Bayer released its first quarter financial report this week and the pharmaceutical company is reporting encouraging growth in its sales and earnings.
Gross cash flow in the first quarter of 2014 rose by 13.3% to €2,048 million due to the improvement in EBITDA. Net cash flow, however, declined to €163 million because more cash was tied up in working capital.
Net financial debt rose from €6.7 billion on December 31, 2013, to €9.1 billion on March 31, 2014. This increase was driven by the acquisition of Algeta ASA, Norway.
Sales of the Animal Health Division rose by 8.0% to €330 million. Business with our Advantage™ line of flea, tick and worm control products developed particularly well.
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