Germany-based international trading and services group BayWa has revealed its results ofr the full-year of 2017, with revenues and EBIT rising after all operating segments improved their earnings year-on-year.
According to the group, revenues rose to €16.1bn from €15.4bn in 2016, while earnings before interest and tax (EBIT) increased to €171.3m from €144.7m.
A non-recurring effect from the sale of BayWa Group headquarters in Munich, completed in the past year, also contributed to the EBIT increase in 2017, the group added.
While BayWa's agriculture division saw 'substantial earnings improvement', the fruit business endured a difficult year, the group noted.
'In New Zealand and above all in Germany, the effects of disastrous weather conditions in some cases resulted in a significant loss in produce quality and quantity, which ultimately led to lower EBIT than in 2016,' BayWa reported. 'Positive trends in the pomefruit business in New Zealand and the full-year inclusion of the tropical fruit trade in consolidated earnings were unable to offset this development.'
BayWa hopes to achieve EBIT in 2018 that is at least on a level similar to 2017, meaning earnings improvements will have to offset or even slightly exceed the non-recurring effect from the 2017 sale of group headquarters.
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