Agriculture and pharmaceuticals company Bayer reported a 27.5% increase in quarterly adjusted profit, thanks to strong growth in its seeds and pesticides business.
First-quarter EBITDA was $5.55 billion, well above analysts' average forecast of $4.4 billion posted on the company's Web site.
Prices of agricultural commodities, such as corn and soybeans, rose globally amid conflict between major grain exporters Ukraine and Russia.
The group reiterated its forecasts for full-year results.
