Bayer posts sales growth in Q1

Bayer saw its sales in the first quarter rise by 2.8 percent on a currency- and portfolio-adjusted basis to 12.33 billion euros, and its net income rise by 40.3 percent to 2.09 billion euros, according to Bayer's quarterly statement for the first quarter of 2021 published on Wednesday.

Bayer lifted sales in its agricultural business (Crop Science) by 6.4 percent to 6.65 billion euros, with particularly strong growth in the Latin America and Asia/Pacific regions. Sales at Herbicides advanced by a significant 13.3 percent, business improved substantially at Fungicides (plus 22.0 percent) and at Vegetable Seeds (plus 13.9 percent). Sales at Vegetable Seeds rose in all regions. The 3.4 percent increase in sales at Soybean Seed & Traits was driven by volume gains in North America.

Sales of prescription-only medicines (Pharmaceuticals) came in at 4.37 billion euros and were thus level with the prior-year period on a currency- and portfolio-adjusted basis.

Consumer Health performance was ahead of competition following an exceptionally strong prior-year quarter. The performance also remained ahead of competition with growth momentum in the Dermatology and Nutritionals categories, with business up by 6.6 percent and 4.7 percent, respectively.

However, the continuing high level of protective and hygiene measures and the ongoing lockdowns had a negative impact on sales, particularly on cough and cold products. While sales in Asia/Pacific and Latin America showed continued positive growth, sales in North America and Europe/Middle East/Africa were markedly affected by the extraordinarily mild cough and cold season.