DGAP-News
BayWa AG: First half of 2016: BayWa raises EBIT
DGAP-News: BayWa AG / Key word(s): Half Year Results
BayWa AG: First half of 2016: BayWa raises EBIT
04.08.2016 / 10:30
The issuer is solely responsible for the content of this announcement.
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BayWa AG: First half of 2016: BayWa raises EBIT
04.08.2016 / 10:30
The issuer is solely responsible for the content of this announcement.
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First half of 2016: BayWa raises EBIT
year on year
BayWa AG, Munich, Germany, finished the first half of 2016 with significant
earnings improvement. Earnings before interest and taxes (EBIT) rose by
EUR8.6 million to EUR55.3 million (H1/2015: EUR46.7 million)*, equating to
an increase of 18.4%. Revenues increased slightly to EUR7.5 billion
(H1/2015: EUR7.4 billion) in the first half of the year. Thanks to a
positive starting position, especially for the business with renewable
energies and fruit, as well as an expected recovery in international
agricultural trade activities, BayWa AG sees good opportunities to further
expand the EBIT year-on-year over the course of the current financial year.
"Our internationalisation and diversification in our core areas of business
once again guaranteed BayWa's positive earnings development," Klaus Josef
Lutz, Chief Executive Officer of BayWa AG, explained. International fruit
trading and, in particular, the business with renewable energies more than
compensated for the effects of a difficult agricultural market environment,
thereby driving the significant improvement in EBIT, Lutz said. "The
traditional business units conventional energy and building materials also
managed to take advantage of the favourable market conditions in their core
markets and make a positive earnings contribution," Lutz continued. A good
basis is in place to finish the year up on 2015. This opinion is founded
primarily on the positive prospects for renewable energies and fruit. BayWa
also expects an increase in the international agricultural trading business
in the third and fourth quarters, he added.
Fruit business bolsters Agriculture - catch-up effects expected in the
second half of the year
The Agriculture Segment comprises trading in agricultural operating
resources and produce as well as the Agricultural Equipment, Fruit and
Digital Farming business units. Despite a challenging market environment
with low producer prices and a corresponding reluctance among farmers to
buy operating resources and, as expected, agricultural equipment in
particular, the segment fared well, especially in the second quarter. This
was due first and foremost to T&G Global's successful fruit business in New
Zealand and the newly acquired Dutch supplier of tropical fruits TFC
year on year
BayWa AG, Munich, Germany, finished the first half of 2016 with significant
earnings improvement. Earnings before interest and taxes (EBIT) rose by
EUR8.6 million to EUR55.3 million (H1/2015: EUR46.7 million)*, equating to
an increase of 18.4%. Revenues increased slightly to EUR7.5 billion
(H1/2015: EUR7.4 billion) in the first half of the year. Thanks to a
positive starting position, especially for the business with renewable
energies and fruit, as well as an expected recovery in international
agricultural trade activities, BayWa AG sees good opportunities to further
expand the EBIT year-on-year over the course of the current financial year.
"Our internationalisation and diversification in our core areas of business
once again guaranteed BayWa's positive earnings development," Klaus Josef
Lutz, Chief Executive Officer of BayWa AG, explained. International fruit
trading and, in particular, the business with renewable energies more than
compensated for the effects of a difficult agricultural market environment,
thereby driving the significant improvement in EBIT, Lutz said. "The
traditional business units conventional energy and building materials also
managed to take advantage of the favourable market conditions in their core
markets and make a positive earnings contribution," Lutz continued. A good
basis is in place to finish the year up on 2015. This opinion is founded
primarily on the positive prospects for renewable energies and fruit. BayWa
also expects an increase in the international agricultural trading business
in the third and fourth quarters, he added.
Fruit business bolsters Agriculture - catch-up effects expected in the
second half of the year
The Agriculture Segment comprises trading in agricultural operating
resources and produce as well as the Agricultural Equipment, Fruit and
Digital Farming business units. Despite a challenging market environment
with low producer prices and a corresponding reluctance among farmers to
buy operating resources and, as expected, agricultural equipment in
particular, the segment fared well, especially in the second quarter. This
was due first and foremost to T&G Global's successful fruit business in New
Zealand and the newly acquired Dutch supplier of tropical fruits TFC
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