The head of Bayer AG said the group still must decide the details to spin off its Bayer MaterialScience plastics group this year.
BMS may be spun off through an initial price offering or solely as a separate unit, said Marijn Dekkers, chairman of Bayer's management board during the company's annual earnings announcement.
“It depends on how the stock market behaves and its position,” he said.
Everything is on schedule to hit the company's planned date of Aug. 31.
Dekkers added that a decision about the move, which was made last year, would be made in the second half of 2015.
The material science division, meanwhile, reported sales in 2014 rose 4.8 percent to 11.7 billion euros ($13 billion) compared to 11.2 billion euros ($12.6 billion) in 2013.
Sales of raw polyurethane foam products grew by 4.9 percent in 2014 while polycarbonates grew by 7.2 percent. The company said the growth was mostly due to an increased demand from customers in the auto, electrical/electronics and construction industries.
Sales for all of Leverkusen, Germany-based Bayer climbed 5.2 percent in 2014 to 42.2 billion euros ($47.3 billion) from 40.1 billion euros ($44.9 billion).
According to the company global development in the industries targeted by Bayer was “in 2014, slower than expected overall”.
A continued weakening of business in the Eurozone, slower growth in China and other emerging economies was offset by stronger than expected growth in North America, the report added.
In the automotive industry, the company said it saw slightly slower growth overall in 2014 than during 2013.
In North America and Asia, the company said there was strong demand across all vehicle segments however, Latin America — particularly Brazil and Argentina — posted considerable declines, said the Bayer report.
Construction activity was greater last year than in 2013, characterized by sustained recovery in Western and Eastern Europe, positive development in North America and a stabilizing trend in Latin America.
Asia saw steady growth overall although China showed a “slight weakening.”
