Bayer reports Q3 core EPS EUR 0.24 vs. EUR 0.38 last year

Group sales came in at EUR 9.968B vs. EUR 10.34B last year, up 0.6% on a currency- and portfolio-adjusted basis. There was a negative currency effect of EUR 436M. EBITDA before special items decreased by 25.8% to EUR 1.251B. This figure included a negative currency effect of EUR 94M. Group EBIT came in at minus EUR 3.822B. This figure included net special charges of EUR 4.088B that mainly related to non-cash impairment losses on intangible assets in the Crop Science Division. Net income amounted to minus EUR 4.183B. Free cash flow declined by 29.4% to EUR 1.148B, largely due to a decrease in operating cash flow that was primarily attributable to quarterly shifts in the reduction of receivables in the Crop Science Division. Net financial debt as of September 30, 2024, stood at EUR 35.037B, down 4.7% from the end of June. This decline was mainly due to cash inflows from operating activities and positive currency effects.”We’ve rapidly scaled the new operating model and significantly leveled up the Pharma pipeline,” said CEO Bill Anderson. “We are confirming our 2024 Group guidance in nearly all parameters…We’re tackling challenges head on and making progress on our four strategic priorities.”