LEVERKUSEN, Germany — Bayer successfully completed the biggest acquisition in its history in the second quarter of 2018, while operational performance improved, even without taking into account the newly acquired Monsanto business. Sales advanced at three of the four segments on a currency- and portfolio-adjusted basis.
“We are on track to achieve our annual targets,” said Werner Baumann, Chairman of the Board of Management, when he presented the interim report on Wednesday. EBITDA before special items increased thanks to growth at Crop Science and Animal Health. Bayer has adjusted its Group outlook to account for the sales and earnings contributions from Monsanto from the date of the acquisition. The company aims to pay out a dividend per share for 2018 that is at least at the same level as in the prior year.
Bayer completed the acquisition of Monsanto on June 7, 2018, for $63 billion dollars including debt. “The acquisition of Monsanto brings together two strong and highly complementary businesses: Bayer’s innovative chemical and biological crop protection portfolio and Monsanto’s exceptional expertise in the field of seeds and traits,” said Baumann. “We are now a leader in the agricultural industry with a clear commitment to innovation and sustainability – for the benefit of our customers and society,” he added. In addition to leveraging its employees’ extensive expertise in agriculture, Bayer now also has the strongest portfolio of seed and crop protection products for a wide range of crops and indications, the best research and development platform and the leading digital farming business.