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Key Figures

The fiscal year is the calendar year.

Since fiscal year 1999 the financial statements are drawn up in € (euros).

    

Bayer Group

2009

2010

Change

 

€ million

€ million

in %

Sales

31,168

35,088

12.6

EBIT1

3,006

2,730

-9.2

EBIT before special items2

3,772

4,452

18.0

EBITDA3

5,815

6,286

8.1

EBITDA before special items2

6,472

7,101

9.7

EBITDA margin before special items4

20.8%

20.2%

 

Income before income taxes

1,870

1,721

-8.0

Net income

1,359

1,301

-4.3

Earnings per share (€)5

1.70

1.57

-7.6

Core earnings per share (€)6

3.64

4.19

15.1

Gross cash flow7

4,658

4,771

2.4

Net cash flow8

5,375

5,773

7.4

Net financial debt

9,691

7,917

-18.3

Capital expenditures as per segment table

1,669

1,621

-2.9

Research and development expenses

2,746

3,053

11.2

Dividend per share (€)

1.40

1.50

7.1

    

HealthCare

2009

2010

Change

 

€ million

€ million

in %

Sales

15,988

16,913

5.8

EBIT2

2,640

1,861

-29.5

EBIT before special items2

3,012

3,030

0.6

EBITDA3

4,148

4,116

-0.8

EBITDA before special items2

4,468

4,405

-1.4

EBITDA margin before special items4

27.9%

26.0%

 

Gross cash flow7

3,153

2,948

-6.5

Net cash flow8

3,431

3,320

-3.2

    

CropScience

2009

2010

Change

 

€ million

€ million

in %

Sales

6,510

6,830

4.9

EBIT

798

261

-67.3

EBIT before special items2

1,017

787

-22.6

EBITDA3

1,311

767

-41.5

EBITDA before special items2

1,508

1,293

-14.3

EBITDA margin before special items4

23.2%

19,0%

 

Gross cash flow7

1,043

546

-47.7

Net cash flow8

745

1,399

87.8

    

MaterialScience

2009

2010

Change

 

€ million

€ million

in %

Sales

7,520

10,154

35.0

EBIT

-266

780

 

EBIT before special items2

-126

780

 

EBITDA3

341

1,356

 

EBITDA before special items2

446

1,356

 

EBITDA margin before special items4

5.9%

13.4%

 

Gross cash flow7

319

1,058

 

Net cash flow8

849

763

-10.1

1 EBIT = operating result as shown in the income statement

2 EBIT(DA) before special items is not defined in the International Financial Reporting Standards and should therefore be regarded only as supplementary information. The company considers EBITDA before special items to be a more suitable indicator of operating performance since it is not affected by depreciation, amortization, impairments or special items. By reporting this indicator, the company aims to give readers a clearer picture of the results of operations and ensure greater comparability of data over time. See also Combined Management Report, Chapter 4.2 "Calculation of EBIT(DA) Before Special Items."

3 EBITDA = EBIT plus amortization and impairment losses on intangible assets and depreciation and impairment losses on property, plant and equipment, minus impairment loss reversals.

4 The EBITDA margin before special items is calculated by dividing EBITDA before special items by sales.

5 Earnings per share as defined in IAS 33 = adjusted net income divided by the average number of shares. For details see Note [16] to the consolidated financial statements.

6 Core earnings per share are not defined in the International Financial Reporting Standards and should therefore be regarded only as supplementary information. The company considers that this indicator gives readers a clearer picture of the results of operations and ensures greater comparability of data over time. The calculation of core earnings per share is explained in the Combined Management Report, Chapter 4.3.

7 Gross cash flow = income after taxes, plus income taxes, plus non-operating result, minus income taxes paid or accrued, plus depreciation, amortization and impairment losses, minus impairment loss reversals, plus/minus changes in pension provisions, minus gains/plus losses on retirements of noncurrent assets, minus gains from the remeasurement of already held assets in step acquisitions. The change in pension provisions includes the elimination of non-cash components of the operating result (EBIT). It also contains benefit payments during the year. For details see Combined Management Report, Chapter 4.5 "Liquidity and Capital Expenditures of the Bayer Group."

8 Net cash flow = cash flow from operating activities according to IAS 7

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