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Bayer Group Q1 Profit Rises, Sales Up 14.3%; Confirms FY Currency-adj. Outlook

The Bayer Group (BAYZF.PK,BAYRY.PK,BYR.L) said it achieved outstanding sales and earnings growth in its first quarter, with particularly substantial gains for agriculture business. The Group said its sales and earnings were not negatively impacted by Russia's invasion of Ukraine in the quarter. Looking forward, Bayer Group confirmed the currency-adjusted outlook for the full year published in March.

Werner Baumann, Chairman of the Board of Management, said: "Our forecast going forward this year remains confident despite the great uncertainties, including the stability of supply chains and energy supplies."

First quarter EBITDA before special items increased by 27.5 percent to 5.25 billion euros. Core earnings per share from continuing operations rose by 36.3 percent to 3.53 euros.

Net income rose by 57.5 percent to 3.29 billion euros. Earnings per share was 3.35 euros compared to 2.13 euros.

Group sales in the first quarter increased by 14.3 percent on a currency- and portfolio-adjusted basis to 14.64 billion euros.

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