German drugs and chemical maker Bayer, based in Leverkusen, has reported a 10% fall in net income to US$374 mln in Q3-09 and a 7% drop in revenues as compared to the same period last year. Overall sales dropped by 7% in Q3, but earnings before interest, taxes, depreciation and amortisation (EBITDA) edged up 0.4%.
Bayer has reversed the earnings trend at a juncture when the economic downturn seems past its worst. However, a sustainable recovery in demand is difficult to predict at this early stage of recovery.
MaterialScience division nearly doubled earnings compared with the second quarter, and contributed to the robust performance along with the HealthCare Division. The HealthCare business showed a revenue increase of 4%, Rrevenue in the consumer health care segment rose by 5%, and while the Pharmaceutical business saw a 3% rise in revenue with strong performances in Asia and Latin America. The CropScience division reported a near 9% decline in revenue on lower prices for key crop commodities, adverse weather conditions and higher trade inventories of crop protection products.
29-Oct-09 
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