BayWa Half-Year Report 2023

In the first six months of the financial year 2023, the BayWa Group’s investment activity resulted in cash outflows of €203.0 million. Of this amount, €15.7 million was attributable to the acquisitions of BayWa r.e. Solar Systems SIA, Riga, Latvia; Cefetra Premium Oils B.V., Spijkenisse, Netherlands; Emmeringer Heizungsbau GmbH, Emmering, Germany; and Uwe Körner GmbH, Lachendorf, Germany, each of which was made as part of a share deal. Funds of €234.1 million were also used for the acquisition of intangible assets and property, plant and equipment. By contrast, cash inflows of €51.1 million resulted from the disposal of intangible assets and property, plant and equipment.

Consolidated revenues stood at roughly €12.6 billion after six months of the current financial year 2023, down 2.7% year on year. Considerably lower sales prices for raw materials and operating resources were the main reason for the drop in turnover. Earnings before interest and tax (EBIT) declined by €141.6 million to a total of €186.9 million. The previous year was buoyed by anticipatory effects and was marked by an unprecedented shortage of products as well as extreme price spikes and occasional irrational behaviour by many market participants. The results of the 2022 financial year can therefore only be compared to the current financial year to a limited extent. Despite some difficult market conditions, the BayWa Group recorded its second-strongest half-year result in the company’s history and is likely to achieve the planned EBIT target of €320 million to €370 million in the financial year 2023.

 

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