Bayer CropScience Sales Rise on Latin America, Africa, Middle East
4 March 2015 Bayer CropScience said its sales for 2014 rose 7.7% to $10.54 billion as new products and Latin America, Africa and Middle East drove business.
“CropScience gained market share, with all business groups and regions contributing to the subgroup’s pleasing performance,” Chairman Dr. Marijn Dekkers said. The business registered the strongest growth in Latin America/Africa/Middle East, where sales were up by 20.6% adjusted for foreign currencies. Business in North America also expanded by a double-digit percentage (plus 10.2%) on a currency-adjusted basis, followed by Europe and Asia/Pacific at 7.4% and 5.5%, respectively.
The positive development of Crop Protection was driven above all by new products (launched since 2006), sales of which climbed by around 23% on a reported basis to more than $2 billion. Fungicides posted double-digit growth of 15.9% on an adjusted basis. Development was also registered by herbicides at 8.5%, insecticides at 7.6%and SeedGrowth at 8.4%. Sales in the Seeds business also rose substantially at 19.5%. Business with cotton seed saw especially positive development. Sales of Environmental Science advanced by 6.9%.
EBITDA before special items of CropScience improved by 5% to $2.6 billion. The earnings contributions from the very positive business development – marked by considerable volume gains and higher selling prices – were partially offset by higher R&D and selling expenses and negative currency effects of around $56 million, Bayer CropScience said.
Get The Newsletter Today!
