Net cash used in operating activities
Net operating cash flow amounted to minus €1,794 million in the first quarter of 2026 (Q1 2025: minus €1,015 million). This year-on-year decline was primarily due to higher payments to resolve legal proceedings, which largely related to the PCB and glyphosate litigations and resulted in a net outflow of €2,002 million (Q1 2025: €66 million). That figure included an amount of €432 million that was paid into a trust fund as part of the class settlement to resolve current and future glyphosate claims.
Net cash provided by investing activities
Net investing cash flow stood at €280 million in the first quarter of 2026 (Q1 2025: €161 million).
Net cash inflows from current financial assets totaled €450 million (Q1 2025: €702 million) and were mainly attributable to the sale of investments in money market funds.
Net cash provided by financing activities
There was a net cash inflow of €528 million from financing activities in the first quarter of 2026 (Q1 2025: outflow of €1,241 million).
This figure included net borrowings of €730 million (Q1 2025: net debt repayments of €1,024 million).
Net interest payments amounted to €202 million (Q1 2025: €217 million).
Free cash flow
Free cash flow (total), which is the total operating cash flow less capital expenditures plus interest and dividends received less interest paid, came in at minus €2,320 million in the first quarter of 2026 (Q1 2025: minus €1,528 million), mainly due to the decrease in operating cash flow.
Adjusted for the aforementioned payments to resolve legal proceedings, which largely related to the PCB and glyphosate litigations, free cash flow amounted to minus €318 million (Q1 2025: minus €1,462 million).