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July 31, 2011

Bayer Sees Sales and Operating Results Rise Again

Bayer Group's sales edged closer to the €10bn ($14.4bn) mark, rising 0.8% over last year's figure to €9.25bn ($13.36bn). The company's earnings before interest and tax increased 25.9% to €1.27bn ($1.83bn), with Bayer citing performance in emerging markets as making an

By cms admin

Bayer Group’s sales edged closer to the €10bn ($14.4bn) mark, rising 0.8% over last year’s figure to €9.25bn ($13.36bn).

The company’s earnings before interest and tax increased 25.9% to €1.27bn ($1.83bn), with Bayer citing performance in emerging markets as making an above average contribution to the figures.

Bayer was hit, however, by special items contributing a loss of €144m ($208m) despite UK pension adjustments resulting in a €35m ($50.6m) income, with particular blame placed upon the restructuring of the company’s CropScience and HealthCare businesses.

Net financial debt also grew from €7.1bn ($10.26bn) to €7.4bn ($10.69bn) due to high expenditure for the company’s dividend, variable compensation and interest payments.

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