Bayer(US:BAYRY)2022-08-04 16:34Q2 2022 Financial Performance - Sales increased by 18% to €12819 million[14], with a currency and portfolio adjusted (cpa) increase of 10%[14] - EBITDA before special items increased by 30% to €3349 million[14], with a foreign exchange tailwind of €300 million[14] - Core EPS from continuing operations increased by 20% to €193[14] - Free cash flow decreased by 1% to €1140 million[14] Crop Science Division - Sales increased by 29% to €6461 million[19], with a cpa increase of 17%[19] driven by price (+20%)[19] and currency (+12%)[19], offset by volume (-2%)[19] and portfolio (0%)[19] - EBITDA before special items increased by 72% to €1749 million[19] - Herbicides sales increased by 51% due to favorable market dynamics[21] - Corn S&T sales increased by 10% due to new hybrid launches[21] Pharmaceuticals Division - Sales increased by 7% to €4818 million[26], with a cpa increase of 2%[26] driven by volume (+2%)[26] and currency (+5%)[26], offset by price (0%)[26] and portfolio (0%)[26] - EBITDA before special items increased by 5% to €1478 million[26] - Eylea sales increased by 12% across all regions[26] - Xarelto sales decreased by 6% due to procurement changes in China and loss of exclusivity in Brazil[26] Consumer Health Division - Sales increased by 16% to €1496 million[28], with a cpa increase of 7%[28] driven by volume (+3%)[28], price (+4%)[28], currency (+9%)[28] and portfolio (+1%)[28] - EBITDA before special items increased by 19% to €330 million[28] - Allergy & Cold product sales increased by 17% due to higher cold incidences[28] FY 2022 Outlook - Sales growth for Crop Science is expected to be ~13% (cpa)[31], with an EBITDA margin of ~27%[31] - Sales growth for Consumer Health is expected to be 6%-7% (cpa)[31], with an EBITDA margin of 22%-23%[31] - Group sales are projected to be €47-48 billion[36], with an EBITDA margin of 26-27%[36] and core EPS of ~€730[36]