The Bayer Group reports further strategic progress and strong earnings growth in the third quarter of 2015. Despite a weaker market environment, sales at CropScience were up against the strong prior-year period. Earnings rose due to currency effects. Covestro significantly raised earnings again, due mainly to lower raw material costs, while sales receded as expected.
Sales increased by 9.5 percent to EUR 2,113 million (Q3 2014: EUR 1,929 million).
“After adjusting for currency and portfolio effects, therefore, we were up slightly against the strong prior-year level,” Bayer Management Board Chairman Marijn Dekkers said.
Crop Protection/Seeds posted a slight sales increase in a weaker market environment, particularly in Latin America. The subgroup achieved its highest sales growth in the Asia/Pacific region, at 7.2 percent. Business expanded by 4.3 percent in North America and 3.1 percent in Europe. By contrast, sales in the Latin America/Africa/Middle East region moved back by 1.2 percent.
More information is available here: http://www.cropscience.bayer.com/en/Media/Press-Releases/2015/A3R9KK-Bayer-posts-strong-earnings-growth.aspx
