International trading and services group BayWa has revealed that it concluded the 2018 financial year on target, generating a slight year-on-year increase in EBIT to €172.4m, up from €171.3m during the previous year.
According to the group, it allowed BayWa to compensate for the positive one-off effects in the previous year of approximately €20m through an improvement in operating earnings in its segments.
Revenue for the year also increased, by 3.6 per cent to €16.6bn from the 2017 figure of €16.1bn.
Baywa noted that, despite an extremely difficult year for the German agricultural industry, which once again suffered from the effects of long periods of dry weather, it successfully achieved its targets.
“The implementation of projects in the Renewable Energies business sector and international agricultural activities were key factors in our success in the financial year 2018,” explained Klaus Josef Lutz, CEO of BayWa. “Once again, the diversification of BayWa’s business proved its worth this year.”
