Crop Science

Second quarter of 2026

Sales

Sales at Crop Science rose by 3.5% (Fx & portfolio adj.) to €4,910 million in the second quarter of 2026. Growth was mainly driven by significant gains for our glyphosate-based herbicides and our Soybean Seed & Traits, Cotton Seed and Insecticides businesses. By contrast, sales at Corn Seed & Traits were down slightly following a strong first quarter.

• Corn Seed & Traits posted a slight decline in sales, with strong growth in Europe/Middle/Africa and Asia/Pacific only partially offsetting lower volumes in North America due to volume phasing into the first quarter.

• At Herbicides, our glyphosate-based products registered double-digit gains driven by both volume growth and higher prices, with business mainly up in Europe/Middle East/Africa. By contrast, sales of our non-glyphosate-based products decreased mainly due to lower prices in North America amid ongoing generic pressure.

• Our Fungicides business posted moderate declines that were largely attributable to adverse weather and generic pressure in Europe/Middle East/Africa. By contrast, we recorded substantial volume growth in Asia/Pacific and North America.

• Sales at Soybean Seed & Traits advanced considerably. Business in North America mainly benefited from continued price recovery following the return of the dicamba label in the United States and strong product performance. We also recorded strong growth in Latin America that was driven by higher volumes.

• At Insecticides, we recorded significant gains that were primarily fueled by higher volumes and prices in Europe/Middle East/Africa and Asia/Pacific.

• Sales in our Vegetable Seeds business declined due to lower volumes in Latin America. However, this effect was partly offset by solid performance in Europe/Middle East/Africa.

• Our Cotton Seed business posted an increase in sales driven by significantly higher volumes and prices in North America that were attributable to the return of the dicamba label.

• In the reporting unit Other, sales were mainly up in our canola business, which posted substantial gains driven by higher volumes.

Earnings

EBITDA before special items at Crop Science rose by 30.2% to €902 million in the second quarter of 2026 (Q2 2025: €693 million). Earnings growth was mainly fueled by the solid increase in sales as well as a substantial decline in the cost of goods sold driven by our efficiency programs. By contrast, there was a negative currency effect of €42 million (Q2 2025: €55 million). The EBITDA margin before special items advanced by 3.9 percentage points to 18.4%.

EBIT came in at €144 million (Q2 2025: minus €414 million) in the second quarter of 2026 after special charges of €54 million (Q2 2025: net special charges of €417 million) that primarily related to ongoing restructuring programs.

First half of 2026

Sales

Sales at Crop Science rose by 5.5% (Fx & portfolio adj.) to €12,468 million in the first half of 2026. Business was mainly buoyed by significant gains at Soybean Seed & Traits arising from the resolution of a licensing agreement with Corteva and the return of the dicamba label, as well as solid performance at Corn Seed & Traits. By contrast, Herbicides and Fungicides posted a decline in sales after continuing to encounter a challenging market environment.

Sales at Corn Seed & Traits increased in all regions. Business was mainly up in Europe/Middle East/Africa and North America, where sales advanced due to strong product performance and successful commercial execution. In the Herbicides business, our non-glyphosate-based products posted a substantial decline in volumes in Europe/Middle East/Africa due to regulatory impacts, as well as lower volumes in Asia/Pacific. Sales of our glyphosate-based products came in at the prior-year level, with lower volumes mostly offset by higher prices. Fungicides posted a decline in sales, with business mainly impacted by challenging market conditions in Latin America and Europe/Middle East/Africa. By contrast, sales in Asia/Pacific rose due to substantial volume growth. At Soybean Seed & Traits, we recorded a significant increase in sales, with business mainly up in North America due to the aforementioned resolution of a licensing agreement, an increase in planted area and price recovery following the return of the dicamba label. We also recorded strong growth in Latin America that was fueled by higher volumes. Sales at Insecticides were up year on year, mainly driven by higher volumes in Europe/Middle East/Africa and Asia/Pacific outweighing declines in Latin America. At Vegetable Seeds, volumes were down against the prior-year period, especially in Latin America. Our Cotton Seed business registered an increase in sales that was mainly driven by significantly higher prices in North America following the return of the dicamba label as well as lower product returns. In the reporting unit Other, sales were mainly up in our canola business due to substantially higher volumes.

Earnings

EBITDA before special items at Crop Science increased by 20.5% to €3,916 million in the first half of 2026. The rise in earnings was primarily attributable to topline growth in our Soybean Seed & Traits and Corn Seed & Traits businesses as well as a substantial decline in the cost of goods sold driven by our efficiency programs. By contrast, there was a negative currency effect of €319 million (H1 2025: €81 million). The EBITDA margin before special items increased by 5.1 percentage points to 31.4%.

EBIT amounted to €2,421 million (H1 2025: €972 million) after net special charges of €8 million (H1 2025: €818 million). The special charges primarily related to ongoing restructuring programs and were largely offset by positive effects arising from a change in the discount rate applied for our provisions for litigations.