Bayer (BAYN) AGM 2026 summary

Opening remarks and agenda

• The meeting was opened virtually, with over 75% shareholder approval for the format, emphasizing accessibility, sustainability, and cost efficiency.

• New interactive features were introduced for shareholders, including real-time reactions and direct communication via the portal.

• The agenda and all supporting documents were published in advance, and the meeting was duly convened according to legal requirements.

Financial performance review

• Sales reached EUR 45.6 billion, core EPS was 4.91, and free cash flow was EUR 2.1 billion for 2025.

• Net financial debt was reduced to EUR 29.8 billion, though it is expected to rise in 2026 due to litigation expenses.

• Pharma saw strong growth from new products, offsetting declines from patent expiries; Crop Science began a five-year improvement plan; Consumer Health protected margins despite top-line challenges.

• The outlook for 2026 anticipates stable core EPS, continued investment in innovation, and negative free cash flow due to litigation payouts.

Board and executive committee updates

• Judith Hartmann joined the Board of Management in March 2026 and will become CFO in June 2026.

• Contracts for CEO Bill Anderson and Pharma head Stefan Oelrich were extended; Heike Prinz’s contract was also renewed.

• Two new Supervisory Board members, Marcel Smits and Alfred Stern, were elected, while three long-serving members stepped down.