FX.co ★ BayWa Slips To Loss In Q1 On Weak Revenues; Confirms FY24 Outlook

BayWa AG, a German company specializing in trading, logistics, and additional services, reported a consolidated loss group share of 69.8 million euros in the first quarter, a significant drop from a profit of 4.5 million euros in the previous year.

The loss per share was 1.98 euros, a decline from a profit of 0.13 euro per share in the preceding year. Earnings before taxes, or EBT, represented a negative 152.8 million euros, a substantial decrease compared to a positive 14.6 million euros in the last year.

Similarly, Earnings before interest and taxes, or EBIT, represented a negative 61.3 million euros in the first quarter, contrasting with the previous year's positive 91.8 million euros. The company also saw its sales revenue reduce to 5.19 billion euros, down from 6.28 billion euros the previous year.

However, BayWa noted that these weak results in the first quarter of 2024 are typical for the season. BayWa is optimistic about the future, anticipating more dynamic business operations in 2024. The company maintains its EBIT forecast for 2024 to be between 365 million euros and 385 million euros.