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Bayer is a Life Science company with a more than 150-year history and core competencies in the areas of health care and agriculture. With our innovative products, we are contributing to finding solutions to some of the major challenges of our time. A growing and aging world population requires an adequate supply of food and improved medical care. Our research and development activities are therefore focused on improving people’s quality of life by preventing, alleviating and treating diseases. At the same time, we are making an important contribution to providing a reliable supply of high-quality food, feed and plant-based raw materials. Our understanding of the biochemical processes in living organisms helps us address these demanding challenges.
Our goal is to achieve and maintain leadership positions in our markets. In this way we create value for our customers, stockholders and employees, at the same time strengthening the company’s earning power. We are committed to operating sustainably and addressing our social and ethical responsibilities. We also respect the interests of all our stakeholders. Employees with a passion for innovation enjoy excellent development opportunities at Bayer.
All this goes to make up our mission – Bayer: Science for a Better Life.
Published on February 22, 2017 in the Annual Report 2016:
|€ million||€ million||in %|
|EBITDA before special items1||10,256||11,302||+10.2|
|EBITDA margin before special items1||22.3 %||24.2 %|
|EBIT before special items1||7,060||8,130||+15.2|
|Income before income taxes||5,236||5,887||+12.4|
|Net income (from continuing and discontinued operations)||4,110||4,531||+10.2|
|Earnings per share (from continuing and discontinued operations) (€)1||4.97||5.44||+9.5|
|Core earnings per share (from continuing operations) (€)1||6.82||7.32||+7.3|
|Net cash provided by operating activities (from continuing and discontinued operations)||6,890||9,089||+31.9|
|Net financial debt||17,449||11,778||-32.5|
|Capital expenditures as per segment table||2,511||2,578||+2.7|
|€ million||€ million||in %|
|Total dividend payment||2,067||2,233||+8.0|
|Dividend per share (€)||2.50||2.70||+8.0|
|Number of employees2 (Dec. 31)||116,600||115,200||-1.2|
|Personnel expenses (including pension expenses) (€ million)||11,176||11,357||+1.6|
|Proportion of women in senior management (%)||28||29|
|Proportion of employees with health insurance (%)||96||98|
|Fluctuation (voluntary / total) (%)||5.0 / 13.9||4.6 / 12.3|
|Hours of vocational and ongoing training per employee||20.0||22.1||+10.5|
2015 figures restated; figures for 2012–2014 as last reported
1 For definitions of the indicators see Chapter “Alternative Performance Measures Used by the Bayer Group.”
2 Employees calculated as full-time equivalents (FTEs)
2016 Key Data by Segment
Current Investor News
Not intended for U.S. and UK Media
Bayer Receives Approval for Stivarga® in Japan for Second-Line Treatment of Hepatocellular Carcinoma
Stivarga® (regorafenib) is the first and only systemic treatment to demonstrate significant improvement in overall survival in second-line hepatocellular carcinoma (HCC) patients and the first treatment advance in nearly a decade / Pivotal trial RESORCE defines a new treatment plan in hepatocellular carcinoma (HCC) with Stivarga directly after Nexavar® (sorafenib) more
Not intended for U.S. and UK Media
Bayer Receives Positive CHMP Opinion for regorafenib for the Second-Line Systemic Treatment of Liver Cancer
Positive opinion based on data from the Phase III RESORCE study, in which regorafenib demonstrated significant improvement in overall survival in hepatocellular carcinoma (HCC) patients previously treated with Nexavar® (sorafenib) / Approval could provide first treatment advance in nearly a decade / Final decision from the European Commission anticipated within the next two months more
The capital stock of Bayer AG, amounting to Euro 2,116,986,388.48, is divided into 826,947,808 no-par registered shares.The capital stock underlying the no-par value registered shares is evidenced by permanent global certificates deposited with Clearstream Banking AG, Frankfurt am Main, Germany. The Company’s shareholders have ownership in these certificates in proportion to their respective holdings.The current value of one share - the share price - is determined by the company's total value on the stock market (market capitalization) and the number of shares in circulation.
|Security Identification No.|
|Bloomberg||Xetra ®||BAYN GY|
|Frankfurter Wertpapierbörse||BAYN GF|
Bayer has a significant weighting in virtually all the major stock indices in line with its high market capitalization and share turnover.
Bayer stock is listed on all the German stock exchanges.
Information about the dividend for fiscal 2016
Conforming to the proposal of the Board of Management and the Supervisory Board, the Annual Stockholders’ Meeting on April 28, 2017 passed the resolution to pay a dividend for fiscal 2016 of EUR 2.70 per share. The resulting payout ratio of 37 percent calculated on core earnings per share (see Annual Report 2016, Chapter 2.2.1 of the Combined Management Report) is within our target corridor of 30 percent to 40 percent.
The dividend yield calculated on the share price of €99.13 at year end 2016 amounts to 2.7 percent and the total dividend payment to €2,233 million.
Stock ownership by region
Our ownership structure shows the international distribution of our capital stock. The highest proportion of our outstanding shares, almost 29 percent, is held by investors in the United States and Canada, followed by Germany with 22 percent. From a regional perspective, Bayer has a stable ownership structure that has altered only slightly in recent years.
Ownership Structure by Country
Bayer is currently rated as follows:
|Rating agency||Long-term rating||Short-term rating|
|S&P Global Ratings||A-||A-2|
Recently, the rating agencies took the following rating actions:
May 20, 2016: S&P Global Ratings placed 'A-/A-2' ratings for Bayer on CreditWatch with negative outlook.
June 22, 2017: S&P Global Ratings affirms ‘A-2’ short-term rating, removing its CreditWatch for it.
May 24, 2016: Moody’s placed Bayer’s A3/P-2 ratings under review for downgrade.
(published on April 27, 2017 in the Interim Report First Quarter 2017)
Sales and Earnings Forecast
For 2017, Covestro is now budgeting a substantial sales increase (previously: increase) and a significant improvement in EBITDA after adjustment for special items (previously: on or above the prior-year level).
This development leads to the following changes for the Bayer Group. Sales are now expected to increase to around €51 billion (previously: more than €49 billion). This now corresponds to a mid- to high-single-digit (previously: low- to mid-single-digit) percentage increase on a currency- and portfolio-adjusted basis. EBITDA before special items is now expected to improve by a low-teens percentage (previously: mid-single-digit percentage). We now aim to grow core earnings per share from continuing operations by a mid- to high-single-digit percentage (previously: mid-single-digit percentage). Here it must be noted that Bayer’s interest in Covestro amounts to only 53% as of March 2017 (previously: 64% for the full year). Excluding capital and portfolio measures, net financial debt is targeted to be around €8 billion at the end of 2017 (previously: around €10 billion).
Taking into account the potential opportunities and risks, at this point in time we are not adjusting the forecasts issued for our Life Science businesses in February 2017. For more information on our business outlook, please consult our Annual Report 2016, Chapter “Corporate Outlook”.
This forecast is based on the exchange rates as of March 31, 2017. There were no significant changes compared with December 31, 2016.
This fact sheet may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
|Bayer Investor Relations|
Head of Investor Relations
|Dr. Jürgen Beunink|
|Peter Dahlhoff |
|Prof. Dr. Olaf Weber |