logo
Plus   Neg
Share
Email
Comment

Bayer Q1 Profit Jumps; Backs 2012 Forecast - Quick Facts

Bayer (BYR.L,BAYRY.PK,BAYZF.PK) reported first quarter net income of 1.05 billion euros or 1.27 euros per share, up from 684 million euros or 0.83 euros per share a year ago.

Core earnings per share rose to 1.68 euros from 1.45 euros a year earlier.

Sales grew 6.8% to 10.06 billion euros from 9.42 billion euros in the prior-year quarter.

"All the subgroups contributed to the encouraging increase in sales, particularly CropScience, which experienced a strong start to the season," Management Board Chairman Dr. Marijn Dekkers explained.

"In view of the good start to 2012, we are increasingly confident for the rest of the year," Dekkers added. Given the continuing uncertainties, however, he said Bayer is currently adhering to the guidance for 2012 that was issued at the end of February.

For the full year 2012, Bayer continues to forecast a currency- and portfolio-adjusted sales increase of about 3 percent. This would result in Group sales of approximately 37 billion euros based on unchanged exchange rate assumptions.

Bayer continues to plan a slight improvement in EBITDA before special items. This will be driven by HealthCare and CropScience, while earnings at MaterialScience are likely to be flat with 2011 in view of the currently difficult market conditions. Bayer also plans to slightly increase core earnings per share.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After months of bickering, Aurora Cannabis and CanniMed Therapeutics are moving close to a game-changing merger in Canada's red-hot marijuana sector. The big hangup was Aurora's insistence that CanniMed not overpay for smaller rival NewStrike. However, Aurora in its urgency to get the deal done... Budweiser, which has been reigning as the 'king of beers' is now number 4 in sales in U.S. Budweiser lost to Miller Lite in 2017, according to Beer Marketer's Insights, the publication focused on beer industry statistics. Activist investor Bill Ackman's hedge fund Pershing Square Capital Management L.P. is cutting ten employees from its workforce, according to media reports, citing people with knowledge of the matter. The job cuts on Friday have reportedly brought the New York-based company's head count down to 46 and were mostly in the hedge fund's back-office and support staff.
comments powered by Disqus
Follow RTT