CropScience Helps Push Bayer’s Third Quarter Growth
31 October 2014 
The Bayer Group’s third quarter growth was buoyed by the company’s HealthCare and CropScience divisions. The earnings do not take into account the recent announcement to acquire DuPont’s land management portfolio of products.
Sales of the Bayer Group rose by 5.6% in the third quarter of 2014 to $12.97 million (EUR 10.187 million) an increase of $690,000 (EUR 544,000) over the same quarter last year. Adjusted for currency and portfolio effects, sales grew by 7.4%. EBIT rose by 12.7% to $1.75 million (EUR 1.376 million).
“We saw robust sales growth for our recently launched pharmaceutical products and in our CropScience business in North and Latin America,” said Bayer Management Board Chairman Dr. Marijn Dekkers.
Bayer CropScience sales increased in the third quarter by 12.7% to $2.46 million (EUR 1.929 million). “Both Crop Protection/Seeds and Environmental Science contributed to this encouraging growth,” said Dekkers. Sales climbed by 23.2% in North America and by 19.3% in Latin America/Africa/Middle East. Sales in Asia/Pacific were at the level of the prior-year quarter.
All units of crop protection developed positively. The fungicides and herbicides units posted double-digit growth rates, at 16.5 and 15.8%, respectively, while sales at Insecticides and SeedGrowth continued to increase. The new Crop Protection products launched since 2006 again contributed significantly to the positive sales development in the third quarter. CropScience nearly doubled sales in the seeds business. Sales of cotton seed developed especially positively. Sales of Environmental Science advanced by 7.9%. Consumer products registered strong gains, while business with products for professional users also posted an increase.
Read more about Bayer’s earnings here.
Get The Newsletter Today!
