|
 |
|
|
|||
|
 |
|
Mar. 17, 2025 Source: Bayer news release Leverkusen, Germany - The Bayer Group achieved its adjusted guidance for 2024. "We have three great businesses, with attractive long-term prospects," CEO Bill Anderson said at the Financial News Conference on Wednesday. "However, to get to the opportunities ahead, we first need to steer through what will continue to be challenging times," he noted, adding: "We still have work to do." Anderson called 2025 a "pivotal year" for the company. It is the second year in Bayer's turnaround and will be the most difficult in terms of financial performance, with net sales roughly in line with and earnings and free cash flow behind the prior year, he explained. The company expects improved performance from 2026 onwards. Alongside its four existing strategic priorities, the company is adding profitability at Crop Science as a fifth focus area, coupled with the launch of a comprehensive, five-year plan to improve earnings. "You're going to see us with our sleeves rolled up, focused on taking the right actions to set up our customers, our company and our owners for a prosperous future," he added. Crop Science impacted by lower prices in crop protection business Sales at Crop Science decreased by 2.0 percent (Fx & portfolio adj.) to 22.259 billion euros. Business was primarily impacted by lower prices in the crop protection business driven by competitive pricing pressure. Lower volumes in seeds and traits due to lower planted area were offset by volume growth in crop protection. Sales in Latin America were down due to lower planted corn area and reduced crop protection prices. By contrast, North America delivered slightly higher sales driven by higher crop protection volumes and soybean planted area, partially offset by lower corn planted area. EBITDA before special items at Crop Science decreased by 14.2 percent to 4.325 billion euros, mainly due to significant price declines in the crop protection business. Earnings were also impacted by higher provisions for the Group-wide short-term incentive (STI) program as well as inflationary cost increases, whereas the cost of goods sold improved due to efficiencies, especially for crop protection products. There was also a positive currency effect of 37 million euros (2023: 103 million euros). The EBITDA margin before special items declined by 2.3 percentage points to 19.4 percent. To read the entire report click here. Tweet |
|
|
|
|
|
|
|
|
|||||||||||||
