Sales and Earnings Performance: Bayer reported flat sales growth across the group in H1 2025, with a core EPS of EUR 3.72. Free Cash Flow stood at minus EUR 1.4 billion, indicating challenges in cash generation, though the company is on track to meet its initial outlook for 2025.

Pharmaceuticals Growth Outlook: The company is raising its currency-adjusted sales and earnings guidance due to a strong performance in its Pharmaceuticals segment, driven by growth from launch assets like Nubeqa and Kerendia, which alone experienced a 65% increase year-over-year. Expectations are set for continued growth in these products, further supported by recent approvals for additional indications.

Crop Science Division Challenges: In the Crop Science division, sales remained challenged due to regulatory impacts such as the loss of dicamba and Movento registration, with expectations of a full-year margin impact of 200-300 basis points. Despite this, there are signs of recovery in Corn sales due to pricing and acreage expansion, though concerns remain about potential market headwinds.