Dubai / Emirates Business
The Bayer Group had a very successful year in 2015, both strategically and operationally. “Operationally it was another record year for Bayer. Sales reached the highest level in the company’s history, exceeding EUR 46 billion. Clean EBITDA substantially rose by about 18 percent and also set a new record of more than EUR 10 billion,” Management Board Chairman Dr. Marijn Dekkers said at the Financial News Conference in Germany.
Bayer has been present in the Middle East since the late 1880s. Nowadays, operations in the Middle East are headquartered in Dubai. “Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Our products are designed to benefit people and improve their quality of life.” explained Phil Smits, Managing Director Bayer Middle East. “We will continue to introduce our product innovations to the local markets and our recent establishments of legal entities in Saudi Arabia and Egypt underscore our commitment to the region.”
Smits continues. Approximately 800 employees are based in the Middle East. During 2015, the Life Science activities in the region showed double-digit growth (Fx & portfolio adj) compared to the previous year, resulting in EUR 430 million in sales.
Business developed especially well in the GCC countries with Saudi Arabia being the top country in the region. The Pharmaceuticals business accounted for 58% of the regional sales in 2015. The Consumer Health segment accounted for 26% and the agriculture business (CropScience) for 16% of the regional sales.
“Strategically we have taken all the necessary steps to make Bayer a pure Life Science company,” said Dekkers. The Bayer CEO explained that the company had floated the former Material Science subgroup on the stock market under the name Covestro and implemented a reorganization to set the course for Bayer’s successful further
“By focusing on the Life Science businesses, we will concentrate even more intensively in the future on two of the greatest challenges of the 21st century,” said the Management Board Chairman. First, he explained, the aging and growing world population urgently needs new and better medicines because many diseases still cannot be adequately treated despite tremendous advances.
Second, Dekkers said, innovative chemical and biological crop protection products and more resilient plants are also needed to ensure an adequate supply of high-quality food for the growing global population in the future. “Only with true innovations will we be able to offer solutions to these challenges. Our business portfolio now focuses specifically on addressing these challenges,” emphasized Dekkers. Innovation is the foundation of Bayer’s commercial success.
The Bayer Group is a global enterprise with companies in almost every country. In fiscal 2015, the Group employed around 117,000 people and had sales of EUR 46.3 billion.