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Bayer AG has announced that the company confirms its adjusted outlook for 2020 and expects 2021 sales at approximately 2020 levels despite significant headwinds from the COVID-19 pandemic, especially in the agricultural market. Core earnings per share in 2021 are expected to be slightly below 2020 levels at constant exchange rates. To further advance Bayer in a market environment that continues to be challenging, its Board of Management has decided to introduce additional operational savings of more than 1.5 billion euros annually as of 2024, on top of annual earnings contributions of 2.6 billion euros as of 2022, which were announced in November 2018. The incremental cash flow from these efforts will mainly be allocated for investments in further innovation, profitable growth opportunities and debt reduction.