Bayer CropScience sales up 16% in Q1 2011

Sales of the CropScience subgroup climbed by 15.6 percent (Fx adj. 13.6 percent) in the first quarter compared with the weak prior-year period, to EUR 2,257 million (Q1 2010: EUR 1,952 million).

"This increase was partly attributable to the very favorable market environment," said Dekkers, referring to the early and particularly good start to the season in the northern hemisphere and the high prices for agricultural raw materials. "In addition, we continued to expand the BioScience business," added Bayer's CEO.

The Crop Protection business saw sales advance by 13.6 percent (Fx adj. 12.0 percent) year on year, to EUR 1,676 million. Business improved substantially in all regions, driven mainly by new products. While sales of herbicides, fungicides and seed treatments expanded considerably compared with the weak prior-year period, those of insecticides were slightly down.

Sales in the Environmental Science, BioScience segment grew by 22.1 percent (Fx adj. 18.4 percent) to EUR 581 million. At Environmental Science, business with products for professional users increased, while sales of consumer products showed a slight decline. In the BioScience business unit, which specializes in seeds and plant traits, there was a substantial increase in sales and a particularly pleasing trend for canola, cotton and vegetables.

EBITDA before special items of CropScience rose by 40.3 percent to EUR 745 million (Q1 2010: EUR 531 million), the growth in earnings being mainly due to the good business development in Crop Protection and BioScience.