Bayer Q1 Report 2023

Group sales decreased by 1.1% (Fx & portfolio adj.) to €14,389 million in the first quarter of 2023 (Q1 2022: €14,639 million; reported: –1.7%). There was a positive currency effect of €102 million (Q1 2022: €529 million). Sales in Germany amounted to €768 million (Q1 2022: €735 million).

Group EBITDA before special items declined by 14.9% to €4,471 million. This figure included a negative currency effect of €4 million (Q1 2022: positive currency effect of €67 million).

After a financial result of minus €367 million (Q1 2022: minus €490 million), income before income taxes amounted to €2,606 million (Q1 2022: €3,722 million). The improvement in the financial result was largely due to higher interest income from investments in money market funds and to positive changes in the fair value of financial investments. After income tax expense of €424 million (Q1 2022: €428 million) and accounting for noncontrolling interest, net income amounted to €2,178 million (Q1 2022: €3,291 million).