Bayer MaterialScience upbeat on year ahead, eyes 20% sales rise

11 June 2010 15:52  [Source: ICIS news]

LEVERKUSEN, Germany (ICIS news)--German major Bayer MaterialScience is anticipating a continued recovery in its markets and is targeting a sales increase of some 20% on a currency and portfolio adjusted basis in 2010, a company executive said on Friday.

Speaking at the Pre-K plastics conference in Leverkusen, Bayer MaterialScience CEO Patrick Thomas said the company hoped to build on a succesful first quarter. The business hoped to more than double earnings before interest, tax depreciation and amortisation (EBITDA) before special items.

"Our high-tech materials business had a successful start to 2010 and we are confident of future development," said Thomas.

First quarter sales grew by 36% to €2.22bn (€2.66bn) from the same period a year earlier, and were also up 9.9% over the fourth quarter of 2009. EBITDA before special items had rallied to €287m from a €116m loss during the corresponding quarter the year before.

To discuss issues facing the chemical industry visit ICIS connect
For more on Bayer visit ICIS company intelligence
Bookmark Paul Hodges’ Chemicals and the Economy Blog

By: Andy Brice
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index