Bayer started 2025 with stable sales, but recorded a 7,4% decline in adjusted EBITDA, totaling €4,085 billion in the first quarter. The result was impacted mainly by the performance of the agricultural division (Crop Science), which faced regulatory challenges and strategic adjustments. Nevertheless, the company remains confident in its long-term goals.
Total group sales amounted to €13,738 billion. Net income fell 35,1% to €1,299 billion. EBIT fell 24,8% after special charges of €587 million linked to Roundup herbicide litigation and restructuring. Net financial debt rose 5% from the end of 2024 to €34,255 billion.
The agricultural division reported a 3,3% drop in adjusted sales, reaching €7,580 billion. According to the company's statement, the withdrawal of dicamba registration in the US and the end of Movento's authorization in Europe weighed on the result. The reduction in sales of glyphosate-based products also contributed, although herbicides without this substance increased. The division's EBITDA fell 10,2%, with a margin of 33,7%.
Despite the setback, Bayer reaffirmed its five-year plan for agriculture. The goal is to generate more than €3,5 billion in incremental sales from innovation by 2029. It also projects free cash flow of more than €3 billion and an EBITDA margin in the mid-20% range. Measures include streamlining the portfolio, focusing on research and development with a clearer return and adjustments in production.
Led by Rodrigo Santos, the Crop Science division seeks regenerative solutions. Highlights include the system Preceon corn, soybeans Vyconic, with resistance to five herbicides, and the new herbicide icafolin. The strategy aims at resilience in the face of economic and geopolitical uncertainties.
In the pharmaceuticals division, sales rose 4,1%, driven by new products such as Nubeqa (cancer) and Kerendia (kidney disease), which grew 77,5% and 86,6%, respectively. The radiology segment also saw growth, as did the contraceptives Mirena and YAZ. EBITDA grew 12,4%, with a margin of 29,5%.
The Consumer Health area grew 2,5%, driven by higher volumes in North America and Asia-Pacific. The highlight was the digestive line, with growth of 12,7%. EBITDA increased 3,3%, although the margin fell slightly to 22,8%.
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