German diversified group Bayer said on Tuesday it was aiming for a 7% increase in adjusted core earnings at constant foreign exchange rates this year as an upswing in demand for its seeds and pesticides is partly offset by investments in new genetic treatment technologies.

Earnings before interest, tax, depreciation and amortisation (EBITDA) before special items should reach 12 billion euros ($13.4 billion) in 2022, when adjusted for currency swings, up from 11.18 billion euro last year, the German company said in a statement on Tuesday.