Bayer Crop Science increases revenue and margin in the second quarter

Bayer's Crop Science division reported revenue of €4,910 billion in the second quarter of 2026. This represents a 3,5% increase on an adjusted basis for exchange rates and portfolio. EBITDA before special items advanced 30,2% to €902 million. The margin increased from 14,5% to 18,4% year-on-year. Sales growth and reduced cost of goods sold supported the performance.

Bayer's Chairman of the Board, Bill Anderson, stated that the group is maintaining its projected performance for the fiscal year. "Operationally, we are on track to achieve our projections for the year," said the executive during the results presentation. Anderson also highlighted the execution of the Crop Science five-year plan as one of the company's strategic priorities.

Seeds and crop protection

Soybean seed and trait business grew 16,9% in the quarter. The cotton seed area advanced 69,2%. The company attributed part of this movement to the return of dicamba registration in the United States. The corn seed and trait segment declined 2,5%. Gains in Europe, the Middle East, Africa, Asia and the Pacific only partially offset the reduction in volumes in North America. Bayer reported a concentration of sales in the first quarter in that region.

In crop protection, glyphosate-based herbicides led the growth. Sales rose 12,6%, with increases in volume and prices. Europe, the Middle East, and Africa saw the main advances. Insecticides grew 15,9%. Higher volumes and prices in these regions, as well as in Asia and the Pacific, contributed to the result.

Agricultural recipe

Agricultural revenue reached €4,910 billion, compared to €4,788 billion in the second quarter of 2025. Reported growth reached 2,5%. On an adjusted basis, Europe, the Middle East and Africa grew by 3,3%. North America advanced 3,4%. Asia and the Pacific increased by 9,5%. Latin America remained practically stable, with an increase of 0,1%.

The improved operating results also reflected the division's efficiency programs. The cost of goods sold fell. The company attributed this movement to the execution of Crop Science's five-year plan. The program seeks to increase profitability and preserve the global competitiveness of the agricultural business.

first semester

In the first half of the year, Crop Science's revenue reached €12,468 billion. The adjusted growth was 5,5%. EBITDA before special items grew 20,5% to €3,916 billion. The margin reached 31,4%, compared to 26,3% in the same period of 2025. This performance was supported by the soybean and corn areas, licensing revenues, and efficiency programs.

Bayer also reorganized its glyphosate business in the United States. The company consolidated this operation into Ruveon LLC. The new structure assumed responsibility for pricing, commercial strategies, production, and logistics in the North American market. Ruveon remains within the Bayer group and is integrated into the execution of Crop Science's five-year plan.

The company also announced a licensing agreement for the widespread commercialization of hybrid wheat. This initiative is part of a strategy to renew its agricultural portfolio.

Other segments

In other segments, the Pharmaceuticals division recorded revenue of €4,458 billion in the quarter. This figure was close to that observed a year earlier, with an adjusted increase of 0,8%. EBITDA before special items fell 3,6% to €1,055 billion. Consumer Health achieved revenue of €1,445 billion, with adjusted growth of 1,5%. EBITDA before special items decreased 3,6% to €319 million.

Overall result

In the group, second-quarter revenue totaled €10,872 billion. The adjusted increase was 2,2%. EBITDA before special items grew 1,9% to €2,144 billion. Net profit reached €219 million, compared to a loss of €199 million in the same period of 2025. Free cash flow was negative at €371 million. Payments related to litigation contributed to this result. Net financial debt ended June at €33,647 billion.

Projections for 2026

For 2026, Bayer maintained its group projections on a constant currency basis for revenue, results, and free cash flow. The company only revised its estimate for net financial debt. The new range is from €29 billion to €30 billion. The previous forecast ranged from €32 billion to €33 billion. The adjustment considers a €3 billion investment from funds managed by Apollo in a new company linked to the long-acting reversible contraceptive business.

In Crop Science, Bayer is monitoring climate and geopolitical risks during the second half of the year. The company cited potential effects of El Niño and climate volatility on planting and productivity in some regions. The company is also maintaining its five-year plan, focusing on cost reduction, margin expansion, and adjustments to its business structure.