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Bayer factory in Leverkusen: “Stay open to everything”

Photo: Thomas Banneyer / dpa

Bayer slipped deep into the loss zone in 2023.

As sales fell, there was a loss of 2.9 billion euros, as the pharmaceutical and agricultural group announced.

In the previous year, Leverkusen had made a profit of 4.15 billion euros.

Group sales fell by 1.2 percent to 47.6 billion euros in 2023, adjusted for currency and portfolio effects.

Operating income (Ebitda) before special items fell by 13.4 percent to 11.7 billion euros.

As already announced, the shareholders will have to accept severe cuts in the dividend and will receive 0.11 (previous year: 2.40) euros per share.

Organizational costs in Germany should be saved

The background to the poor annual result is value adjustments in the agricultural division.

However, a division sale is currently not under discussion, it was said when the annual figures were presented.

Nevertheless, “we will remain open to everything,” said Bayer boss Bill Anderson.

Given the very limited scope for action, business development should first be improved and more strategic flexibility created.

As part of the new organizational model that has already been presented, two billion euros in organizational costs are to be saved annually from 2026.

Bayer had already announced in January that there would likely be a significant reduction in personnel in Germany as part of the planned streamlining of administration and the desired acceleration of decision-making processes.

In view of the legal disputes in the USA, Bayer wants to pursue “new approaches inside and outside the courtrooms”.

This also includes more intensive cooperation with other actors in the field of politics.

The background is a wave of lawsuits because of the alleged carcinogenic effects of glyphosate.

Bayer has always rejected the allegations against the herbicide.

For 2024, Bayer expects sales of 47 billion to 49 billion euros and an Ebitda of 10.7 billion to 11.3 billion euros.

apr/Reuters/dpa-AFX