BayWa AG (BYWG: Quote) said its first-half revenues were 5.1 billion euros, 11.9 percent higher than last year's 4.6 billion euros.
EBIT (earnings before interest and taxes) came to 91.1 million euros after six months, corresponding to a 2.7 percent increase from the same period last year.
BayWa AG expects performance to remain positive in fiscal year 2012 in view of rising grain prices, continuously strong demand for agricultural equipment, on-target renewable energies projects and the seasonally strong results in Building Materials in the months July to October, which are yet to be recorded.
'We are aiming for an even better result in 2012 than in 2011,' said Klaus Josef Lutz, CEO of BayWa , optimistically, though the Euro and financial crisis has made it even more difficult to give an accurate economic forecast.
After an excellent mid-year result in 2012, Josef Lutz, also expects positive overall performance in the second half of the year. He forecasts a corresponding increase in earnings if weather conditions and market developments remain within their expected scope.
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by RTT Staff Writer
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