Bayer CropScience sales up 3% in Q1 2017

Bayer Crop Science posted sales of €3,120 million (Fx & portfolio adj. + 3.2%) in the first quarter of 2017 ended March 31. Growth at Crop Protection / Seeds was largely due to encouraging performance in North America. The sales growth recorded at Environmental Science was based on the delivery of products to the company that acquired our consumer business.  



Bayer CropScience's crop protection sales recorded a 0.9% increase to €2,251 million(Fx & portfolio adj) in the first quarter of 2017. Seeds sales largely boosted by 8% to €722 million(Fx & portfolio adj) in this quarter.

Regional sales ( currency-and portfolio-adjusted)


Sales in Europe / Middle East / Africa climbed to €1,462 million (Fx adj. + 2.0%). Bayer recorded double-digit sales gains in both the Insecticides and Seeds businesses. Slight increases at Herbicides stood against declines at Fungicides and SeedGrowth.

Sales in North America advanced by 8.9% (Fx adj.) to €1,042 million. Bayer registered especially positive performance for the SeedGrowth business, as a result of strong demand for application in soybeans and cereals, and for the Herbicides business in Canada. Bayer also grew sales at Insecticides and Fungicides. At Seeds, gratifying gains for oilseed rape/canola and soybean seeds more than offset substantial declines for cotton seeds.

In the Asia / Pacific region, sales increased to €366 million (Fx adj. + 2.9%). Bayer achieved double-digit growth at Herbicides, where Bayer benefited from product launches in Japan and China as well as favorable weather conditions in Australia, among other things. The SeedGrowth and Fungicides businesses also delivered positive performance. By contrast, weak demand in India led to substantial declines in sales at Insecticides.

Sales in Latin America decreased by 9.8% (Fx adj.) to €250 million. Bayer’s Fungicides business in Brazil saw a substantial decline, primarily due to inventories in the market remaining high. Double-digit sales increases at Herbicides, particularly in Argentina, and in the Seeds business were unable to offset this development.

Earnings

EBITDA before special items of Crop Science increased by 2.4% to €1,115 million in the first quarter of 2017 (Q1 2016: €1,089 million). Positive earnings effects resulted primarily from higher volumes. A higher cost of goods sold, increased research and development expenses as well as lower selling prices diminished earnings.

EBIT advanced by 1.6% to €970 million after special items of €37 million (Q1 2016: €3 million) in conjunction with the agreed acquisition of Monsanto and efficiency improvement programs.