Bayer CropScience sales down 2% in Q1 2016

First-quarter sales of Bayer CropScience decreased by 2.2% to EUR 3,023 million. However, the sales increased by 1.2% on a currency and portfolio adjusted basis. In regional terms, Bayer CropScience developed positively in North America in particular.

At Crop Protection, the SeedGrowth business grew by 2.3% (Fx & p adj. + 5.4%). The Fungicides business keeps flat (Fx & p adj. + 2.9%), whereas sales of Insecticides and Herbicides declined by 15.2% (Fx & p adj. -12.2%) and 6.7% (Fx & p adj. -3.8%) respectively. Sales of Seeds increased by 6.7% (Fx & p adj. +11.9%) . Business at Environmental Science advanced slightly by 0.5% (Fx & p adj. +3.0%).

EBITDA before special items improved by 6.3% to €1,106 million in the first quarter of 2016 (Q1 2015: €1,040 million). Earnings contributions from higher selling prices and lower cost of goods sold stood against higher research and development spending and a negative currency effect of €15 million.  

Regional sales (currency-and portfolio-adjusted)

Sales in Europe were level year on year at €1,348 million (Fx adj. + 0.7%). Sales of Seeds grew by a double-digit percentage, thanks above all to positive development for vegetable seed. We also saw a significant increase in sales of seed treatments, while business at Fungicides expanded slightly. Sales of the Insecticides business were down considerably against the prior-year quarter, due particularly to lower sales of products for application in oilseed rape/canola. Environmental Science posted a decline in sales.

Sales in North America climbed by 3.8% (Fx adj.) to €952 million in the first quarter of 2016. Business at both SeedGrowth and Seeds expanded by double-digit percentages; sales of our soybean and oilseed rape / canola seeds developed especially positively. On the other hand, sales declined sharply at both Herbicides and Insecticides. Environmental Science posted encouraging growth.

Sales in the Asia / Pacific region declined by 2.5% (Fx adj.) to €342 million. Business receded at Insecticides and Fungicides. Higher sales of vegetable seed and seed treatments were not sufficient to offset this trend.

Sales in the Latin America / Africa / Middle East region improved by 1.0% (Fx adj.) to €381 million.

Bayer CropScience posted considerable sales gains at Fungicides, particularly with products for use in soybeans, and with vegetable seed. By contrast, sales declined especially at SeedGrowth, but also at Herbicides and Insecticides.