Bayer sees FY23 core EPS EUR 7.20-EUR 7.40, sales EUR 51B-EUR 52B

"Following two consecutive years of high single-digit percentage growth rates, we expect our business to remain at a high level and grow by two to three percent in 2023 on a currency- and portfolio-adjusted basis," said Baumann. The company anticipates lower prices for agricultural herbicides as well as for some of its established pharmaceutical products. Projected sales growth in the other parts of the portfolio and from new products are expected to have a positive impact. As regards earnings in 2023, growth-driven margin contributions and positive effects from ongoing efficiency programs will not be sufficient to offset the anticipated decline in prices as well as high inflation-driven cost increases, which are expected to continue. On a currency-adjusted basis, Bayer expects to generate sales of 51 billion to 52 billion euros in 2023. The company anticipates EBITDA before special items of 12.5 billion to 13.0 billion on a currency-adjusted basis. It forecasts core earnings per share of 7.20 to 7.40 euros and free cash flow of approximately 3.0 billion euros. Net financial debt as of year-end 2023 is expected to amount to 32 billion to 33 billion euros.