Overview of Business Performance

Target Attainment 2018

Target Attainment 2018

Target Attainment 2018 (chart)

1 Issued in February 2018; excluding Monsanto
2 Issued in September 2018; including Monsanto from June 7, 2018 (closing date of the acquisition)
3 Currency- and portfolio-adjusted

Economic Position of the Bayer Group

We registered growth in our operational business in 2018. Sales increased by 4.5% on a currency- and portfolio-adjusted basis (Fx & portfolio adj.). EBITDA before special items rose by 2.8%, despite negative currency effects. Pharmaceuticals once again posted sales gains (Fx & portfolio adj.), thanks mainly to the strong overall development of our key growth products Xarelto™, Eylea™, Xofigo™, Stivarga™ and Adempas™, while reported earnings were down. In a challenging business year, sales of Consumer Health were level with the prior year (Fx & portfolio adj.), while earnings declined. Crop Science posted an increase in sales (Fx & portfolio adj.), while earnings rose significantly, mainly due to the contribution from the newly acquired business. At Animal Health, the operational business was level with the prior year. Earnings per share of the Bayer Group reflected a one-time gain of €4.1 billion (before taxes) from divestments, along with impairment losses of €2.8 billion, acquisition costs of €1.9 billion, and restructuring costs in the amount of €1.3 billion. Core earnings per share of the Bayer Group amounted to €5.94 (−10.5%). We met our full-year outlook for Group sales and EBITDA before special items, as adjusted in September 2018. Core earnings per share came in slightly above our expectations.

Compare to Last Year