Net Financial Debt

Bayer publishes its amount of net financial debt on a regular basis. This shows the Group’s net financing requirements and is calculated from gross financial obligations less liquid assets and receivables from financial derivatives:

Net Financial Debt1June 30, 2018Sep. 30, 2018
€ million€ million
Bonds and notes / promissory notes35,49535,595
 of which hybrid bonds24,5354,536
Liabilities to banks14,4417,040
Liabilities under finance leases389391
Liabilities from derivatives3201208
Other financial liabilities1,603616
Receivables from derivatives3(355)(195)
Financial debt51,77443,655
Cash and cash equivalents(4,981)(4,850)
Current financial assets4(1,042)(1,318)
Noncurrent financial assets5(1,054)(936)
Net financial debt (including hybrid bonds)44,69736,524

1 For definition see Annual Report 2017, Chapter “Alternative Performance Measures Used by the Bayer Group.”
2 Classified as debt according to IFRS
3 These include the market values of interest-rate and currency hedges of recorded transactions.
4 These include short-term loans and receivables with maturities between 3 and 12 months outstanding from banks and other companies as well as financial investments in debt and equity instruments that were recorded as current on first-time recognition.
5 These solely comprise the remaining interest in Covestro that is to be used to repay the convertible bond issued in 2017 that will mature in 2020.

 

Long-term Development of Net Financial Debt

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December 5, 2018

Capital Markets Day, London

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