Quarter in red for Bayer

Germany-based Bayer has announced today its second quarter financial results. Sales of the Leverkusen-based group increased by 8.5% to €9.48bn, with a €2.34bn (+3.9%) EBITDA. Quite positive results came from the Crop Science division, whose sales were up 21% and whose EBITDA was up by 99%, also thanks to contribution by the acquired Monsanto. Not so good results, by contrast, came from the Pharmaceuticals division, whose sales increased by 3%, and whose EBITDA decreased by 8%. The same Consumer Health division has reported losses, indeed its revenues decreased by 1% and its EBITDA by 19%. Its shares immediately reacted by declining 3.2% (Frankfurt) as trading opened, then partially rebounded. Performances from  Xarelto (+10%) and Eylea (15%) were disappointing and fairly below analysts’ expectations. Indebtedness reached €37bn, despite recent dismissals, aimed at offsetting the expensive takeover of Monsanto, paid €63bn.

(Source: Bayer)