Agricultural division witnesses increased sale by 3.2 per cent

Germany based Bayer Group’s businesses reported solid performance in the second quarter of 2020 despite the COVID-19 pandemic especially in their agricultural business which raised sales by 3.2 percent (Fx & portfolio adj.) to 4.802 billion euros. 

The company which raised earnings before interest, taxes, depreciation and amortization (EBITDA) before special items witnessed growth in the Latin America, Asia/Pacific and North America regions

The division achieved 2.7 percent higher sales at Corn Seed & Traits, mainly due to significant volume expansion in Brazil. Sales at Herbicides increased by 3.3 percent thanks to higher volumes and advance purchases in Latin America coupled with substantial business growth in North America.

Sales at Soybean Seeds & Traits showed particularly strong growth of 9.3 percent with business recovering in North America thanks to an increase in acreages and to shifts in demand from the first quarter arising from uncertainties over COVID-19. In Latin America, an increase in market share had a positive effect.

Sales at Insecticides rose by 4.5 percent driven by gains in the Latin America and Asia/Pacific regions. By contrast, declines were primarily recorded at Vegetable Seeds. 

EBITDA before special items at Crop Science advanced by 28.4 percent to 1.365 billion euros.