Bayer CropScience (506285) Q4 2004 earnings summary

Executive summary

• FY2004 results reflect a narrower crop-science portfolio after non-crop businesses were carved out; standalone turnover was Rs 8,244.54 million and profit after tax Rs 263.61 million.

• Consolidated profit before tax rose to Rs 606.773 million from Rs 472.577 million, while profit after tax was Rs 314.532 million versus Rs 327.676 million.

Financial highlights

• Consolidated net sales were Rs 8,047.776 million versus Rs 8,685.134 million; total income was Rs 8,461.974 million versus Rs 9,012.265 million.

• Adjusted for prior-period and extraordinary items, consolidated PBT was Rs 565.196 million versus Rs 810.383 million; adjusted after-tax profit was Rs 302.615 million versus Rs 520.749 million.

• Consolidated profit after tax was Rs 314.532 million; proposed dividend remained Rs 2.20 per Rs 10 share, or 22%, absorbing Rs 86.90 million.

Outlook and guidance

• FY2005 crop-protection performance expected to depend on normal, well-distributed rainfall; four new product registrations were expected to add revenue from new crop-pest segments.

• Environmental Science planned further launches in Vector Control and Professional Pest Control, with marketing and support focused on PPC growth while sustaining VC share.