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Bayer's Profits Decline on Flat Sales; MaterialScience Makes Positive Contribution

7:48 AM MDT | October 27, 2009 | Natasha Alperowicz

Bayer reported a 6.1% drop in earnings before interest and tax (Ebit) for the third quarter of this year to €837 million ($1.25 billion) on 7% lower sales of €7.4 billion. Ebitda before special items was flat at €1.5 billion. The company says it had achieved a slight year-on-year increase in underlying earnings for the first time this year. "We are very pleased to have reversed the earnings trend despite the fact that many industries are still suffering from the economic crisis," says Werner Wenning, chairman of the board. HealthCare and...

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