Bayer's (BYR.L,BAYRY.PK,BAYZF.PK) second-quarter 2012 Group net income slid to 0.49 billion euros or 0.60 euros per share from 0.75 billion euros or 0.90 euros per share in the year-ago quarter. Core earnings per share were 1.47 euros, higher than last year's 1.29 euros.
Net income for the Bayer Group in the recent quarter was impacted by special items of 0.8 billion euros, that included risk provisions of 0.5 billion euros for litigations, the company added.
Bayer Group's quarterly sales grew 10.0 percent in the second quarter, to 10.18 billion euros from 9.25 billion euros in the previous year. The currency- and portfolio-adjusted increase was 5.0 percent.
While the company remains confident for the second half of the year, it now sees full-year 2012 currency- and portfolio adjusted sales increase of between 4 and 5 percent, compared with the previous estimate of 3 percent. This would result in Group sales of between about 39 billion euros and 40 billion euros for 2012, versus its prior expectation of 37 billion euros.
Bayer currently intends to increase EBITDA before special items by a high-single-digit percentage, also anticipating to raise core earnings per share by about 10 percent.
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by RTT Staff Writer
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