拜耳集团Bayer AG (BAYZF) 2008年年度报告「OTC」.pdf

1、 Key Data Credo Chairmans Letter.4 Board of Management.8 Report of the Supervisory Board.10INVESTOR INFORMATION Bayer Stock and Bonds.14BAYER MAGAZINE A Changing World.22 The Bayer Climate Program.28 Research the Key to the Future.29 Research for a Healthier Future.30 Richer Harvests and Secure Food

2、 Supplies.36 The Stuff the Future is Made of .42 Highlights 2008 .48 GROUP MANAGEMENT REPORT.50 CONSOLIDATED FINANCIAL STATEMENTS OF THE BAYER GROUP .133FURTHER INFORMATION Governance Bodies.247 Organization Chart.249 Group Leadership Circle.250 Glossary.252 Index.256 Global Commitment to Sustainabi

3、lity .258 The Bayer Group At Home Throughout The World Five-Year Financial Summary Financial Calendar,Masthead,DisclaimerCOVER PICTUREBayer chemists Dr.Susanne Roehrig and Dr.Alexander Straub examine the molecular contours of rivaroxaban the active ingredient of the new anticoagulant Xarelto using a

4、 computer simulation.One of Bayers aims in developing this innovative drug is to minimize the risk of thrombosis following orthopedic surgery.Read more in the magazine section on page 32.For direct access to a chapter,simply click on its name.A N N U A L R E P O R T 2008TABLE OF CONTENTSKey Data2007

5、2008Change million million%BAYER GROUPSales32,38532,918 +1.6EBITDA15,8666,266 +6.8EBITDA before special items6,7776,931 +2.3EBIT 23,1543,544 +12.4EBIT before special items4,2874,342 +1.3Income before income taxes2,2342,356 +5.5Net income4,7111,719 63.5Earnings per share()35.842.22 62.0Core earnings

6、per share()43.804.17 +9.7Gross cash fl ow 54,7845,295 +10.7Net cash fl ow 64,2813,608 15.7Capital expenditures as per segment table1,8911,982 +4.8Research and development expenses2,5782,653 +2.9Dividend per Bayer AG share()1.351.40 +3.7 BAYER HEALTHCARE External sales14,80715,407 +4.1EBITDA13,0653,6