BayWa reports higher turnover but lower EBIT

BayWa closes its books over the first nine months of the year with a turnover of 12.2 billion euro (2017: 12 billion euro). The EBIT shows a slight decrease to 28.3 million euro. Both developments were in line with earlier expectations. The fruit trade is only a small part of the results.

For the first nine months of the year, the results of the Agriculture department were heavily influenced by two developments. The dry weather was negative for the production throughout Europe, figures were disappointing for grain in particular (an important product group within this category). Besides, logistic costs increased.

The fruit trade shows a positive development, but it was insufficient to balance the consequences of the extremely bad German apple year, 2017. Because of this, the company struggled with shortages in top fruit. Baywa expects a recovery in the fruit trade in the months until the end of the year as a result of the holidays and the market for tropical fruit, asparagus and grapes from T&G Global Limited.

For the fourth quarter, the German company expects a leap in turnover due to the sales of solar panels and wind turbines. Because of this, the company holds on to the earlier expectations over the entire fiscal year.

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