Keywords: Bayer, Second quarter 2010 financial results

Bayer’s 2nd-qtr 2010 profits dip 1.3% on charges and write down, despite 14.6% revenue hike

Article | 30 July 2010

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Germany’s Bayer AG saw second-quarter net earnings slip 1.3% to 525 million euros ($672.9 million), as a stronger revenue was offset by one-time charges for law suits and a write down on cancer drug Zevalin (ibritumomab tiuxetan). EBITDA before special items was up 8.6% to 1.92 billion euros and core earnings per share increased 9.5% to 1.15 euros. The firm’s shares price rose 0.8% to 44.55 euros in morning trading yesterday after the figures were announced,

The maker of pharmaceuticals, specialty plastics and farm products saw revenues for the quarter rise 14.6% to 9.18 billion euros, fueled by growth in the consumer health business (up 6.4% to 4.31 billion euros) and its materials sciences division, which jumped 46.9% to 2.69 billion euros. Enjoying this article? To continue reading you need to login, take a FREE trial or subscribe.