Bayer publishes results showing ‘continued growth’

Bayer has published its financial results for the second quarter of the 2007 fiscal year, with the firm reporting a 22 per cent rise in sales to 8,217 million euros (5,588.4 million pounds).

EBITDA before special terms for the quarter reached 1,806 million euros, a rise of 38.6 per cent on the same period last year, while the operating result grew by 30.1 per cent to 1,185 million euros.

The strongest increases in sales at the Bayer group were seen in its healthcare division, with growth of 64.7 per cent to 3,717 million euros, with this rise attributed to robust performance in both consumer health and pharmaceuticals.

Werner Wenning, chief executive officer of Bayer, said: “The Bayer group had a very good second quarter in 2007, following the excellent start to the year.

“We remain confident about the development of our business in the second half.”

He added that the firm would be targeting the goal of a double-digit increase in group sales for the full year, with a five per cent expansion in business adjusted for currency and portfolio effects.

Last month, Bayer announced an extension to the scope of its sustainability reporting, in addition to enhancing its commitment to sustainability itself.