Bayer confident growing business performance

Bayer confident of growing business performance

4:58 PM, 7th June 2011
Bayer confident of growing business performance
Dr Marijn Dekkers, Management Board Chairman, at the financial news conference

 

The company reported that group targets were achieved and MaterialScience has a strong year, while HealthCare and CropScience were below expectations. The net income diminished by high special charges and strong operating cash flow – net financial debt below EUR 8 billion. Overall the results reflected confidence for 2011 and about EUR 15 billion investments planned for the future through 2013. Also the proportion of female managers was set to grow toward 30 per cent by 2015.

 

LEVERKUSEN, GERMANY: Bayer achieved its targets for the group in 2010 as shown by the results. “2010 was a good year for us overall. We posted sales of EUR 35.1 billion, the highest figure in the company’s history. We are confident for this year, which has gotten off to a successful start,” said Dr Marijn Dekkers Management Board Chairman, Bayer at the financial news conference.

 

According to Dekkers, 2010 was marked by factors the company could not have predicted. Dekkers expressed optimism for the company’s continuing development: He said Bayer plans to invest substantial sums in its future during the next three years. The company aims to spend for capital expenditures of EUR 1.5 billion for property, plant and equipment and EUR 0.3 billion for intangible assets. Bayer expects its R&D expenditures to match the record level of 2010 (EUR 3.1 billion). Sales of the Bayer Group climbed by 12.6 per cent in 2010 to EUR 35,088 million (2009: EUR 31,168 million).

 

The company sees positive future perspectives for the company’s business performance. “It remains to be seen how the global economy will develop once the stimulus programs expire in numerous countries. In any case, we are confident for this year,” said Dekkers. Provided that the economy steadily improves, he expects to see growth in sales and EBITDA before special items in all subgroups in 2011. For the full year 2011, Bayer expects to see currency- and portfolio adjusted sales growth of between 4 and 6 per cent for the group as a whole. Group sales are therefore expected to come in at between EUR 35 billion and EUR 36 billion.

© WOC News

 


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