BayWa AG (BYWG) Thursday said that after posting higher earnings before interest and tax or EBIT, for full-year 2012, it remains optimistic for 2013. The company forecast stable harvest volumes for Germany and New Zealand in 2013 and expects good selling opportunities.
The firm also plans to raise EBIT to 250 million euros as of 2014. According to the firm, both of the agricultural companies acquired in autumn 2012 will allow it to conquer new agricultural tradinghorizons.
The German company provides trade, logistics, and associated services of agricultural products, building materials, and energy products.
EBIT for 2012 climbed 25.2 percent to 186.8 million euros.
Klaus Josef Lutz, chief executive officer of the company stated, "Our international growth strategy is bearing fruit. New Zealand fruit trading company Turners & Growers Ltd was consolidated in the group for the first time and made a significant positive contribution to profit."
Group revenues were 10.5 billion euros, up about 10 percent from last year. Agriculture segment revenues increased 18.6 percent from the preceding year. Fruit business unit reported a considerable climb in revenues to 468.3 million euros from 129.7 million euros due to the New Zealand fruit business.
Grain turnover increased about 10 percent year-over-year. The company said its Agricultural Equipment business unit also posted growth in revenues, boosted by sales of 4,661 new sets of machinery.
On Frankfurt's Xetra, the shares are currently trading at 41.48 euros, down 0.02 percent.
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