Bayer back on the uptrend: renewed year-on-year growth in underlying EBITDA in the third quarter of 2009, Bayer Healthcare

Release Date: 2009-10-27

HealthCare again strong – weak quarter at CropScience – MaterialScience substantially improved / Group sales EUR 7,392 million (minus 7.0 percent) / EBITDA before special items EUR 1,499 million (plus 0.4 percent) / Net income EUR 249 million (minus 10.1 percent) / Net cash flow EUR 1,517 million (plus 22.9 percent) / Full-year Group forecast confirmed
Leverkusen, October 27, 2009 – In the third quarter, the Bayer Group achieved a slight year-on-year increase in underlying earnings for the first time this year. “We are very pleased to have reversed the earnings trend despite the fact that many industries are still suffering from the economic crisis,” said Management Board Chairman Werner Wenning when the interim report was published on Tuesday. “We are still adhering to our ambitious full-year forecast for the Bayer Group,” he added. Wenning explained that HealthCare and MaterialScience contributed to the positive performance in the third quarter. The HealthCare subgroup again turned in a strong performance, with year-on-year increases in sales and earnings. MaterialScience nearly doubled earnings compared with the second quarter, almost reaching the prior-year level. At CropScience, on the other hand, third-quarter earnings receded markedly against the prior-year period. This subgroup’s target margin for 2009 has therefore been adjusted.

Sales of the Bayer Group receded by 7.0 percent in the third quarter, to EUR 7,392 million (Q3 2008: EUR 7,948 million). Adjusted for currency and portfolio effects (Fx & portfolio adj.), sales were down by 7.2 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) before special items edged up by 0.4 percent year on year to EUR 1,499 million (Q3 2008: EUR 1,493 million). The operating result (EBIT) before special items declined by 6.1 percent to EUR 837 million (Q3 2008: EUR 891 million).
Type: NORMAL
Company: Bayer Healthcare
Country: Germany
 
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