Bayer sees strong third-qtr sales and earnings growth

30 October 2014

Reporting third-quarter 2014 financials this morning, German pharma major Bayer (BAYN: DE) said group sales for the period were 10.19 billion euros ($12.91 billion), up 5.6% (Fx & portfolio adjusted plus 7.4%), with advances in all subgroups – double-digit percentage growth for CropScience and the Pharmaceuticals Division

Earnings before interest, taxes, depreciation and amortization (EBITDA) before special items increased 1.4% to 2.01 billion, just beating the average estimate of 1.96 billion euros in a Reuters poll. EBIT improved 12.7% to 1.38 billion. Net income advanced 12.7% to EUR 826 million euros, with core earnings per share up 6.3% to 1.35 euros.

Bayer’s shares, which had already advanced 8.2% over the past three months, outperforming the STOXX Europe 600 Health Care index's 2.6% increase, as investors welcomed the company's plan to float off its material sciences division, gained a further 2.7% to 110.77 euros in early trading.

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