Bayer A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

Principal activities The main activity of Bayer A/S is marketing and sale of products within the divisions Pharmaceuticals (PH), Consumer Health (CH) & Crop Science (CS).

Beskrivelse af usikkerhed ved indregning eller måling

Uncertainty regarding recognition and measurement Recognition and measurement in the Annual Report have not been subject to any significant uncertainty.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen

Unusual circumstances The financial position of the Company on 31 December 2024 and the results of the activities of the Company for the financial year for 2024 have not been affected by any unusual events.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Development in activities and financial position Profit for the year (including comparison with forecasts previously announced) Revenue for the year is distributed with 58.4% to the Agricultural Sector (Crop Science), 39.5% to Pharmaceuticals and 1.9% to Consumer Health. The remaining 0.2% is allocated to IT services. The turnover decreased with 15.4% and the result from ordinary activities (EBIT) decreased with 58.5%. The result after taxes decreased with MDKK 23 (-53.2%). Crop Science shows revenue of MDKK 635 compared to MDKK 789 in the previous year (-19.5%). The Crop Science division revenue declined mainly due to customer carryover stocks from draught season in 2023, dry spring weather and price reductions The market has stabilized in 2025 to a more normal level. Pharmaceuticals shows revenue of MDKK 429 compared to MDKK 469 in the previous year (-8.5%). The patent for one of the company's largest products, Xarelto, expires in 2026, but already in 2024, the company has been subjected to patent infringement concerning this product, and sales have been significantly impacted. Legal actions have been taken by the Bayer AG group to minimize the negative financial consequences of this. Sales of the company's largest product, Eylea, decreased in 2024 mainly due to lost market share and price reductions. The company is taking measures to recover sales in 2025. Consumer Health shows revenue of MDKK 20 compared to MDKK 24 in the previous year (-14.9%). The Management considers the 2024 revenue to be as expected in a market with increasing competition, and in line with the estimation at the end of the previous campaign. Capital resources Bayer A/S is well consolidated. The equity ratio (solvency) amounts to 62.5 % (2023: 62.6 %), corresponding to equity at 31 December 2024 of MDKK 239 (2023: MDKK 319). Foreign exchange risks It is the Company’s policy to hedge against commercial foreign exchange exposure. Hedging mainly takes place by means of balancing in- and outgoing cash flows. All Hedging is covered by Bayer AG Group and monitored on a daily basis. In the Crop Science business line, the company has a currency risk exposure as more than half of purchases of goods and sales take place in various foreign currencies (SEK, NOK and EUR). To reduce this risk, the company uses currency hedging of accounts receivable and accounts payable above a certain level. In the case of major special transactions in foreign currency, such as acquisitions or divestments of line of business or company, hedge accounting is used to reduce currency risks. Interest rate risks As the net interest-bearing debt does not constitute a significant amount, moderate changes in the level of interest will not have any material, direct effect on earnings. Therefore, the Company does not enter interest rate agreements to hedge against interest rate exposure.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2024.

Beskrivelse af virksomhedens forventede udvikling

Outlook Bayer A/S expects the main financial indicators to increase slightly in turnover for 2025 compared to 2024. The Crop Science and Consumer Health division is expected an increase in turnover for 2025, with 9.3% and 5.9% respectively compared to 2024 and the pharmaceutical division is expected a decrease in turnover with -8.2% compared to 2024. Expected EBIT in 2025 is MDKK 100.