Bayer
Quarterly
Statement Q1 2026
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Overview
-
Group Sales
€ 13.4 bn
Fx & p adj. +4.1%
-
EBITDA Before Special Items
€ 4.5 bn
+9.0%
-
Core Earnings per Share
€ 2.71
+12.9%
-
Net Income
€ 2.8 bn
+112.7%
-
Free Cash Flow
–€ 2.3 bn
–51.8%
-
Net Financial Debt
€ 32.5 bn
–5.1%
-
Group Sales
€ 13.4 bn
Fx & p adj. +4.1%
-
Core Earnings per Share
€ 2.71
+12.9%
-
Free Cash Flow
–€ 2.3 bn
–51.8%
-
EBITDA Before Special Items
€ 4.5 bn
+9.0%
-
Net Income
€ 2.8 bn
+112.7%
-
Net Financial Debt
€ 32.5 bn
–5.1%
Chairman’s Message
“It’s early in the year, and the world outlook is volatile, but Team Bayer is confident. We’ve got an essential mission, a clear plan, and we’re focused on delivering 2026.”
Key Figures – Group
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|
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Change (%) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Q1 2025 |
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Q1 2026 |
|
Reported |
|
Fx & p adj. |
|||||||||||
Sales |
|
13,738 |
|
13,405 |
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–2.4 |
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+4.1 |
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Change in sales1 |
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|
|
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Volume |
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–0.2% |
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+5.0% |
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|
|
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|||||||||||
Price |
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+0.1% |
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–0.9% |
|
|
|
|
|||||||||||
Currency |
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–0.4% |
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–6.4% |
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|
|
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|||||||||||
Portfolio |
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+0.3% |
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–0.1% |
|
|
|
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Sales by region |
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|||||||||||
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4,404 |
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4,081 |
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–7.3 |
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–5.6 |
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North America |
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5,822 |
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6,045 |
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+3.8 |
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+14.5 |
|||||||||||
|
2,079 |
|
1,901 |
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–8.6 |
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–0.3 |
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Latin America |
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1,433 |
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1,378 |
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–3.8 |
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–1.8 |
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EBITDA1 |
|
3,498 |
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4,782 |
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+36.7 |
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|
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Special items1 |
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(587) |
|
329 |
|
|
|
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EBITDA before special items1 |
|
4,085 |
|
4,453 |
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+9.0 |
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|
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EBITDA margin before special items1 |
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29.7% |
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33.2% |
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|
|
|
|||||||||||
EBIT1 |
|
2,324 |
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3,528 |
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+51.8 |
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|
|||||||||||
Special items1 |
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(587) |
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324 |
|
|
|
|
|||||||||||
EBIT before special items1 |
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2,911 |
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3,204 |
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+10.1 |
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Financial result |
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(494) |
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(539) |
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–9.1 |
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Net income (from continuing and discontinued operations) |
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1,299 |
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2,763 |
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+112.7 |
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|
|||||||||||
Earnings per share from continuing and discontinued operations (€) |
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1.32 |
|
2.81 |
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+112.9 |
|
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|||||||||||
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2.40 |
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2.71 |
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+12.9 |
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|
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Net cash provided by (used in) operating activities (from continuing and discontinued operations) |
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(1,015) |
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(1,794) |
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–76.7 |
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|
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Free cash flow1 |
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(1,528) |
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(2,320) |
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–51.8 |
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|
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Net financial debt (at end of period) |
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34,255 |
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32,518 |
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–5.1 |
|
|
|||||||||||
Cash flow-relevant capital expenditures (from continuing and discontinued operations) |
|
388 |
|
411 |
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+5.9 |
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Research and development expenses3 |
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1,458 |
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1,419 |
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–2.7 |
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Depreciation, amortization and impairment |
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1,174 |
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1,254 |
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+6.8 |
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Number of employees (at end of period)4 |
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90,885 |
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87,757 |
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–3.4 |
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Personnel expenses (including pension expenses and restructuring measures) |
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3,027 |
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2,811 |
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–7.1 |
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Key Figures – Divisions
-
Sales
€ 7.6 bn
Fx & p adj. +6.8%
-
EBITDA Before Special Items
€ 3.0 bn
+17.9%
-
Sales
€ 4.2 bn
Fx & p adj. –0.5%
-
EBITDA Before Special Items
€ 1.2 bn
–7.5%
-
Sales
€ 1.5 bn
Fx & p adj. +5.3%
-
EBITDA Before Special Items
€ 0.3 bn
–1.5%
Sales by Region
North America
€ 6.0 bn
Fx & p adj. +14.5%
Europe/Middle East/Africa
€ 4.1 bn
Fx & p adj. –5.6%
Latin America
€ 1.4 bn
Fx & p adj. –1.8%
Asia/Pacific
€ 1.9 bn
Fx & p adj. –0.3%
North America
€ 4.1 bn
Fx & p adj. +16.6%
Europe/Middle East/Africa
€ 2.0 bn
Fx & p adj. –2.2%
Latin America
€ 1.0 bn
Fx & p adj. –7.3%
Asia/Pacific
€ 0.5 bn
Fx & p adj. –1.2%
North America
€ 1.5 bn
Fx & p adj. +15.2%
Europe/Middle East/Africa
€ 1.4 bn
Fx & p adj. –14.7%
Latin America
€ 0.2 bn
Fx & p adj. +9.5%
Asia/Pacific
€ 1.2 bn
Fx & p adj. –1.3%
North America
€ 0.5 bn
Fx & p adj. –1.4%
Europe/Middle East/Africa
€ 0.6 bn
Fx & p adj. +7.2%
Latin America
€ 0.2 bn
Fx & p adj. +18.9%
Asia/Pacific
€ 0.2 bn
Fx & p adj. +8.1%
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.
Finding hope after a diagnosis
SeongYeol led a largely healthy life during his active working years. However, five years after his retirement, everything changed when he was confronted with a double diagnosis that turned his life – and that of his family – upside down. Thanks to their resilience and hope, they remained strong together.
Read his story here
How a bag of corn changed a couple’s life
PJ and Thea had been struggling to build a new life on their farm, with their melon crop failing to deliver the harvest they had been hoping for. But that all changed when PJ unexpectedly won a bag of corn seed at a farming seminar. Today, they successfully run a medium-sized farm in the Philippines and are living their dream.
Read their story here
“I always had to know where the nearest toilet was”
Frequent trips to the bathroom as early as elementary school, regular restroom stops while traveling on school trips, and skipping breakfast were all part of Krzysztof’s daily life. The stomach issues that the now 36-year-old has faced have been a source of significant stress and shame since his childhood. “I always had to know where the nearest toilet was,” he says, recalling all the limitations he had to contend with as a result of his condition. Today, he doesn’t go anywhere without Iberogast™.
Read his story hereDownloads
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