Solid 2nd-qtr results from Bayer exceed expectations

31 July 2013

German pharma and chemical major Bayer (BAYN: DE) today (July 31) reported second-quarter 2013 results with 1.9% growth in group sales to EUR 10.36 billion euros ($13.74 billion). Group earnings before interest and tax (EBIT) rocketed 73.9% to 1.29 billion euros. EBIT before special items grew 2.7% to 1.54 billion euros. The news pushed Bayer’s shares up 2.6% to 86.54 euros in early trading.

Net income came in at 841 million euros (+74.8%) and core earnings per share were 1.54 euros (+6.2%). Second-quarter adjusted earnings before interest, taxes, depreciation, amortization (EBITDA) and special items rose 1.2% to 2.2 billion euros, broadly in line with the average estimate in a Reuters poll of 2.16 billion euros.

HealthCare subgroup sales grew 3.8% to 4.80 billion euros, driven by pharmaceuticals sales growth of 5.5% to 2.83 million euros and consumer health segment sales growth of 1.4% to 1.97 billion euros. CropSciences business sales grew 5.1% to 2.39 billion euros and high-tech material sciences sales grew 2.7% to 2.875 billion euros.

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