Annual Report 2025
Bayer logo on a colorful background.Bayer logo on a colorful background.Bayer logo on a colorful background.

Dashboard 2025

scroll down
Key Figures – Group

Key Figures – Group

  • Group Sales

    € 45.6 bn

    Fx & p adj. +1.1%

  • EBITDA
    Before Special Items

    € 9.7 bn

    –4.5%

  • Core Earnings per Share

    € 4.91

    –2.8%

  • Number of Employees

    88,078

    (Dec. 31)

    Two women and one man in business attire are posing and smiling at the camera. From left to right: a woman wearing a blue blazer and glasses, holding a laptop; a man in a black shirt and beige blazer; and a woman in a red blouse holding a cup with the Bayer logo. An office environment is visible in the background.

  • Free Cash Flow

    € 2.1 bn

    –32.9%

  • Net Financial Debt

    € 29.8 bn

    –8.5%

  • “Last year tested us. And Team Bayer was up to the task. In July, we raised our guidance and we hit our upgraded targets.”

    Bill Anderson (CEO)
    Section of an image featuring Bill Anderson in relief, wearing a light blue T-shirt, a blue blazer, and glasses, smiling at the camera.

  • Outlook for 2026

    Stable sales and earnings (Fx adj.), free cash flow to be heavily impacted by settlement payments

Sales by Region

Sales by Region

North America

€ 16.7 bn

Fx & p adj. +5.1%

Europe/Middle East/Africa

€ 13.5 bn

Fx & p adj. –3.5%

Latin America

€ 7.8 bn

Fx & p adj. +4.7%

Asia/Pacific

€ 7.5 bn

Fx & p adj. –2.8%

North America

€ 8.9 bn

Fx & p adj. –1.2%

Europe/Middle East/Africa

€ 4.5 bn

Fx & p adj. +1.4%

Latin America

€ 6.1 bn

Fx & p adj. +4.5%

Asia/Pacific

€ 2.1 bn

Fx & p adj. +0.3%

North America

€ 5.8 bn

Fx & p adj. +19.7%

Europe/Middle East/Africa

€ 6.4 bn

Fx & p adj. –8.4%

Latin America

€ 1.0 bn

Fx & p adj. +7.7%

Asia/Pacific

€ 4.6 bn

Fx & p adj. –3.8%

North America

€ 2.0 bn

Fx & p adj. –2.0%

Europe/Middle East/Africa

€ 2.3 bn

Fx & p adj. +3.2%

Latin America

€ 0.7 bn

Fx & p adj. +2.6%

Asia/Pacific

€ 0.8 bn

Fx & p adj. –5.3%

Key Figures – Divisions

Key Figures – Divisions

Sales

€ 21.6 bn

Fx & p adj. +1.1%

EBITDA
Before Special Items

€ 4.2 bn

–3.2%

EBITDA Margin
Before Special Items

19.4 %

Forecast for 2026

(currency-adjusted)

Sales (Fx & p adj. change) 0 to +3 %

EBITDA Margin
Before Special Items 20 to 22 %

Business Development: Crop Science

Sales

€ 17.8 bn

Fx & p adj. +1.7%

EBITDA
Before Special Items

€ 4.5 bn

–4.2%

EBITDA Margin
Before Special Items

25.4 %

Forecast for 2026

(currency-adjusted)

Sales (Fx & p adj. change) 0 to +3 %

EBITDA Margin
Before Special Items 23 to 25 %

Business Development: Pharmaceuticals

Sales

€ 5.8 bn

Fx & p adj. –0.1%

EBITDA
Before Special Items

€ 1.3 bn

–1.8%

EBITDA Margin
Before Special Items

23.1 %

Forecast for 2026

(currency-adjusted)

Sales (Fx & p adj. change) 0 to +4 %

EBITDA Margin
Before Special Items 22 to 24 %

Business Development: Consumer Health
Real Stories, Real Impact

Real Stories, Real Impact

With a global footprint spanning some 80 countries, our company is home to dedicated employees who are passionate about advancing our mission: “Health for all, Hunger for none.” To learn more about how Bayer is making a difference, we asked three people to share their stories – stories that will undoubtedly resonate with many people around the world.

A woman in profile, wearing a colorful shirt, is looking out the window into the distance.

A further Lease of Life

Katherine, UK

When the first symptoms appeared, Katherine knew it had to be heart-related. Yet, despite the diagnosis, she remains positive and wants to continue enjoying her life as much as possible.

Read her story here
A man wearing a light striped shirt, dark pants, and a black-and-white baseball cap is looking into the distance on a dry field.

“I Want to Leave the Earth in a Better State.”

Tory, USA

Tory is a modern farmer who sees Bayer as a partner – a partner who stands always by him.

Read his story here
An older woman with glasses, captured in a half-profile, is sitting on a fabric sofa and smiling.

“It’s Just a Scar That Remains. So What?”

Chrissy, Germany

After being injured in a car accident, Chrissy turned to Bepanthen™ to help treat and heal her scars.

Read her story here
Five-Year Summary

Five-Year Summary

Five-Year Summary

€ million

 

2021

 

2022

 

2023

 

2024

 

2025

Bayer Group financial KPIs

 

 

 

 

 

 

 

 

 

 

Sales

 

44,081

 

50,739

 

47,637

 

46,606

 

45,575

EBITDA1

 

6,409

 

13,515

 

10,632

 

8,712

 

1,708

EBITDA before special items1

 

11,179

 

13,513

 

11,706

 

10,123

 

9,669

EBITDA margin before special items1

 

25.4%

 

26.6%

 

24.6%

 

21.7%

 

21.2%

EBIT1

 

3,353

 

7,012

 

612

 

(71)

 

(1,077)

EBIT before special items1

 

7,295

 

9,257

 

7,589

 

5,436

 

5,108

Net income (from continuing and discontinued operations)

 

1,000

 

4,150

 

(2,941)

 

(2,552)

 

(3,620)

Earnings per share (from continuing and discontinued operations) (€)1

 

1.02

 

4.22

 

(2.99)

 

(2.60)

 

(3.68)

Core earnings per share (from continuing operations) (€)1

 

6.51

 

7.94

 

6.39

 

5.05

 

4.91

Free cash flow

 

1,415

 

3,111

 

1,311

 

3,107

 

2,084

Net financial debt

 

33,137

 

31,809

 

34,498

 

32,626

 

29,843

Return on capital employed (ROCE) (%)

 

3.8

 

7.7

 

0.7

 

–0.1

 

–1.4

Research and development expenses2

 

5,412

 

6,572

 

5,371

 

6,209

 

5,769

Dividend per share (€)

 

2.00

 

2.40

 

0.11

 

0.11

 

0.11

 

 

 

 

 

 

 

 

 

 

 

Bayer Group nonfinancial KPIs3

 

 

 

 

 

 

 

 

 

 

Number of smallholder farmers in low- and middle-income countries supported by products, services and partnerships (million)

 

49

 

52

 

53

 

52

 

53

Number of women in low- and middle-income countries who have their need for modern contraception satisfied due to interventions supported by Bayer (million)

 

41

 

44

 

46

 

51

 

68

Number of people in underserved4 communities whose self-care is supported by interventions from Bayer (million)

 

46

 

49

 

51

 

53

 

82

Scope 1 and 2 greenhouse gas emissions (million metric tons)

 

3.17

 

3.03

 

3.00

 

2.96

 

2.79

Scope 3 greenhouse gas emissions from relevant categories (million metric tons)5

 

9.06

 

10.32

 

9.72

 

8.82

 

9.10

Offsetting of remaining Scope 1 and 2 greenhouse gas emissions (million metric tons)

 

0.30

 

0.45

 

0.60

 

0.71

 

0.91

 

 

 

 

 

 

 

 

 

 

 

Employees

 

 

 

 

 

 

 

 

 

 

Number of employees6 (Dec. 31)

 

99,637

 

101,369

 

99,723

 

92,815

 

88,078

Personnel expenses (including pension expenses and restructuring measures) (€ million)

 

11,798

 

12,619

 

10,691

 

12,451

 

11,725

1

For definition see A 2.3 “Alternative Performance Measures Used by the Bayer Group.”

2

After special items and depreciation/amortization/impairments

3

For more information see A 4 “Sustainability Statement.”

4

Economically or medically

5

2024 and base year values restated owing to an extension to the methodology and the use of more precise emissions factors

6

Employees calculated as full-time equivalents (FTEs)