winkeljohann Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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