DGAP-News Substantial increase in the first quarter - BayWa continues excellent business performance
DGAP-News: BayWa AG / Key word(s): Quarterly / Interim Statement
Substantial increase in the first quarter - BayWa continues excellent business performance
With a substantial increase in the first quarter of 2021, BayWa AG seamlessly continued the successful business performance seen in the previous year and generated revenues of €4.3 billion (Q1/2020: €3.9 billion). At €45.1 million, earnings before interest and tax (EBIT) were up significantly year on year (Q1/2020: minus €27.8 million). All three operating segments contributed to this development. "A sensational start to the year," says BayWa Chief Executive Officer Prof. Klaus Josef Lutz. "Thanks to its diversified portfolio, BayWa is beating the coronavirus pandemic and the typical seasonal influences that we are usually subject to in the first quarter. I expect us to be able to match 2020's record figures as planned this year, even though it remains difficult to predict the further course of the coronavirus pandemic and its impact on the global economy."
In particular, the Renewable Energies business unit and the international agricultural trade activities of the Cefetra Group business unit (formerly: BayWa Agri Supply & Trade - BAST) saw an unusually strong start to the year. While BayWa r.e. renewable energy AG sold large-scale wind farms and solar parks in Japan and France, the Cefetra Group benefited from the continued rally of agricultural product prices. In the fruit business, above-average prices continued ensuring stable earnings. The indicators in agricultural trade in Germany are also positive, with the agricultural input business recovering from its price-related lean spell in the previous year. Furthermore, the trade in agricultural machinery continued setting records.
By contrast, sales of heating oil and fuels fell as expected, whereas the business involving wood pellets as sustainable energy carriers continued to post gains. The building materials trade benefited from a relatively mild winter and rising prices for building materials. As a result, the negative EBIT in the Building Materials Segment that is typical for the first quarter was significantly less marked than usual.