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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bayer Ord | BYR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 55.93 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 55.93 | 55.93 |
| Top Posts |
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Posted at 06/11/2007 11:00 by waldron Bayer Ag Bayer Q3 pre-ex EBITDA beats consensus as Schering outperforms UPDATE(Recasts intro, adds details on projected dividend, number of jobs cut) LEVERKUSEN, Germany (Thomson Financial) - Bayer AG said EBITDA before one-time charges rose 6.9 pct to 1.559 bln eur, up from a restated 1.459 bln last year, helped by higher sales of the Yasmin and Mirena contraceptives, acquired as part of the takeover of rival Schering. This surpassed the 1.546 bln eur average estimate compiled in a Thomson Financial News survey of seven analysts. Third-quarter revenue advanced 4.5 pct to 7.793 bln eur, compared with an average analyst forecast of 7.764 bln. "Not least because of the Schering acquisition, we have enhanced our earnings power (in the long term)," chief executive Werner Wenning said. "The results were solid," said Martin Brunninger, an analyst at Cazenove in London. "But once again the main profit contributors and growth drivers were Schering products and pharmaceuticals from the traditional Bayer business were very disappointing." Bayer last year bought rival German drug maker Schering for 17 bln eur. Yasmin generated 35 pct more revenue than last year, while the rate was 29.7 pct for Mirena, the two fastest growing drugs among the company's 10 best selling pharmaceuticals. Brunning also pointed to Trasylol, an injection to prevent excessive blood loss during surgery which Bayer yesterday temporarily pulled off global markets because of reported side-effects. Trasylol is part of Bayer's traditional business, as is the Cipro antibiotic, which saw a loss in sales of 17.9 pct in the third quarter. Bayer recalculated last year's figure to exclude sold businesses such as H.C. Starck and Wolff Walsrode. The German company also said it expects the 2007 margin of EBITDA before one-time charges over sales to reach at least 20.3 pct, up from 19.3 pct last year. Chief executive Wenning has declared EBITDA before one-time charges as a percentage of sales Bayer's yardstick of success, having said previously the margin is set to exceed 20 pct this year and rise above 22 pct by 2009. The full-year sales target was also increased, to more than 32 bln eur, a gain of about 6 pct when excluding the effect of portfolio changes and currency swings and higher than the earlier comparable goal of an about 5 pct rise. Quarterly revenue at the HealthCare unit, Bayer's largest, rose 5.7 pct to 3.680 bln. The company sees the 2007 pre-exceptional EBITDA margin at the division, whose products range from the Aspirin painkiller to blood-clotting drug Kogenate and the Betaferon multiple sclerosis injection, at more than 25 pct. The previous goal was to reach 25 pct. Wenning said he deems the experimental anti-thrombosis pill Xarelto Bayer's most promising product, saying it has "blockbuster potential". In addition to the four uses Xarelto is being tested for, a further indication for hospitalised patients with internal diseases will be pursued. Other drugs that will drive the unit's expansion include the Nexavar kidney cancer treatment, which was recently cleared to treat liver cancer patients in Europe as well. Bayer's CropScience unit posted a 10.3 pct revenue gain on strong demand for pesticides in Latin America. Pre-exceptional EBITDA jumped 16.8 pct to 167 mln eur at the unit, "due largely to higher volumes", the company said. The company-wide net profit soared to 1.175 bln eur, up from 320 mln eur last year on tax effects. Bayer had earlier said it would free up 900 mln eur in the third quarter money set aside for future tax liabilities because of a cut in the corporate tax rate next year. Bayer also said it plans to restructure its MaterialScience unit and to cut jobs there to save 300 mln eur a year by the end of 2009. This will prompt total special charges of 150 mln eur to 200 mln in 2008 and 2009, it added. Job cuts, 400 to 500 in total, will be pursued in a "socially compatible way and through normal attrition", and should be achieved without redundancies, Wenning said. The dividend paid out for 2007 will be "based" on 30 pct to 40 pct of full-year core earnings per share, a profit measure that excludes discontinued operations and write-downs and integration costs related to the Schering takeover, Bayer said. ludwig.burger@thomso lb/slj/lb/wj |
Posted at 25/10/2001 18:12 by brendanmoyles Listed on the Frankfurt and other European exchanges much more apealing price if you want to deal in EuroBAYER AG (575200) 34.75 EUR Frankfurt 19:30 CET Quotes 17Oct2001 % Change -0.14% Open 35.60 EUR Low 33.90 Net Volume 259,325 % Change based on prev. close Fundamentals 52 Wk High 57.80 52 Wk Low 24.05 Dividend 0.34 Div Date 30/4/2001 Market Cap 25,379 M Div Yield - P/E Ratio 13.96 EPS 2.49 |
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