The Bayer Group bring forth increase sales and lower profits in the second one-quarter of 2024 . Each occupation drive home a competitive operation in their respective industry , positioning the Group to substantiate its 2024 outlook . " Our Crop Science business virtually offset headwind in a intriguing farming mart environment , " CEO Bill Anderson said on Tuesday when presenting the company ’s half - year fiscal report . In addition , the Pharmaceuticals Division ’s fresh merchandise Nubeqa ™ and Kerendia ™ continued their telling impulse , and Consumer Health return to maturation , he noted . Beyond its operating progress , the company advanced on its strategical priorities . " One of the fundamental commitments we made at Capital Markets Day is that this organization will consistently perform while simultaneously address the longer - condition roadblock control us back . The 154 days since March 5th have been pretty undecomposed evidence that we can do both . "
Anderson outlined where the society stand in address four strategic focus areas , with good progress in increase and innovation , the US judicial proceeding , cash and deleveraging , and the creation of the fresh Dynamic Shared Ownership ( DSO ) operating model . spotlight the headway the Pharmaceuticals Division is making in driving invention , he notice : " In just the past 90 days , we ’ve taken big steps toward fill the mid - microscope stage word of mouth , expanding label and encourage previous - stage asset . " Just latterly , Bayer has unloosen overconfident Phase III results that could pave the way for broader indication for the cancer drug Nubeqa ™ and Kerendia ™ for the handling of inveterate kidney disease associate with type 2 diabetes . Anderson also noted that the company is contrive to launch two new drugs as betimes as next twelvemonth : elinzanetant , a non - hormonal solution for women suffering from vasomotor symptoms link up with menopause , and acoramidis , a cardiology drug Bayer has undivided merchandising rights for in Europe . " Our Pharma word of mouth is one of our biggest levers for note value instauration , " he tell .
Group sales rose by 3.1 percent on a currency- and portfolio - adjusted ground ( Fx & portfolio adj . ) to 11.144 billion euros in the second quarter of 2024 . There was a damaging currency effect of 240 million euro ( Q2 2023 : 553 million euro ) . EBITDA before special item decreased by 16.5 percent to 2.111 billion euro . This figure include a negative currentness impression of 129 million euros ( Q2 2023 : 120 million euros ) . The decline in lucre was principally due to an unfavorable product mix . In accession , the provisions for the Group - full short - term incentive computer programme were low-down in the prior - year period . exabit improved to 525 million euros ( Q2 2023 : minus 956 million euros ) after net special direction of 490 million euros ( Q2 2023 : 2.490 billion euros ) . The special charges primarily pertain to expense for ongoing restructuring bill and affected all divisions and operable areas . Net income add up to minus 34 million euros ( Q2 2023 : minus 1.887 billion euros ) .
Free cash flow came in at 1.273 billion euro ( Q2 2023 : minus 473 million euro ) , mainly due to the increment in operate cash flowing . Net fiscal debt as of June 30 stick out at 36.760 billion euro , down 1.9 percentage from the remnant of March , mainly as a result of immediate payment inflows from operating activities .
Business up more or less at Crop ScienceIn the agrarian commercial enterprise ( Crop Science ) , sales increased by 1.1 percent ( Fx & portfolio adj . ) to 4.981 billion euros . ontogeny was primarily driven by higher sales of glyphosate - based herbicides , with a particularly potent performance in North America . Despite a declivity in sales of non - glyphosate - base ware , the Herbicides strategical business organization entity posted overall growth of 8.7 per centum ( Fx & portfolio adj . ) . Sales at Soybean Seed & Traits increase by a pregnant 12.4 percent ( Fx & portfolio adj . ) , in the main thanks to considerably higher volumes in North America . clientele was also up at Insecticides , with development of 6.9 percent ( Fx & portfolio adj . ) . By direct contrast , sales at Fungicides were down amid a soft market surround , fall 12.4 percent ( Fx & portfolio adj . ) as a result of lower book and Price in North and Latin America . Sales also decreased at Corn Seed & Traits , which saw a decline of 2.8 percent ( Fx & portfolio adj . ) that was in the main attributable to depressed volume in Latin and North America amid a declination in planted acreages .
Earnings Before Interest Taxes Depreciation and Amortization before peculiar detail at Crop Science decreased by 27.7 percent to 524 million euros , partially due to an unfavourable product admixture . By contrast , there was a positive up-to-dateness effect of 49 million euros ( Q2 2023 : negatively charged currency effect of 96 million euro ) .
Group mindset confirmedBayer support its Group outlook for full - year 2024 . " We remain on track to deliver , " Anderson articulate . For the Crop Science Division , the company expects currency- and portfolio - adjusted sales growing and the EBITDA margin before limited particular to come in at the lower end of the contrive ranges ( between minus 1 and plus 3 per centum , and between 20 and 22 percentage , respectively ) . For the Pharmaceuticals Division , Bayer has upgrade its forecast for currency- and portfolio - adjusted sales growth to between 0 and 3 pct ( previously : between minus 4 and 0 percent ) .
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