Bayer Q3 Report 2023

Group sales came in at €10,342 million in the third quarter of 2023 (Q3 2022: €11,281 million; reported: –8.3%), and were therefore in line with the prior-year period on a currency- and portfolio-adjusted basis (Fx & portfolio adj.; –0.2%). There was a negative currency effect of €742 million (Q3 2022: positive currency effect of €940 million). Sales in Germany amounted to €512 million (Q3 2022: €576 million).

Group EBITDA before special items decreased by 31.3% to €1,685 million. This figure included a negative currency effect of €31 million (Q3 2022: €78 million). Crop Science registered a decline in EBITDA before special items that was mainly due to the fall in prices for our glyphosate-based products.

After a financial result of minus €703 million (Q3 2022: minus €598 million), income before income taxes amounted to minus €4,297 million (Q3 2022: €601 million). The deterioration of the financial result was largely due to higher interest expense as a result of rising interest rates. After income tax expense of €280 million (Q3 2022: €49 million) and accounting for noncontrolling interest, net income amounted to minus €4,569 million (Q3 2022: €546 million).