Bayer confirms mid-term ambition for Crop Science

The company said, “Bayer (BAYRY) has a plan in place to advance its strategic priorities, said Anderson, who had provided a detailed update on the progress being made at the Annual Stockholders’ Meeting in late April. Profitability at Crop Science was added as a focus area at the start of the year. On Tuesday, Bayer confirmed the mid-term ambition for Crop Science. The division is expected to achieve above-market growth and deliver more than 3.5 billion euros of incremental sales from innovation by 2029. By the same year, the division is targeting an EBITDA margin before special items in the mid-20s percentage range. Cash productivity is also set to increase, with Crop Science targeting a free operating cash flow of over 3 billion euros in 2029. The division has a comprehensive strategy in place to achieve these goals, and has already begun executing it. As previously communicated, the company has launched a five-year plan to combat industry-wide cost pressures, especially in the crop protection business. The measures include streamlining the product portfolio, focusing research and development on value-generating innovations, and optimizing the production network. In doing so, the Crop Science Division aims to not only improve its position in the mid-term but also increase resilience and adaptability across the entire organization to manage macroeconomic and geopolitical uncertainties. With the global population reaching 10 billion in 2050, the future for agriculture lies in innovative solutions that enable farmers to produce more while reducing the environmental impact and restoring soil health. As the innovation leader of the industry, the Crop Science Division is committed to delivering new blockbuster products and providing tools that enable regenerative agricultural systems. Examples include the Preceon Smart Corn System, Vyconic soybeans, an industry-first trait package with tolerance to five herbicides, as well as the new herbicide icafolin.”