Bayer AG Q1 Report 2024
- Group sales at €13.8 billion (Fx & p adj. – 0.6%), currency headwinds of €0.5 billion
- Group sales came in at €13,765 million in the first quarter of 2024 (Q1 2023: €14,389 million), representing a change of –0.6% on a currency- and portfolio-adjusted basis (Fx & portfolio adj.), and –4.3% on a reported basis.
- EBITDA before special items falls slightly to €4.4 billion (– 1.3%)
- Group EBITDA before special items decreased by 1.3% to €4,412 million. This figure included a negative currency effect of €206 million (Q1 2023: €4 million). Crop Science registered a decline in EBITDA before special items which was mainly due to the fall in prices for our glyphosate-based products.
- Sales and earnings down at Crop Science and Consumer Health
- After a financial result of minus €501 million (Q1 2023: minus €367 million), income before income taxes amounted to €2,591 million (Q1 2023: €2,606 million). The deterioration of the financial result was largely due to an increase in interest expense as a result of higher interest rates, as well as hyperinflationary effects arising primarily in Argentina.
- Pharmaceuticals posts higher sales and earnings // Core earnings per share at €2.82 (– 4.4%)
- Net income at €2.0 billion
- Free cash flow at minus €2.6 billion
- Currency-adjusted Group outlook confirmed
