Bayer asserts its 2008 operations were successful

Bayer had one its most successful years in 2008 from an operational standpoint, it has stated.

This comment came from the management board chairman Werner Wenning at the Spring Financial News Conference in Leverkusen.

Sales increased by 1.6 per cent to 32.92 million euros (29.5 million pounds) for the last financial year. However, its net income decreased from 4.7 million euros in 2007 to 1.7 million euros in 2008.

Mr Wenning continued to note that the group’s corporate strategy has proved to be effective in a difficult environment, as its life-science business HealthCare and CropScience were less dependent than others on the global economic climate.

Looking forward at the next 12 months, he expressed confidence.

“We expect further growth in earnings at HealthCare and CropScience, along with a substantial reduction in net debt.”

Last month, Bayer’s board of directors accepted the proposal to increase dividends by 3.7 per cent to 1.40 euros per share.

Mr Wenning said the company wanted its stockholders to share and participate appropriately in the business’ success.

Bayer works in the fields of nutrition, healthcare and high-tech materials.