(Il Sole 24 Ore Radiocor) - Milano, 12 mag - German chemical and pharmaceutical company Bayer said that its first quarter sales rose a currency and portfolio adjusted 4.1% to 13.405 billion euros.

There was a negative currency effect of 886 million euros.

EBITDA before special items increased by 9.0% to 4.453 billion euros. This figure included a negative currency effect of 321 million euros. EBIT rose by 51.8% to 3.528 billion euros after net special gains of 324 million euros mainly related to the sale of the global Avelox business for 250 million euros.

Net income came in at 2.763 billion euros, and was therefore more than two times higher than a year earlier.

Core earnings per share climbed 12.9% to 2.71 euros, largely driven by the increase in earnings at the Crop Science Division. However, growth was partially held back by a negative currency effect of 0.20 euros.

Free cash flow came in at minus 2.320 billion euros compared with a negative 1.528 billion euros a year ago reflecting payments to resolve legal proceedings, which increased as expected and largely related to the PCB and glyphosate litigations.

Overall, these payments resulted in a net outflow of 2.002 billion euros from 66 million euros a year ago. Net financial debt as of March 31, 2026, came in at 32.518 billion euros, up 9.0% from December 31, 2025, as a result of the negative free cash flow. Compared to March 31, 2025, however, net financial debt was down 5.1%.

Bayer reiterated its outlook at constant currencies for the full-year 2026. It also prepared its guidance based on closing-day currency rates. Applying the rates in effect on March 31, 2026, the company now expects sales to come in at 44.5 to 46.5 billion euros from a previous 44 to 46 billion euros, EBITDA before special items at 9.4 to 9.9 billion euros from a previous 9.1 to 9.6 billion euros, and core EPS at 4.10 to 4.60 euros from a previous 4.00 to 4.50 euros, with the changes solely reflecting the impact of currency.

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(RADIOCOR) 12-05-26 08:46:53 (0193) 5 NNNN