Bayer Posts Highter Operating Income, Confirms Forecast for 2011

Bayer reported a 26% increase in second-quarter operating income (Ebit), to €1.27 billion ($1.84 billion) on flat sales of €9.252 billion. The currency- and portfolio-adjusted sales increase was 5.4 %. Ebitda before special items rose 5.8%, to €2.04 billion. Business performance in emerging markets made an above-average contribution, the company says. The results were below analysts’ expectations, however. Sales were 3% behind consensus and Ebitda was in line with consensus but about 1% of the underlying Ebitda resulted from settlement gains...

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