Bayer AG reported sales of 10.872 billion euros in the second quarter of 2026, a 2.2% increase on a currency- and portfolio-adjusted basis, as the German pharmaceutical and agriculture company continued efforts to address legal liabilities and strengthen its financial position.
The company’s EBITDA before special items rose 1.9% to 2.144 billion euros. Net income reached 219 million euros, compared with a loss of 199 million euros in the prior-year quarter.
CEO Bill Anderson said the company remains on track to meet its full-year outlook. He cited a U.S. Supreme Court ruling in the Durnell case as strengthening Bayer’s position for a proposed class settlement agreement related to ongoing litigation.
“Our containment strategy is in a strong place, with some important milestones ahead,” Anderson said Tuesday when presenting the half-year financial report.
The Crop Science division led performance with sales up 3.5% to 4.910 billion euros. EBITDA before special items jumped 30.2% to 902 million euros, driven by growth in glyphosate-based herbicides and efficiency gains from the division’s Five-Year Framework program.
Pharmaceuticals sales held steady at 4.458 billion euros. The cancer drug Nubeqa posted a 63.9% sales increase, while Kerendia, which treats chronic kidney disease and heart failure, saw sales rise 82.9%. However, those gains were offset by expected declines in Xarelto and Eylea following patent expirations. Division earnings fell 3.6% to 1.055 billion euros due to higher marketing investments.
Consumer Health sales increased 1.5% to 1.445 billion euros, though earnings declined 3.6% to 319 million euros on higher costs.
Core earnings per share fell 16.7% to 0.95 euros. Free cash flow was negative 371 million euros, partly due to litigation settlement payments.
Net financial debt stood at 33.647 billion euros as of June 30. Bayer now expects year-end debt of 29 billion to 30 billion euros, down from an earlier forecast of 32 billion to 33 billion euros, reflecting a 3 billion euro capital contribution from Apollo-managed funds for a minority stake in the company’s contraceptives business.
Dr. Judith Hartmann, who became CFO in June, said the company will focus on strengthening the balance sheet and improving cash generation.
