Sales advance in all subgroups – double-digit percentage growth for CropScience and the Pharmaceuticals Division (Fx & portfolio adj.) / Group sales EUR 10,187 million (plus 5.6 percent / Fx & portfolio adj.: plus 7.4 percent) / EBIT improves by 12.7 percent to EUR 1,376 million / EBITDA before special items increases by 1.4 percent to EUR 2,011 million / Net income advances by 12.7 percent to EUR 826 million / Core earnings per share grow by 6.3 percent to EUR 1.35 / Guidance for full year 2014 raised / Plan to float MaterialScience on the stock market
Leverkusen, October 30, 2014 – The Bayer Group continued its successful business development. “The strong upward trend in the Life Science businesses – HealthCare and CropScience – persisted in the third quarter.

We saw robust sales growth for our recently launched pharmaceutical products and in our CropScience business in North and Latin America," Bayer Management Board Chairman Dr. Marijn Dekkers commented when the interim report was released on Thursday. Sales of MaterialScience also posted an encouraging increase, he said. Bayer achieved a slight improvement in EBITDA before special items despite high investment and negative currency effects. Bayer made good progress in the third quarter not just operationally, but also strategically, Dekkers said, pointing to the planned flotation of MaterialScience on the stock market and the successful acquisition of the consumer care business of Merck & Co., Inc. In view of the strong operational performance and including the consumer care business acquired from Merck & Co., Inc. and the current currency assumptions, Bayer raised its guidance for 2014.

Sales of the Bayer Group rose by 5.6 percent in the third quarter of 2014 to EUR 10,187 million (Q3 2013: EUR 9,643 million). Adjusted for currency and portfolio effects (Fx & portfolio adj.), sales grew by 7.4 percent. EBIT rose by 12.7 percent to EUR 1,376 million (Q3 2013: EUR 1,221 million). Net special items were plus EUR 45 million (Q3 2013: minus EUR 99 million) and reflected a one-time gain of EUR 80 million from the divestiture of the Interventional device business. EBIT before special items rose by 0.8 percent compared with the prior-year quarter to EUR 1,331 million (Q3 2013: EUR 1,320 million). EBITDA before special items improved by 1.4 percent to EUR 2,011 million (Q3 2013: EUR 1,984 million) after additional R&D and selling expenses, amounting to roughly EUR 90 million each, and negative currency effects of about EUR 80 million or approximately minus 4 percent. Net income advanced by 12.7 percent to EUR 826 million (Q3 2013: EUR 733 million), and core earnings per share by 6.3 percent to EUR 1.35 (Q3 2013: EUR 1.27).

Gross cash flow rose by 9.1 percent to EUR 1,492 million (Q3 2013: EUR 1,367 million) due to the improvement in EBITDA, while net cash flow moved ahead by 5.1 percent to EUR 1,816 million (Q3 2013: EUR 1,728 million). Net financial debt declined from EUR 9.9 billion on June 30, 2014, to EUR 8.5 billion on September 30, 2014, largely as a result of cash inflows from operating activities.

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