Bayer reports Q1 core EPS EUR 2.49 vs. EUR 2.82 last year

Group sales came in at EUR 13.74B vs. EUR 13.77B last year. EBITDA before special items was EUR 4.09B vs. EUR 4.4B last year. Group EBIT came in at EUR 2.32B vs. EUR 3.09B last year. Net income amounted to EUR 1.3B vs. EUR 2B last year. Free cash flow was negative EUR 1.5B vs. negative EUR 2.6B last year. Net financial debt stood at EUR 34.3B. “Our first quarter puts us in a good spot to deliver in a challenging and important year for the company,” CEO Bill Anderson said. He highlighted the substantial growth in earnings in the Pharmaceuticals Division. “That is an encouraging sign that our operating model is helping teams do more with less,” Anderson said. The company expects the division’s sales growth and profit margin to come in at the upper end of the range given in the full-year guidance. “We’re confident in the momentum of our launches and the fundamentals of our business,” he said, commenting on Pharmaceuticals’ prospects. At the same time, Bayer (BAYRY) is closely monitoring the current geopolitical and economic uncertainties, and analyzing potential impacts on the company.