Bayer reports another record year

Reporting 2105 financial results this morning, Germany’s Bayer (BAYN: DE) claims to have had another record year, with a focus on the Life Sciences following the successful stock market flotation of its material sciences business Covestro, substantial sales and earnings increases at HealthCare and good business development at CropScience despite a weaker market environment.

For the fourth quarter of 2015, Bayer posted sales of 11.32 billion euros ($12.47 billion), a rise of 4.9%, with earnings before interest and taxes (EBIT) leaping 65.4% to 908 million euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) was up 4.0% at 1.90 billion euros, which was lower than the 2.0 billion euros consensus estimates of analysts, with earnings per share of 0.74 euros, a rise of 174%, though core EPS was down 8.5% at 1.07. Bayer Healthcare sales were up 8.6% at 5.81 billion euros, with EBIT before special items up 12.4% at 1.04 billion euros.

Bayer is forecasting full-year 2016 sales of around 47 billion euros and improve operating profit by a “mid single digit percentage.” Notwithstanding the strong results, Bayer’s shares were down 2.79% at 92.10 euros by 09.20 GMT+1.