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Bayer Sees Upward Trend in Q3

Wednesday, October 28, 2009

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The Bayer Group (Leverkusen, Germany), which supplies products to the coatings and other industries, reported that its third quarter EBITDA before special items edged up by 0.4% year on year to €1.499 billion while Q3 sales fell by 7% to €7.392 billion compared to 2008.

Earnings in the MaterialScience group improved considerably. According to Management Board Chairman Werner Wenning, EBITDA before special items nearly doubled compared to the second quarter, reaching €238 million in the third quarter, compared to €121 million in the second. The coatings, adhesives, and specialties unit sales fell by 13.1%; business with raw materials for foams (polyurethanes) shrank by 24.6% year on year; high-tech materials sales were down 20%; and sales of high performance plastics (polycarbonates) decreased by 19.6%.

The HealthCare group saw sales and earnings increase over 2008. Sales were up by 3.5%, reaching €3.936 billion. EBITDA before special items was up by 12.1% to €1.141 billion. CropScience declined in the third quarter by 8.7% compared to last year. Sales dipped from €1.248 billion to €1.140 billion.

The company says that net financial debt declined by €1 billion in the third quarter, net cash flow rose by 22.9% to €1.517 billion year on year, and net income decreased by 25.2% to €1.206 billion compared to Q3 2008.

   

Tagged categories: Bayer; Earnings reports; Finance

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