Bayer - Big Pharma's Q2 2010 Earnings Report

Highlights

• Further growth in sales and underlying EBITDA primarily driven by MaterialScience, Consumer Health as well as positive currency effects.
• Price +1.3%, volume +7.9%, currency +6.0%, portfolio -0.6%
• Special items due to partial write-down of Zevalin (-€132 million) and litigation (BHC -€57 million, BCS: -€66 million)
• Currency impact on underlying EBITDA of approx. €160 million
• Core EPS up 9.5%
• Double-digit increase in net cash flow - working capital management further optimized
• Increase in net financial debt mainly due to the dividend payment, annual payments of variable compensation, interest payments (occur mainly in Q2) and negative currency effects of €0.6 billion.
• Significantly higher investments in R&D - R&D budget raised to €3.1 billion
• Group outlook 2010 confirmed - subgroup outlook updated

See J&J's current stock quote from CNN Money

Bayer's website: http://www.bayer.com/
Full release: Bayer's earnings release

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