Arab Today, arab today bayer sees further growth after record year in 2015
Last Updated : GMT 00:38:24
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Arab Today, arab today

Bayer sees further growth after record year in 2015

Arab Today, arab today

Arab Today, arab today Bayer sees further growth after record year in 2015

Bayer said in a statement that net profit increased by 20 percent to 4.1 billion euros
Frankfurt - AFP

German pharmaceuticals giant Bayer, maker of Aspirin, said Thursday it expects to achieve further growth this year after turning in record profits and sales in 2015.

"Operationally, 2015 was another record year for Bayer," said chief executive Marijn Dekkers.

"Sales reached the highest level in the company's history" and underlying or operating profit "also set a new record," Dekkers boasted.

Bayer, which just a day before announced that Dekkers would be stepping down at the end of April to be replaced by board member Werner Baumann, said in a statement that net profit increased by 20 percent to 4.1 billion euros ($4.5 billion) last year.

Underlying or operating profit grew by 18.2 percent to 10.3 billion euros and revenues climbed by 12.1 percent to 46.3 billion euros.

"Strategically we have taken all the necessary steps to make Bayer a pure Life Science company," said CEO Dekkers.

Bayer floated its former material sciences division on the stock market under the name Covestro and reorganised its remaining pharmaceuticals (both prescription and non-prescription drugs) and agrochemicals operations.

Looking ahead, Bayer expressed confidence for this year.

"We are targeting further growth in both sales and earnings, building on a record year," said Dekkers.

Group sales, including Covestro, were expected to grow by a "low single-digit" rate to more than 47 billion euros.

Underlying profit was projected to grow by "a mid-single-digit percentage," Dekkers said.

 

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