bayer ag-reg (BAYZF) Key Developments
Bayer Seeks Acquisitions
May 21 15
Bayer AG (DB:BAYN) Chief Executive Officer Marijn Dekkers is listing a plastics business on the stock market as he focuses on more lucrative life-sciences operations and also has expressed interest in acquisitions in veterinary medicines.
Sinocare Interested In Diabetes Devices Business from Bayer
May 20 15
Sinocare Inc. (SZSE:300298) intends to submit bid to acquire diabetes device business from Bayer AG (DB:BAYN), reported Bloomberg, citing people familiar with the matter. According to the reports, Sinocare made an offer of about $1 billion with Gold Stone Investment Co., Ltd., the direct-investment unit of CITIC Securities Company Ltd. Sinocare has reached out to Chinese banks to seek financing for a potential deal. Sinocare is competing with Panasonic Healthcare Co., Ltd., backed by KKR & Co. L.P. (NYSE:KKR), which has been holding talks to buy the Bayer unit from February 2015, the sources said.
Bayer AG Announces Consolidated Earnings Results for the First Quarter Ended March 2015; Raises Financial Guidance for the Full Year of 2015
Apr 30 15
Bayer announced consolidated earnings results for the first quarter ended March 2015. The company announced that its net profits were down in the first three months. The company said that its after-tax profits declined by 8.4% to EUR 1.303 billion in the period from January to March. This was due to special charges related to the integration of acquired businesses, the consolidation of production sites and additional efficiency improvement measures. Underlying or operating profit before special items was up 9.6% at EUR 3.9 billion, and sales jumped by 14.8% to EUR 12.117 billion. Reported EBIT fell 5% to EUR 2 billion. Earnings were diminished by special charges of EUR 244 million, mainly due to expenses for the integration of acquired businesses, consolidation of production sites and additional efficiency improvement measures. Including the contributions from the acquired businesses, adjusted EBITDA for the group posted an increase of 10% to EUR 3 billion. This good Core earnings per share amounted to EUR 2.10, an increase of 8% over the prior year. As a result of the improvement in EBITDA, gross cash flow inched up 1% in the quarter. Net cash flow more than quadrupled to over EUR 720 million as less funds were tied up in working capital versus the prior year. With capital expenditures of almost EUR 350 million, the free operating cash flow came in at roughly EUR 380 million. Net financial debt at the end of the quarter stood at EUR 21.3 billion, an increase of EUR 1.7 billion from year-end 2014, mainly due to currency.
Nevertheless the company has raised its full-year forecasts due to the positive effects of the weak euro. The company now expect group sales between EUR 48 billion and EUR 49 billion versus previously EUR 46 billion. This corresponds to a currency and portfolio-adjusted increase in the low single-digit percentage. For adjusted EBITDA, the company now anticipate an increase in the high-teens percentage versus previously in the low- to mid-teens percentage. And this includes a positive currency impact of 8%. Core earnings per share, the company now expect to increase in the high-teens percentage versus previously in the low-teens percentage, including a positive currency effect of 7%. For the group as a whole, The company expects to deliver significant sales and earnings growth in 2015. Overall, The company expects that for the full year, the net debt will go below EUR 20 billion again.
Bayer AG to Early Redeem EUR 1.3 Billion Bond Issued in 2005
Apr 15 15
Bayer AG plans to early redeem a EUR 1.3 billion bond. The first opportunity to repay the subordinated bond with a 5% coupon and a 100-year maturity issued in 2005 (ISIN XS0225369403) arises on July 29, 2015. The company has decided to utilize this repayment right. The company will arrange for publication of a formal investor notification in the newspaper Luxemburger Wort or through the clearing system in June 2015 in accordance with the bond conditions.
Bayer AG - Shareholder/Analyst Call
Apr 2 15
Annual Stockholders Meeting