BayWa AG (BYWG), the international trading and services company, posted a significant growth in both revenues and earnings before interest and tax or EBIT for 2012.
The Group said it had generated EBIT of nearly 187 million euros in the recent year, with consolidated revenues of about 10.5 billion euros exceeding the ten-billion mark for the first time in 2012.
BayWa's Chief Executive, Klaus Josef Lutz, explained: 'The result shows a very positive development that confirms our targeted growth strategy in the core business areas, both on a national and international level. Even without the non-recurring earnings of around EUR20 million, primarily resulting from the real estate sale of the BayWa headquarters in Munich, we are still able to report an even higher result in 2012 than we had originally forecast. This is mainly attributable to significant improvement in operations.'
In addition, the board would put forward a proposal to the Supervisory Board to raise the dividend from 0.60 euros - 0.65 euros per share, corresponding to an increase in the dividend of at least 8%.
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