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Aug. 5, 2021 Source: Bayer news release *Group sales increase by 12.9 percent (Fx & portfolio adj.) to 10.854 billion euros - double-digit percentage growth (Fx & portfolio adj.) at all divisions *EBITDA before special items declines by 10.6 percent to 2.577 billion euros, burdened by currency effects of 153 million euros *Crop Science posts strong sales growth, earnings impacted by higher costs and currency effects *Pharmaceuticals reports significant recovery after COVID-19 effects in prior year *Consumer Health continues growth momentum *Core earnings per share rise by 1.3 percent to 1.61 euros *Net income at minus 2.335 billion euros, additional provisions of around 3.5 billion euros established for glyphosate litigations *Strong free cash flow of 1.152 billion euros *Full-year guidance upgraded *Good pipeline news: Kerendia gains U.S. approval; acquisition of Vividion Therapeutics agreed; start of first clinical study for Parkinson's cell therapy treatment Crop Science grows sales in all regions In the agricultural business (Crop Science), Bayer increased sales by 10.6 percent (Fx & portfolio adj.) to 5.021 billion euros, with growth in all regions. The division registered double-digit percentage gains in Latin America and Asia/Pacific as well as significant growth in North America after adjusting for currency and portfolio effects. Fungicides (Fx & portfolio adj. plus 22.9 percent) and Herbicides (Fx & portfolio adj. plus 16.2 percent) achieved particularly strong gains. Fungicides registered a significant increase in volumes, primarily in Latin America thanks to the Fox Xpro product, and also in North America due to the launch of new products such as Delaro Complete. The increase in sales at Herbicides was driven by increased volumes and prices, especially in North America, which saw higher volumes for XtendiMax and increased prices for Roundup. Business was also up at Soybean Seeds & Traits, which recorded growth of 9.1 percent (Fx & portfolio adj.) thanks to higher volumes in North America. Sales at Corn Seed & Traits advanced by 8.6 percent (Fx & portfolio adj.), with business benefiting in particular from increased volumes in Latin America and higher prices in North America. EBITDA before special items at Crop Science decreased by 25.4 percent to 1.018 billion euros, giving a margin of 20.3 percent. Higher prices and volumes along with contributions from ongoing efficiency programs only partly offset an increase in costs, and particularly in the cost of goods sold. Earnings were also diminished by a negative product mix, currency effects of 111 million euros, and the later receipt of license revenues. To read the entire report click here. Tweet |
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