Bayer continued its successful development in Turkey in 2008. Adjusted for currency and portfolio effects, Bayer Group sales in Turkey increased by 4.8 percent to € 469.8 million while the number of employees increased by 8 percent to 1,604 in 2008. “We look back with satisfaction to a successful year 2008 while the increase in employees in Turkey shows our commitment to capitalize on the opportunities for long-term growth in this market” Bayer Türk CEO Dr. Sebastian Guth said when explaining the 2008 results on Tuesday. Of the Group total in Turkey, Bayer HealthCare accounted for 65 percent. Bayer MaterialScience contributed 21 percent, and Bayer CropScience 14 percent, to Group sales in Turkey.

Sebastian Guth showed himself undeterred by the current global financial turmoil. “HealthCare and CropScience account for close to 80 percent of Group sales in Turkey and are less exposed to cyclical fluctuations. Despite the financial crisis we look with confidence to the future. Bayer has witnessed many crises during its presence of over 50 years in Turkey but we have never waivered on our long-term objectives and commitment. We moved to our headquarters to Ümraniye just after the 2001 crisis and our investments since 2000 exceeded € 40 million. Today, our three subgroups namely; HealthCare, MaterialScience and CropScience are leaders in their respective markets while Bayer Türk as a whole is among the top 130 companies in Turkey” Guth said.

 

Sales in Bayer HealthCare grew faster than the market

 

Due especially to good volume growth, business in HealthCare expanded in 2008 by a gratifying 14.2 percent adjusted for currency and portfolio effects. According to IMS data company’s healthcare division maintained its position as the 2 ^nd largest player in volume and moved up to the 7 ^th place in value in the Turkish healthcare market. Bayer’s pharmaceuticals business in Turkey grew twice as fast as its operational market while the company’s Topkapı pharmaceuticals plant has passed the record-breaking mark of 100 million units per annum for the first time in its history. Within the top 5 companies in terms of unit sales in the Turkish healthcare market, Bayer is the only multinational research-based company.

Bayer CropScience grew considerably in 2008 and today exports to nearly 40 countries from Gebze

Sales of Bayer CropScience increased currency- and portfolio-adjusted by 9.6 percent in 2008. “ Our business benefited specifically from the strong growth of our vegetable seed business and the strong brands in our Crop Protection business,” Guth remarked. In addition, the positioning of the CropScience manufacturing operations in Gebze as an international hub was further strengthened in 2008. The number of export markets served out of Gebze was expanded to nearly 40 countries, keeping Bayer among the top ten largest exporters in Turkish chemical industry.

Difficult market environment for Bayer MaterialScience

Sales of Bayer MaterialScience, the high-tech materials business of the Bayer Group, declined inevitably as the current global financial and economic crisis affected some of our key customer industries. “We are witnessing a significant contraction in some of the key customer industries of Bayer MaterialScience such as automotives, white goods, electronics and construction in Turkey,“ said Guth. “With its large domestic market and strong position in international exports,” Guth added, “we however continue to believe in the opportunities for long term growth.”

Bayer: Science For A Better Life

 

Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. The company’s products and services are designed to benefit people and improve their quality of life. At the same time Bayer creates value through innovation, growth and improved earning power. The Group is committed to the principles of sustainable development and acknowledges and accepts its role as a socially and ethically responsible “corporate citizen”. Economy, ecology and social responsibility are corporate policy objectives of equal rank. In fiscal 2008, Bayer employed 108,600 people and had sales of €32,918 million. Capital expenditures amounted to €1,982 million, the R&D expenses to €2,653 million. For a detailed Press Release on the Bayer Group 2008 global results please go to www.press.bayer.com

Contact:

Nevra Çağman / Corporate Communications Manager

Tel: 0216 528 38 08

Nevra.Cagman@bayer.com.tr