The Bayer Group significantly raised sales and underlying earnings in the third quarter of 2010. “We are pleased that our third-quarter results showed an improvement on last year, and we remain confident for the full year 2010,” Management Board Chairman Dr. Marijn Dekkers said on Thursday following the publication of the interim financial report.
MaterialScience contributed particularly to the positive business trend in the period from July to September. CropScience also grew sales and improved its operating performance. HealthCare sales held steady, with earnings slightly below the prior-year period. Exchange rates had a positive effect on earnings, especially at HealthCare and CropScience.
Sales of the Bayer Group rose by 16.1 percent in the third quarter, to EUR 8,581 million (Q3 2009: EUR 7,392 million). Adjusted for currency and portfolio effects, business expanded by 8.4 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA) – before special items – improved by 10.5 percent to EUR 1,656 million (Q3 2009: EUR 1,499 million). The increase was due especially to the sharp rise in earnings at MaterialScience and also to positive currency effects. The operating result (EBIT) before special items advanced by 18.5 percent to EUR 992 million (Q3 2009: EUR 837 million).