PIE - News-Ticker on Plasteurope.com

Bayer MaterialScience: Earnings rebound in Q4 2009

Bayer MaterialScience (Leverkusen / Germany; www.bayerbms.com) was battered severely by the crisis in 2009. Sales tumbled 23% to EUR 7.5 bn, with volumes and selling prices both down 12%. EBITDA before special items fell 59% to EUR 446m. Polycarbonate sales receded by 21% to EUR 1.87 bn, polyurethanes by 25% to EUR 3.78 bn.

Group CEO Werner Wenning blamed much of last year's earnings slump on the weak first quarter. "Business recovered markedly” as the year progressed, he said. In Q4, earnings saw a turnaround of 400%. Wenning and CEO-designate Marijn Dekkers reinforced Bayer's commitment to the high tech polymers business.

More news on Plasteurope.com...