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.
The Global Produce business unit achieved stable earnings on a par with the previous year, with the domestic pome fruit business benefiting from above-average apple prices. BayWa expects the apple harvest in New Zealand to fall short of the previous year’s level, therefore keeping prices high. One year after its destruction during a storm, the climate-controlled greenhouse in Al Ain will again make a contribution to earnings in 2021, with the first tomatoes having been harvested and marketed locally in early April.
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