The Bayer Group was again successful in the second quarter of 2014. "Our Life Science businesses, in particular, saw unabated growth momentum, with very encouraging sales gains for our recently launched pharmaceutical products and our North and Latin American CropScience business," said Management Board Chairman Dr. Marijn Dekkers when the interim report was published on Wednesday.

Although earnings growth was again held back by substantial negative currency effects, these were offset by the good business development. EBITDA before special items and core earnings per share were at the previous year's level. The Chairman confirmed the Bayer Group's forecast for the current year. Dekkers said Bayer made progress in the second quarter from a strategic point of view as well with the planned acquisition of the consumer care activities of U.S. company Merck & Co., Inc. "This acquisition will greatly strengthen our Consumer Health business," he explained.

Sales of the Bayer Group rose by 0.9 percent in the second quarter of 2014 to EUR 10,458 million (Q2 2013: EUR 10,360 million). Adjusted for currency and portfolio effects (Fx & portfolio adj.), sales advanced by 6.3 percent. EBIT rose by 14.5 percent to EUR 1,473 million (Q2 2013: EUR 1,287 million). The Group took special charges of EUR 48 million (Q2 2013: EUR 256 million). EBIT before special items was down by just 1.4 percent to EUR 1,521 million (Q2 2013: EUR 1,543 million). Despite negative currency effects of about EUR 160 million or approximately 7 percent, EBITDA before special items improved by 1.0 percent to EUR 2,217 million (Q2 2013: EUR 2,195 million) after additional research and development expenses of roughly EUR 70 million. Net income climbed by 13.3 percent to EUR 953 million (Q2 2013: EUR 841 million). Core earnings per share were flat with the prior-year quarter at EUR 1.53 (Q2 2013: EUR 1.54).

Gross cash flow in the second quarter of 2014 advanced by 1.5 percent to EUR 1,705 million (Q2 2013: EUR 1,680 million) due to the improvement in EBITDA, while net cash flow moved ahead by 4.2 percent to EUR 1,601 million (Q2 2013: EUR 1,536 million). Net financial debt increased from EUR 9.1 billion on March 31, 2014, to EUR 9.9 billion on June 30, 2014.