Financial News Conference on fiscal 2010

Bayer: operating performance on track

Presenting the Annual Report 2010 at the Financial News Conference: Management Board Chairman Dr. Marijn Dekkers (l.) and Chief Financial Officer Werner Baumann
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Bayer achieved its targets for the Group in 2010. “2010 was a good year for us overall,” said Management Board Chairman Dr. Marijn Dekkers today at the Financial News Conference in Leverkusen. “We posted sales of EUR 35.1 billion, the highest figure in the company’s history.” According to Dekkers, 2010 was marked by factors the company could not have predicted. In particular, the MaterialScience subgroup returned nearly to pre-crisis levels more quickly than expected. Currency changes also had a positive impact. On the other hand, the business performance of the CropScience and HealthCare subgroups was below expectations. Dekkers expressed optimism for the company’s continuing development: “We are confident for this year, which has gotten off to a successful start.” He said Bayer plans to invest substantial sums in its future during the next three years. The company aims to spend some EUR 15 billion for research and development and for property, plant and equipment through 2013.

Sales of the Bayer Group climbed by 12.6 % in 2010 to EUR 35,088 million (2009: EUR 31,168 million). Adjusted for currency and portfolio effects (Fx&p adj.), sales were up by 8.0 %. Earnings before interest, taxes, depreciation and amortization (EBITDA) – before special items – rose by 9.7 % to EUR 7,101 million (2009: EUR 6,472 million). The operating result (EBIT) before special items advanced by 18.0 % to EUR 4,452 million (2009: EUR 3,772 million).
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