Bayer net income declined by 35% in Q2 2018

The Bayer Group's net income declined by 34.7% to EUR 799 million, primarily due to the absence of earnings contributions from Covestro following its deconsolidation, the company comments.

Core earnings per share from continuing operations increased by 1.3% to EUR 1.54.

Sales of Bayer in the second quarter rose by 8.5% (Fx & portfolio adj.) to EUR 9.481 billion.

EBITDA before special items increased by 3.9% to EUR 2.335 billion. Negative currency effects held back earnings by around EUR 130 million. EBIT fell by 7.7% to EUR 1.351 billion, after special charges of EUR 363 million (Q2 2017: EUR 244 million) that resulted mainly from expenses in connection with the acquisition of Monsanto.

Reference: on June 7, 2018, Bayer successfully completed the acquisition of Monsanto. Shares in the U.S. company will no longer be traded on the New York Stock Exchange, with Bayer now the sole owner of Monsanto Company. Monsanto shareholders are being paid USD 128 per share.