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German company, BayWa, reports increased turnover in first quarter

BayWa, based in Germany, reported strong growth at the closing of its books at the end of the first quarter. The EBIT came to EUR 8 million. That is an increase of EUR 20,4 million euro compared with the previous year. In 2016, the results were still in the red. Turnover also increased to EUR 3,8 billion, EUR 0.3 billion more than in 2016. Profits were recorded in all three sectors of the company: Agriculture, Energy and Building Materials.

The Agriculture sector is sub-divided into four categories, of which the trade in fruit and vegetables is one. There is no clear distinctions between these sectors in the quarterly numbers. The sector as a whole, reported an increase in turnover from EUR 2.6 billion in 2016 to EUR 2.7 billion this year. In addition to an increased trade in produce, including fruit, this result was thanks to investments from growers. EBIT came to EUR 11.2 miljoen, which is EUR 2 million higher than in 2016.

Click here to read the full press release.