Q1 2026 Bayer AG Earnings Call Transcript
Key Points
- Bayer AG (BAYRY) reported a 4% increase in sales on a currency and portfolio-adjusted basis, reaching EUR13.4 billion.
- Crop Science division saw a 7% year-over-year sales growth, driven by strong performance in corn and additional soy licensing resolution revenue.
- Consumer Health division grew by 5%, with strong contributions from dermatology and nutritionals, benefiting from e-commerce expansion.
- Pharmaceuticals division maintained sales levels with strong growth in Nubeqa and Kerendia, offsetting declines in Xarelto and Eylea.
- Bayer AG (BAYRY) confirmed its 2026 outlook, indicating confidence in achieving its strategic goals despite a volatile environment.
- Free cash flow was negative at EUR2.3 billion, impacted by significant litigation-related payments.
- Pharmaceuticals division faced pricing pressures and a decline in EBITDA margin to 29.2%.
- Crop Science division experienced a 15% decline in glyphosate sales due to lower volumes and delayed purchases.
- Consumer Health division's EBITDA margin slightly trailed the previous year, affected by FX headwinds.
- Geopolitical tensions and rising energy prices pose potential risks to Bayer AG (BAYRY)'s cost structure and supply chain.
Good afternoon, and good morning, everybody. And welcome to our conference call to present the first-quarter results for 2026.
We will keep today's remarks focused. Bill will comment on the overall business performance and report progress on our strategic priorities, and Wolfgang will share more insights into the Q1 financials, the current geopolitical environment, and our outlook. We will then turn to the Q&A session, where the Presidents of our three divisions will join Bill and Wolfgang to answer your questions.
Before we begin, please note the cautionary language in our Safe Harbor statement.
And with that, over to you, Bill.
Thanks, Jost. Hi, everyone. It's good to be here with you today.
Two months ago, we presented our plan for 2026. And this afternoon, we're reporting that our businesses are performing in line with our expectations. So I'll get
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