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 Oct. 31, 2012 Source: Bayer news release To view entire report, click here. The Bayer Group remains on a path of growth. "The upward trend in our life science businesses - HealthCare and CropScience - continued in the third quarter of 2012," Management Board Chairman Dr. Marijn Dekkers said Tuesday following the publication of the interim report. HealthCare, particularly the Pharmaceuticals business, gained further growth momentum. At CropScience, the strong business development seen in the first half of the year continued unabated, and MaterialScience also registered good quarterly sales. CropScience continues strong development seen in the first half "Our agricultural business maintained nearly the same momentum as in the first half," said Dekkers. The CropScience subgroup raised sales by 19.0 percent (Fx & portfolio adj. 12.8 percent) to EUR 1,641 million (Q3 2011: EUR 1,379 million). Sales growth was especially brisk in Europe and North America, but business also expanded by a double-digit percentage in Latin America/Africa/Middle East. Business was supported by the positive market conditions, with continuing high prices for agricultural commodities. The Crop Protection business developed positively in all product groups and regions. SeedGrowth - the business with seed treatment products - showed a particularly strong increase of 23.7 percent (Fx & portfolio adj.). The Fungicides business also developed very successfully (Fx & portfolio adj. plus 15.5 percent). Insecticides sales also advanced by a substantial 7.5 percent, while sales of Herbicides increased by 4.3 percent (Fx & portfolio adj.). The Seeds business expanded by a substantial 39.1 percent (Fx & portfolio adj.). The increase was driven by sales in North America, especially of canola seed. Sales of vegetable seeds were level with the previous year. Sales of the Environmental Science business unit rose by 8.8 percent (Fx adj.). EBITDA before special items of CropScience increased by 14.5 percent to EUR 189 million (Q3 2011: EUR 165 million). This was attributable above all to higher volumes and to favorable currency effects. The progress made with efficiency improvement programs also had a positive impact on earnings. However, manufacturing and selling expenses increased. Tweet |
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