Bayer Ag S/Adr (BAYRY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and good morning, everybody. Welcome to our conference call to review Q4 and full year 2025 and to look into 2026. To begin, Bill will share his perspective on our business development, the progress we've made in our transformation and the path ahead of us. Wolfgang will then provide an overview of our financials in 2025 and the outlook for 2026. We will then hear from our divisional presidents on the performance of their businesses and plans going forward to execute their strategies. And then we move to the Q&A. Before we begin, please note the cautionary language in our safe harbor statement. Let me also remind you that we'll speak about our sales growth in currency and portfolio adjusted terms throughout today's presentation, if not stated differently. And with that, over to you, Bill. Thanks, Joost. Thanks all of you for joining today's call. We're really happy to go through our 2025 results and to provide an outlook for 26. Before doing that, I do want to share a short update on company leadership. As we announced in November, Judith Hartman has joined the company and the Board of Management as of March 1st. So she's going to spend the coming weeks getting to know the company, its customers, our people, our products, before taking over as CFO in June. So she's looking forward to meeting you. I know some of you know her already, picking up from Wolfgang, who's definitely locked in on steering the company through an important next three months. So let's get into 2025. In July, we upgraded our currency-adjusted sales and earnings guidance for the year. And today, we're announcing that we delivered that guidance, landing comfortably within the improved corridor. Sales came in at 45.5 billion, and we posted core earnings per share of 4 euros and 91 cen...