Bayer confirms FY24 group outlook for sales growth, currency-adjusted core EPS

The company said, “Bayer (BAYRY) has confirmed its 2024 Group guidance for currency- and portfolio-adjusted sales growth, currency-adjusted core earnings per share, and free cash flow. However, in view of the weaker-than-anticipated development of the agricultural market, the company has revised some parts of its Group forecast. For example, Bayer now expects to generate EBITDA before special items of between EUR 10.4B and EUR 10.7B, previous forecast: between EUR 10.7B and EUR 11.3B, based on the average monthly exchange rates in 2023. The company has also made adjustments to its guidance at divisional level based on these rates: For Crop Science, Bayer now anticipates currency- and portfolio-adjusted sales growth of between minus 3% and minus 1%, previous forecast: lower end of the projected range of between minus 1% and plus 3%, and an EBITDA margin before special items of between 18% and 20%, previous forecast: lower end of the projected range of between 20% and 22%. For Consumer Health, the company now expects currency- and portfolio-adjusted sales growth of between 1% and 3%, previous forecast: between 3% and 6%. For Pharmaceuticals, the division is now expected to come in at the upper end of the upgraded guidance issued in the Half-Year Financial Report, which projected currency- and portfolio-adjusted sales growth of between 0% and 3% and an EBITDA margin before special items of between 26% and 29%.”