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Apr 3, 2014

FMC says expects revenue to almost double by 2020

FRANKFURT (Reuters) – Dialysis specialist Fresenius Medical Care said it expected sales to almost double to $28 billion by 2020, driven by growing patient numbers and as it aims to widen its services to medical fields related to kidney failure.

The target is equivalent to an average annual increase of about 10 percent from $14.6 billion last year, the world’s largest dialysis company said in presentation slides shown on its website on Thursday as part of its capital markets day.

Mar 13, 2014

K+S anticipates 2014 profit drop on lower potash prices

FRANKFURT, March 13 (Reuters) – German potash miner K+S
said it was expecting operating earnings to decline
for a third year thanks to lower prices of the fertiliser
ingredient following the break-up of an export alliance between
two larger rivals.

K+S, which is also the world’s largest salt supplier, on
Thursday said 2014 adjusted earnings before interest and tax
would be clearly below the level of the year before.

Mar 12, 2014

Germany’s K+S cuts dividend on potash market turmoil

FRANKFURT, March 12 (Reuters) – German potash miner K+S
slashed its 2013 dividend and suspended its long-term
payout goal to preserve cash for a new mine it is building in
Canada despite a slump in prices of the fertiliser ingredient.

The market for potash has been in turmoil since Russian
producer Uralkali quit a powerful sales alliance with
Belarus’ Belaruskali in July last year, leading to higher output
volumes and lower prices.

Mar 7, 2014

Evonik ups dividend although profit not certain to rise

ESSEN, Germany, March 7 (Reuters) – German diversified
chemicals maker Evonik plans to top up its annual
dividend by almost 9 percent even after sounding a cautious note
about this year’s earnings outlook.

The maker of feed additives, clear acrylic sheet and
high-tech plastics, which is controlled by a state-owned trust,
proposed a dividend of 1.00 euro ($1.40) per share on Friday, up
from 0.92 euros a year earlier – exceeding the 0.93 euro average
estimate in a Reuters poll of banks and
brokerages.

Mar 6, 2014

Lanxess CEO-designate says to end trend of lavish cash outflows

DARMSTADT, Germany, March 6 (Reuters) – The CEO-designate of
Lanxess said he would have to reverse a trend of
lavish cash outflows on investments at the world’s largest maker
of synthetic rubber for tyres, when he takes the helm on April
1.

“The cash discipline was basically abandoned,” over the last
two to three years, CEO-designate Matthias Zachert said on the
sidelines of a press conference at drugs and chemicals maker
Merck KGaA, where Zachert will quit as finance chief
at the end of the month to return to his old employer.

Mar 6, 2014

Merck KGaA’s profit up as cutbacks cancel out forex pain

FRANKFURT, March 6 (Reuters) – Germany’s Merck KGaA
, the worlds largest maker of liquid crystals for
display screens, reported an unexpected rise in underlying
profits on Thursday as the benefits of its cost cutting campaign
more than offset the impact of weaker foreign currency exchange
rates.

After a slew of setbacks in drug development, the group is
in the final phase of a restructuring effort, cutting more than
2,000 jobs.

Feb 28, 2014

Bayer boosts peak sales estimate for top five new drugs

LEVERKUSEN, Germany, Feb 28 (Reuters) – Germany’s largest
drugmaker Bayer lifted its estimate for potential
sales of new drugs by billions of euros on Friday, softening the
blow of a fall in fourth-quarter earnings.

Adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) in the last three months of 2013 slipped
to 1.77 billion euros, dampened by a weak Japanese yen and
emerging-market currencies, the company said, missing the 1.91
billion euro average estimate in a Reuters poll.

Feb 27, 2014

Bayer buys Dihon to add traditional Chinese medicine

FRANKFURT, Feb 27 (Reuters) – Bayer said it would
buy privately held Dihon Pharmaceutical Group Co, a maker of
traditional herbal Chinese medicines (TCM), as the German
drugmaker pushes to become the world’s largest non-prescription
medicines group.

With China’s healthcare spending forecast to nearly triple
to $1 trillion by 2020 from $357 billion in 2011, according to
consulting firm McKinsey, the country is a magnet for makers of
medicines and medical equipment, but many patients remain
strongly attached to traditional approaches.

Feb 26, 2014

Germany’s Lanxess halves dividend after 2013 loss

FRANKFURT, Feb 26 (Reuters) – German synthetic rubber
specialist Lanxess said it would halve its dividend
after slumping to a net loss in 2013, as overcapacity and
rising costs forced it to write down the value of several of its
businesses.

The surprise impairment charges of 257 million euros ($353
million), which sent Lanxess shares down as much as 6 percent on
Wednesday, come ahead of the arrival of its new chief executive
by mid-May.

Feb 25, 2014

BASF sees car and consumer industries nudging profit higher

LUDWIGSHAFEN, Germany (Reuters) – BASF (BASFn.DE: Quote, Profile, Research, Stock Buzz), the world’s largest chemicals company by sales, predicted a small rise in operating profit this year, with an uncertain economic outlook tempering its optimism over growing demand from automakers and consumer goods companies.

The German firm did not specify on Tuesday what it meant by a slight increase in adjusted earnings before interest and tax (EBIT). But analysts had on average forecast a gain of almost 10 percent, and BASF shares fell more than 1.5 percent.

    • About Ludwig

      "I am the Deputy Chief Correspondent for Reuters' company news out of Germany, also covering the healthcare and chemical industry. Previously, I worked as a reporter for Bloomberg News in Switzerland."
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