BayWa Q1 Report 2023

The BayWa Group’s revenues grew by €23.4 million, or 0.4%, year on year to €6,280.4 million in the first quarter of 2023. This increase was driven in particular by the Agri Trade & Service Segment (up €86.9 million to €1,484.8 million), the Agricultural Equipment Segment (up €63.9 million to €539.9 million) and the Global Produce Segment (up €32.8 million to €257.1 million). An offsetting effect came from the development of revenues in the Renewable Energies Segment (down €94.0 million to €1,499.5 million), the Energy Segment (down €16.0 million to €633.2 million) and the Building Materials Segment (down €63.0 million to €414.4 million). Taking into account other operating income (down €12.3 million to €84.9 million) and changes in inventories (up €159.0 million to €37.4 million), the BayWa Group’s gross revenues amounted to €6,406.1 million in the first quarter of 2023, a rise of €169.7 million year on year.

Cost of materials climbed by €173.5 million, or 3.2%, to €5,664.5 million. The resulting gross profit amounts to €741.6 million and is therefore €3.8 million, or 0.5%, lower than in the previous year.

The €35.7 million increase in personnel expenses to €373.7 million is primarily attributable to the growth in the number of employees, especially in the Agri Trade & Service Segment and the Renewable Energies Segment.

The BayWa Group’s earnings before interest and tax (EBIT) amounted to €91.8 million at the end of the first quarter of 2023. Despite being €53.1 million, or 36.6%, lower than the EBIT in the same period of 2022, the 2023 figure exceeds the EBIT in the first three months of 2021 by €45.1 million, or 103.6%.