16089818 2025-01-01 2025-12-31 16089818 2025-01-01 2025-12-31 auditor_1 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_1 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_1 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_2 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_3 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_4 16089818 2025-01-01 2025-12-31 memberOfBoardIdentifier_5 16089818 2024-01-01 2024-12-31 16089818 2023-01-01 2023-12-31 16089818 2022-01-01 2022-12-31 16089818 2021-01-01 2021-12-31 16089818 2025-12-31 16089818 2024-12-31 16089818 2023-12-31 16089818 2022-12-31 16089818 2021-12-31 16089818 2024-12-31 fsa:ContributedCapitalMember 16089818 2024-12-31 fsa:RetainedEarningsMember 16089818 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 16089818 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 16089818 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 16089818 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 16089818 2025-12-31 fsa:ContributedCapitalMember 16089818 2025-12-31 fsa:RetainedEarningsMember 16089818 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 16089818 2024-12-31 fsa:AcquiredIntangibleAssetsMember 16089818 2024-12-31 fsa:GoodwillMember 16089818 2025-01-01 2025-12-31 fsa:AcquiredIntangibleAssetsMember 16089818 2025-01-01 2025-12-31 fsa:GoodwillMember 16089818 2025-12-31 fsa:AcquiredIntangibleAssetsMember 16089818 2025-12-31 fsa:GoodwillMember 16089818 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16089818 2025-01-01 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16089818 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16089818 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember fsa:LeasedAssetsMember 16089818 2024-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 16089818 2025-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 16089818 2025-12-31 fsa:LongtermLeaseCommitmentsMember 16089818 2024-12-31 fsa:LongtermLeaseCommitmentsMember 16089818 2025-12-31 fsa:OtherPayablesIncludingTaxPayablesLiabilitiesOtherThanProvisionsLongtermMember 16089818 2024-12-31 fsa:OtherPayablesIncludingTaxPayablesLiabilitiesOtherThanProvisionsLongtermMember iso4217:DKK pure 2024-01-01 2024-12-31 2026-05-20 16089818 2026-05-20 Reporting class C, large enterprise Deloitte 2300 København S Weidekampsgade 6 33963556 Auditor's report on audited financial statements Deloitte 33963556 true Annual report Erik Helstad The Board of Directors and the Executive Board have today discussed and approved the annual report for BAYER A/S for the financial year 1 January - 31 December 2025. The annual report has been prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025. Further, in our opinion, the Management's review gives a fair review of the development in the Company's activities and financial matters, of the results for the year and of the Company's financial position. We recommend that the annual report be approved at the annual general meeting. Copenhagen 2026-05-19 Jaume Arau Canal CEO Erik Helstad Chairman Gordana Bebek Jaume Arau Canal Nicolai Vesthammer Staff Representative Susanne Ingeborg Visler Staff Representative Independent auditor's report To the shareholder of BAYER A/S Opinion We have audited the financial statements of BAYER A/S for the financial year 1 January - 31 December 2025, comprising income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's financial position at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report.We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management's responsibility for the financial statementsManagement is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control that Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements in Denmark will always detect a material misstatement when it exists. Misstatements may arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of financial statement users made on the basis of these financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the company financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Statement on the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the Management's review provides the information required by relevant law and regulations Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the Management's review. Copenhagen 2026-05-19 Deloitte 33963556 Flemming Larsen State Authorised Public Accountant mne27790 BAYER A/S Arne Jacobsens Allé 13 DK-2300 København S 45 23 50 00 www.bayer.dk 16089818 1952-12-18 Copenhagen 2025-01-01 2025-12-31 Deloitte Statsautoriseret Revisionspartnerselskab Weidekampsgade 6 2300 København S 33963556 1348693000 1086656000 1284564000 1507583000 1331968000 127870000 118117000 150175000 179853000 153312000 31765000 21963000 52965000 66183000 53698000 5116000 4703000 3209000 1640000 893000 28420000 20330000 43399000 51750000 43135000 547807000 382555000 508989000 578876000 640587000 2841000 878000 2706000 20849000 6476000 267339000 238919000 318589000 288790000 237040000 950 1090 1170 1190 1150 240 200 410 440 400 1120 730 1430 1970 2000 4880 6250 6260 4990 3700 66000 75000 84000 90000 98000 The financial ratios have been calculated as follows:Gross marginGross profit/loss x 100 / RevenueOperating marginProfit/loss before financial income and expenses x 100 / RevenueReturn on equityProfit/loss after tax x 100 / Average equitySolvency ratioEquity at year end x 100 / Total equity and liabilities at year end 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). Significant changes in the Company's activities and financial position During 2025 the Bayer Group as well as Bayer A/S has focused on strengthening performance development, including the introduction of a new operating model (Dynamic Shared Ownership, DSO) with changed ways of working and resource prioritization throughout the organization. DSO is an operating model where decision-making and accountability are pushed from traditional hierarchies to empowered, cross-functional teams focused on creating value for customers and stakeholders. In line with the introduction of the new operating model, the company has implemented adjustments to the size (-14%) and organizational structure of its various units. The restructuring programs, which began already in end of 2024, were expanded during 2025 and will continue until 2026. Accrued expenses for agreed severance packages have been reserved. Uncertainty regarding recognition and measurement Recognition and measurement in the Annual Report have not been subject to any significant uncertainty. Unusual circumstances The financial position of the Company on 31 December 2025 and the results of the activities of the Company for the financial year for 2025 have not been affected by any unusual events. Development in activities and financial position Profit for the year (including comparison with outlook previously announced) Revenue for the year is distributed with 63.8% to the Agricultural Sector (Crop Science), 34.1% to Pharmaceuticals and 1.9% to Consumer Health. The remaining 0.2% is allocated to IT services. The turnover increased with 24.1% and the result from ordinary activities (EBIT) increased with 44.6%. The result after taxes increased with MDKK 8 (39,79%). Crop Science shows revenue of MDKK 860 compared to MDKK 635 in the previous year. The increase in revenue (+35.4%) is higher than what was expected in previous year Outlook (+9.3%), mainly for two reasons. Financial year 2024 was heavily affected by customer carryover stocks from draught season in 2023, and 2025 had a good season. The product Propulse will be withdrawn from Danish market in 2026, with sales stopping in December 2025 which has led to an unexpected high increase in sales in 2025. Pharmaceuticals show revenue of MDKK 460 compared to MDKK 429 in the previouis year. The revenue has increased (+7.3%) contradictory to the expected decrease (-8,2%) in previous year Outlook. There are three main factors for the deviation. 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 has increased in 2025 mainly due to the launch of Eylea 8mg. Also the launch of product Beyonttra has contributed more than expected to the increased revenue of the year. Consumer Health shows revenue of MDKK 26 compared to MDKK 20 in the previous year (30%). The Management concludes that the events having negative impact on revenue has been mitigated, and the financials of 2025 are meeting the expectations of the Management. Capital resources Bayer A/S is well consolidated. The equity ratio (solvency) amounts to 48.8 % (2024: 62.5 %), corresponding to equity at 31 December 2025 of MDKK 267 (2024: MDKK 239). Outlook Bayer A/S expects the main financial indicators to decrease in turnover for 2026 compared to 2025. The Crop Science and Consumer Health division is expected a decrease in turnover for 2025, with 30,2 % and 1,9 % respectively compared to 2025 and the pharmaceutical division is expected a decrease in turnover with 10 % compared to 2025. Expected EBIT in 2026 is MDKK 33. Research and development activities The Bayer AG Group conducts research and development across all its business segments. However, Bayer A/S does not conduct its own research and development but provides certain services to other group companies. Therefore, the company receives compensation for incurred costs related to services performed for the Bayer AG Group's research and development projects. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2025. Bayer A/S had a change of owner from Bayer Nordic SE (Finland) to Bayer Global Investments BV (Netherlands) as of March 20, 2026. Statement on corporate social responsibility The Company is covered by Bayer Group’s policy for social responsibility. Reference is made to the Group Annual Report: https://www.bayer.com/en/sustainability/sustainability-reports Bayer AG is a member of the UN Global Compact and the Participants & Stakeholders Report is available at: http://www.unglobalcompact.org/participant/1212BayerAG. Statement on data ethics We use our data assets, infrastructure, and platforms to perform research regarding existing products and to create a range of new products, while incorporating our data principles in how we design, implement, and secure this data. Data has the potential to fuel the next century of innovation, but only if our data practices are held to the high standards, we all deserve. We’re committed to managing personal data safely and securely and in ways that are ethical, compliant and of benefit to individuals. Our Privacy by Design and Data by Design processes have been developed to ensure we embed privacy, security, and data controls in all our products and services, keeping a clear focus on protecting customers’ and individuals’ data. Our Data management and governance policy provides all employees with information to ensure that Bayer's data is protected; its viability and availability is maintained for long-term business development and innovation; it is of good quality; and that it is used in an ethical, safe, and responsible manner. Bayer regards data as an enterprise asset and therefore protects it from reputational and disintermediation risks. This policy is supported by guiding principles and binding Data Standards that, when applicable, provide additional requirements and controls. 1348693000 1086656000 1068559000 831719000 15000 244000 152279000 137064000 127870000 118117000 88449000 89183000 7656000 6971000 31765000 21963000 11019000 9252000 5903000 4549000 36881000 26666000 8461000 6336000 28420000 20330000 5838000 5261000 1165000 1681000 7003000 6942000 6425000 9787000 106000 106000 13534000 16835000 202756000 177477000 146801000 32062000 168544000 133812000 521000 1247000 13028000 19996000 2623000 1126000 331517000 188243000 534273000 365720000 547807000 382555000 78000000 78000000 39339000 160919000 150000000 0 267339000 238919000 302000 581000 302000 581000 1234000 2804000 2608000 2446000 3842000 5250000 32865000 20450000 131528000 42393000 3100000 3430000 108831000 71532000 276324000 137805000 280166000 143055000 547807000 382555000 78000000 160919000 0 0 -121580000 150000000 78000000 39339000 150000000 The annual report of BAYER A/S for 2025 has been prepared in accordance with the provisions applying to reporting class C large entities under the Danish Financial Statements Act.The accounting policies used in the preparation of the financial statements are consistent with those of last year.The financial statement for 2025 are presented in DKK'000. Omission of cash flow statementPursuant to section 86(4) of the Danish Financial Statements Act, no cash flow statement has been prepared. The Company's cash flows are included in the cash flow statement in the consolidated financial statements of Bayer AG. Omission of disclosure of fees to auditor appointed at the general meetingFee to auditors appointed at the general meeting has not been disclosed in accordance with section 96(3) of the Danish Financial Statements Act. Reference is made to the consolidated Financial Statements of Bayer AG. Recognition and measurement Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period. Recognition and measurement take into account predictable losses and risks occurring before the presentation of the annual report which confirm or invalidate affairs and conditions existing at the balance sheet date. Foreign currency translation Danish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Revenue Revenue from the sale of goods for resale and finished goods is recognised in the income statement when control of the goods has transferred to the buyer, normally at delivery. Revenue is measured at the fair value of the expected consideration and is recognised excluding VAT and net of discounts relating to sales. Information on business segments and geographical segments are based on the Company's risks and returns and its internal financial reporting system. Business segments are regarded as the primary segments. Cost of sales Costs of sales comprise the materials and consumables consumed to achieve revenue for the year. Other operating income Other operating income comprises items secondary to the activities of the Company. Other external costs Other external costs comprise costs of distribution, sales and advertising, administrative expenses, costs of premises, bad debts, operating leases, etc. Staff costs Staff costs comprise wages and salaries, including holiday allowance, pension and other social security costs, etc., to the Company's employees. Financial income and expenses Financial income and expenses comprise interest income and expense, financial costs regarding finance leases, gains and losses on securities, payables and transactions denominated in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, etc. Tax on profit for the year Tax for the year comprises current corporation tax for the year and changes in deferred tax, including changes in tax rates. The tax expense relating to the profit for the year is recognised in the income statement, and the tax expense relating to amounts directly recognised in equity is recognised directly in equity. Intangible assets Patents, licences and trademarks Patents and licences are measured at cost less accumulated amortisation and impairment losses. Patents are amortised over the remaining life of the patent, and licences are amortised over the contract period, however, not exceeding 3-15 years. In both cases the residual value is set to zero. Goodwill Goodwill acquired is measured at cost less accumulated amortization. Goodwill is amortized on a straight line basis over its useful life, which is assessed at 7 years. Software Software is measured at cost less accumulated amortisation and impairment losses. The estimated useful lives for software are 3-4 years. Property, plant and equipmentFixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date on which the asset is available for use.The basis of depreciation is cost less any projected residual value after the end of the useful life. Depreciation is provided on a straight-line basis over the estimated useful life. The estimated useful lives are as follows:Fixtures and fittings, tools and equipment3-10 yearsThe useful life and residual value are reassessed annually. Changes are treated as accounting estimates, and the effect on depreciation is recognised prospectively. In both cases the residual value is set to zero. Gains and losses on the disposal of property, plant and equipment are stated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement net, as either operating income or other operating costs. Leases For contracts which are, or contain, a lease, Bayer A/S recognises a right-of-use asset and a lease liability. The right-of-use asset is initially measured at cost, being the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date. The right-of-use asset is subsequently depreciated using the straight-line method over the lease term. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The right-of-use asset is presented in property, plant and equipment and the lease liabilities in noncurrent liabilities or current liabilities. Financial assets Deposits are recognised at amortised cost. Impairment of fixed assets The carrying amount of intangible assets and property, plant and equipmen is subject to an annual test for indications of impairment other than the decrease in value reflected by depreciation or amortisation. Impairment tests are conducted of individual assets or groups of assets when there is an indication that they may be impaired. Write-down is made to the recoverable amount if this is lower than the carrying amount. The recoverable amount is the higher of an asset's net selling price and its value in use. The value in use is determined as the present value of the forecast net cash flows from the use of the asset or the group of assets, including forecast net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Inventories Inventories are measured at cost in accordance with the moving weighted average. Where the net realisable value is lower than cost, inventories are written down to this lower value. The net realisable value of inventories is calculated as the sales amount less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and development in expected selling price. ReceivablesReceivables are measured at amortised cost.Write-down is made for bad debt losses where there is an objective indication that a receivable has been impaired. If there is an objective indication that an individual receivable has been impaired, write-down is made on an individual basis.Write-downs are calculated as the difference between the carrying amount of receivables and the present value of forecast cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities based on the planned use of the asset or settlement of the liability. However, deferred tax is not recognised on temporary differences relating to goodwill non-deductible for tax purposes and on office premises and other items where the temporary differences arise at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement or equity, respectively. Prepayments Prepayments comprise prepayment of costs incurred concerning rent, insurance premiums, subscriptions, membership contributions, accrued reimbursement of Virtual Cross Border Work and interest relating to subsequent financial years. EquityDividends The expected dividend payment for the year is disclosed as a separate item under equity. Liabilities other than provisionsFinancial liabilities are recognised at cost at the date of borrowing, corresponding to the proceeds received less transaction costs paid. In subsequent periods, the financial liabilities are measured at amortised cost using the effective interest method. Accordingly, the difference between cost and the nominal value is recognised in the income statement over the term of the loan together with interest expenses.Finance lease obligation comprise the capitalised residual lease obligation of finance leases.Other liabilities are measured at amortised cost. Activities - primary segment DKK'000 Crop Science Health Care Consumer Health Other Total2025 Revenue 859,839 460,061 25,819 2,974 1,348,6932024 Revenue 634,628 428,715 20,497 2,816 1,086,656 Geographical - secondary segment DKK'000 Denmark Sweden Norway Finland Other Total2025 Revenue 920,000 182,574 72,034 96,114 77,971 1,348,6932024 Revenue 665,023 186,918 68,488 72,173 94,054 1,086,656 80287000 81513000 6515000 7035000 1647000 635000 66 75 In accordance with section 98b(3) of the Danish Financial Statements Act, remuneration of the Executive Board and the Board of Directors is not presented in the financial statements. 1569000 810000 6087000 6161000 -3446000 -3320000 -7522000 -5925000 -51000 -7000 5643000 3987000 260000 562000 8641000 6333000 -279000 -78000 99000 81000 150000000 0 -121580000 20330000 17822000 3623000 1664000 0 -1644000 0 17842000 3623000 -12561000 -1942000 -1053000 -516000 1610000 0 -12004000 -2458000 5838000 1165000 32070000 2841000 -5206000 29705000 -22283000 -6087000 5090000 -23280000 6425000 4468000 106000 106000 106000 Goods for resale: DKK 212,626 thousand (2024: DKK 204,377 thousand) Goods for resale, write-down: DKK 9,870 thousand (2024: DKK 26,900 thousand) Goods for resale, net-value: DKK 202,756 thousand (2024: DKK 177,477 thousand) Prepayments comprise prepayment of costs incurred concerning rent, insurance premiums, subscriptions, membership contributions, accrued reimbursement of Virtual Cross Border Work and interest relating to subsequent financial years. The contributed capital consists of 78,000 shares of a nominal value of DKK 1,000 thousand each. All shares rank equally. 581000 659000 -279000 -78000 Intangible assets 709 838 Property, plant and equipment 9 159 Liabilities other than provisions -416 -416 Deferred tax has been provided at 22% corresponding to the current tax rate. 3100000 3430000 1234000 2804000 108831000 71532000 2608000 2446000 3842000 5250000 111931000 74962000 A bank guarantee of DKK 1.062 thousand has been established to cover obligations in connection to leased offices, and a bank guarantee of DKK 1.000 thousand towards Sø- og Handelsretten has been established relating to an ongoing legal matter for infringement of copyright of Bayer products. Bayer AG, Kaiser-Wilhelm-Allee 3, 51373 Leverkusen, Germany - Controlling shareholder, ultimate parent Bayer Nordic SE, Tuulikuja 2, 02100 Espoo, Finland - Intermediate Controlling shareholder Bayer Global Investments B.V, Energiweg 1, Mijdrecht 3641RT, Netherlands - Intermediate Controlling shareholder BAYER A/S is part of the consolidated financial statements of Bayer Nordic SE, Tuulikuja 2, 02100 Espoo, Finland, and the consolidated financial statements of Bayer AG, Kaiser-Wilhelm-Allee 3, 51373 Leverkusen, Germany, which are the smallest and largest groups, respectively, in which the Company is included as a subsidiary. The consolidated financial statements of Bayer Nordic SE and the consolidated financial statements of Bayer AG can be obtained by contacting the companies at the above addresses. Related party transactions DKK'0002025 Revenue 64,555 Purchase of finished goods 960,788 Other external costs 67,795 Other financial income 3,446 Receivables from group entities 168,544 Payables to group entities 131,528