Bayer posts Q2 EPS of €1.62, up 5.9% YoY

Tuesday, 30. July 2019 07:35

Bayer AG reported on Tuesday its second-quarter earnings per share (EPS) from continuing and discontinued operations of €1.62, which was 5.9% higher than in the same period last year. Group sales increased by 0.9% year-on-year to €11.48 billion. EBITDA surged 24.7% to €2.93 billion, while EBIT declined 31.2% to €926 million. Net income fell 49.1% to €404 million as free cash flow tumbled 60.8% to €751 million. Net financial debt rose 5.6% to €38.81 billion.

Bayer's agriculture business Crop Science sales were up 59%, thanks mainly to the acquisition of Monsanto. After adjusting for currency and portfolio effects however, sales were down 3.1% as extreme weather conditions and ongoing trade disputes significantly impacted the business. Pharmaceuticals and Consumer Health posted strong growth, while Animal Health saw slight business decline following strong prior-year quarter.

"Bayer is on track in its operational business. Sales at Crop Science were primarily held back by the extreme weather conditions in North America, while at Pharmaceuticals we recorded encouraging growth." company chairman Werner Baumann said in the press release. Outlook for 2019 was confirmed but "increasingly ambitious."

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