Home / Knowledge / News / Textiles / Bayer Group EBIT advances 25.6% in 2013
Bayer Group EBIT advances 25.6% in 2013
28
Feb '14
The Bayer Group continued its successful course in 2013. “We met important business objectives in our anniversary year,” said Management Board Chairman Dr. Marijn Dekkers on Friday at the Financial News Conference in Leverkusen. 
 
There was continuing momentum in the Life Science businesses: HealthCare achieved pleasing gains with its recently launched pharmaceutical products, while CropScience was very successful in a positive market environment. Overall, Bayer achieved its operational targets in the Life Science businesses despite substantial negative currency effects. The business of MaterialScience continued to be affected by a difficult market situation. “We are optimistic for 2014 and plan further growth in sales and earnings,” Dekkers said.
 
Sales of the Bayer Group climbed by 1.0 percent in 2013 to EUR 40,157 million (2012: EUR 39,741 million). “This is a new record in our company’s 150-year history,” said the Management Board Chairman. Adjusted for currency and portfolio effects (Fx & portfolio adj.), sales grew by 5.1 percent. EBIT rose by 25.6 percent to EUR 4,934 million (2012: EUR 3,928 million). Earnings were diminished by net special charges of EUR 839 million (2012: EUR 1,711 million). 
 
The special charges mainly included EUR 358 million in restructuring expenses and EUR 276 million in additional charges related to legal claims. EBIT before special items advanced by 2.4 percent to EUR 5,773 million (2012: EUR 5,639 million), while EBITDA before special items rose by 1.5 percent to EUR 8,401 million (2012: EUR 8,280 million). 
 
Negative currency effects diminished Group earnings by about EUR 260 million overall. In addition, expenses for long-term stock-based compensation increased by EUR 70 million in light of the pleasing market performance of Bayer stock. Net income grew by 32.7 percent to EUR 3,189 million (2012: EUR 2,403 million), and core earnings per share advanced by 5.8 percent to EUR 5.61 (2012: EUR 5.30).
 
Gross cash flow climbed by 28.0 percent to EUR 5,832 million (2012: EUR 4,556 million), mainly because of the improvement in EBIT. Net cash flow moved ahead by 14.2 percent to EUR 5,171 million (2012: EUR 4,530 million), while net financial debt fell by EUR 0.3 billion against December 31, 2012, to EUR 6.7 billion. 
 
“Due to the strong cash flow, we were able to slightly reduce debt despite high capital expenditures and the acquisitions of Conceptus and Steigerwald,” explained CFO Werner Baumann.

Bayer Group


Interviews View All

Luke Otten, Wigwam Mills Inc

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search