MUNICH (dpa-AFX) – The Munich-based agricultural trader and conglomerate BayWa has confirmed its recently increased annual forecast.
As is known, an annual profit of 475 to 525 million euros before interest and taxes (EBIT) is now expected. One earnings driver is the business with renewable energy, the company announced on Thursday in Munich. Baywa had already raised its EBIT target at the end of October.
“In a turbulent market environment, security of supply has top priority for our customers – the demand for thermal energy sources such as heating oil and wood pellets, for operating resources and technology in agriculture, but also for building materials, for example for building renovation, is correspondingly high,” said CEO Klaus Josef Lutz: Thanks to a broad network of suppliers, Baywa is able to deliver almost without restrictions.
In the first nine months, the company increased sales by almost half compared to the same period last year to 20.1 billion euros. The operating profit (EBIT) rose from 192 to 460 million euros.
The group benefited both from the expansion of renewable energies and the increasing demand for green electricity systems as well as from the high demand for heating oil, wood pellets and fuel. The weather and the scarce supply of grain “keep the agricultural markets in motion. BayWa took advantage of the corresponding trading opportunities and was able to further increase its profitability in agricultural product trading.” Farmers used high producer prices for investments, “which is reflected in increasing sales of agricultural machinery”. In the fruit and vegetable trade, on the other hand, the difficult economic conditions slowed the result. Sales and earnings increased in the construction sector.
Baywa is Germany’s largest agricultural trader. A second important pillar is renewable energies, the company projects and builds large solar parks, among other things./rol/DP/stk
Leverage must be between 2 and 20
No data