Bayer: Significant growth in sales and earnings

Crop Science achieves record sales and industry-leading margin

Sales in the agricultural business (Crop Science) advanced by 15.6 percent (Fx & portfolio adj.) to a record 25.169 billion euros, with business up in all regions. Growth was strongest at Herbicides (Fx & portfolio adj. 43.9 percent), which saw sales rise in Latin and North America and in Europe/Middle East/Africa in particular thanks to higher prices, as supply for glyphosate-based products was tight. Sales at Corn Seed & Traits rose 8.8 percent (Fx & portfolio adj.) as the division increased its market share. Price increases in all regions more than offset a decrease in acreages in North America and lower license revenues. Sales at Fungicides were up 5.2 percent (Fx & portfolio adj.), with higher prices in the Latin America and Europe/Middle East/Africa regions in particular more than offsetting a decline in volumes in North America. Sales at Soybean Seed & Traits were level with the prior year, with business growing in Latin America but declining in North America due to lower volumes.