Bayer AG Posts Weaker non-GAAP Earnings per Share of €1.85 on Sales of €11.86 Billion; Provides Outlook for FY24
Bayer AG (BAYZF) just released its quarterly and full-year financial results. The international pharma company’s Q4 non-GAAP earnings per share came in at €1.85, missing expectations. Sales of €11.86 billion (-1.2% YoY).
As of December 31, net financial debt increased by 8.5% from the end of 2022 to €34.498 billion. Bayer's financial results were weak, mainly due to the temporary impact of contraction in its crop science business and international markets.
Outlook 2024: Bayer expects sales in 2024 of €4.7 to 49 billion, on a currency adjusted basis. The company expects currency-adjusted EBITDA of €1.07 to 11.3 billion. Core earnings per share are expected to be €5.10 to €5.50 (vs. consensus of €5.40 to €5.70), with free cash flow of €2 to €3 billion (vs. expected > €3.2 billion). Net financial debt is expected to increase to between €3.25 and €33.5 billion by the end of 2024. Pretty lukewarm outlook, one must note.
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