BAYRY - Bayer's Q1 revenue grows backed by agriculture business; confirms FY22 outlook

Bayer's (OTCPK:BAYRY) (OTCPK:BAYZF) Q1 revenue grew on the back of sales of its Agriculture segment, and the company maintained its FY22 outlook. The German conglomerate's core EPS grew +36.3% Y/Y to $3.53. Net income (including discontinued operations) grew +57.5% to ~€3.29B. Group sales grew +18.7% Y/Y (or +14.3% on a currency and portfolio-adjusted basis, or Fx & portfolio adj.) to ~€14.64B. “We achieved outstanding sales and earnings growth, with particularly substantial gains for our agriculture business,” said Werner Baumann, chairman of the board of management. The company said that in Q1 group sales and earnings were not negatively impacted by Russia’s invasion of Ukraine. In total, the two countries account for ~3% of sales. Bayer added that sales from Agricultural business (Crop Science) increased +27.1% Y/Y (+21.6% on Fx & portfolio adj.) to ~€8.45B due to substantial price and volume growth. Herbicides grew at +59.8% and Fungicides 18.6% Y/Y, both on Fx & portfolio

For further details see:

Bayer's Q1 revenue grows backed by agriculture business; confirms FY22 outlook