Animal Health

Key Data – Animal Health

 

 

Q1 2016

 

Q1 2017

 

Change

 

 

€ million

 

€ million

 

Reported %

Fx & p adj. %

2016 figures restated; Fx & p adj. = currency- and portfolio-adjusted; Fx adj. = currency-adjusted

1

For definition see Annual Report 2016, Chapter “Alternative Performance Measures Used by the Bayer Group.”

Sales

 

408

 

440

 

+7.8

+2.9

Change in sales1

 

 

 

 

 

 

 

Volume

 

+8.3%

 

−0.3%

 

 

 

Price

 

+0.5%

 

+3.2%

 

 

 

Currency

 

−3.1%

 

+3.1%

 

 

 

Portfolio

 

0.0%

 

+1.8%

 

 

 

 

 

 

 

 

 

 

 

 

 

€ million

 

€ million

 

Reported %

Fx adj. %

Sales by region

 

 

 

 

 

 

 

Europe / Middle East / Africa

 

138

 

144

 

+4.3

+2.2

North America

 

162

 

177

 

+9.3

+5.6

Asia / Pacific

 

67

 

76

 

+13.4

+9.0

Latin America

 

41

 

43

 

+4.9

0.0

EBITDA1

 

121

 

135

 

+11.6

 

Special items1

 

(1)

 

 

 

 

EBITDA before special items1

 

122

 

135

 

+10.7

 

EBITDA margin before special items1

 

29.9%

 

30.7%

 

 

 

EBIT1

 

114

 

126

 

+10.5

 

Special items1

 

(1)

 

 

 

 

EBIT before special items1

 

115

 

126

 

+9.6

 

Net cash provided by operating activities

 

(20)

 

(31)

 

−55.0

 

First quarter of 2017

Sales

Sales of Animal Health in the first quarter of 2017 rose by 2.9% (Fx & portfolio adj.) to €440 million. The development of business in the Asia / Pacific region in particular was encouraging. We also achieved growth in the Europe / Middle East / Africa region. The increase registered in North America is in part attributable to the U.S. sales generated by the Cydectin™ product portfolio that we acquired from Boehringer Ingelheim Vetmedica, Inc., United States.

Best-Selling Animal Health Products

 

 

Q1 2016

 

Q1 2017

 

Change

 

 

€ million

 

€ million

 

Reported %

Fx adj.1 %

1

Fx adj. = currency-adjusted; for definition see Annual Report 2016, Chapter “Alternative Performance Measures Used by the Bayer Group.”

Advantage™ product family

 

148

 

136

 

−8.1

−10.0

Seresto™

 

54

 

76

 

+40.7

+38.2

Drontal™ product family

 

32

 

35

 

+9.4

+6.0

Baytril™

 

28

 

27

 

−3.6

−5.8

Total

 

262

 

274

 

+4.6

+2.3

Proportion of Animal Health sales

 

64%

 

62%

 

 

 

Sales by product

  • Sales of our Advantage™ family of flea, tick and worm control products were considerably lower than in the prior-year quarter, partly due to intensified competitive pressure and shifts in demand patterns.
  • We once again significantly expanded business with our Seresto™ flea and tick collar, primarily as the result of higher volumes in the United States and Europe.
  • Sales of our Drontal™ line of wormers were up year on year. Here we mainly benefited from new distribution possibilities in the United States.
  • As expected, business with our antibiotic Baytril™ declined, primarily due to generic competition in the United States and Europe.

Earnings

EBITDA before special items of Animal Health increased by 10.7% in the first quarter of 2017 to €135 million (Q1 2016: €122 million). Positive earnings contributions resulted from both price increases as well as the Cydectin™ business that we acquired. By contrast, there was an increase in selling expenses and research and development expenditures.

EBIT advanced 10.5% to €126 million. No special items (Q1 2016: special charges of €1 million) were recognized.

Special Items1 Animal Health

 

 

EBIT
Q1 2016

EBIT
Q1 2017

 

EBITDA Q1 2016

EBITDA Q1 2017

 

 

€ million

€ million

 

€ million

€ million

1

For definition see Annual Report 2016, Chapter “Alternative Performance Measures Used by the Bayer Group.”

Restructuring

 

(1)

 

(1)

Total special items

 

(1)

 

(1)