In a difficult world situation, Baywa reports records: The company is active in two business areas that are of enormous importance in the crisis: food and energy.
Munich (dpa/lby) - The Munich-based conglomerate Baywa reports a new record result in the wake of energy shortages and concerns about global nutrition: In the first half of the year, group sales rose by almost 40 percent to 12.9 billion euros within a year. At EUR 328.5 million, the pre-tax result was more than twice as high as in the first half of 2021 (EUR 144.6 million. CEO Klaus Josef Lutz called this "extraordinary and sensational" on Thursday. The net profit has almost tripled, from 66 .8 million to 177.6 million euros.
The leap in sales and profits goes hand in hand with the rapid increase in the price of grain and fertilizer and the increasing international demand for green electricity systems. Baywa is Germany's largest agricultural trader, a second important pillar is renewable energies, the company projects and builds large solar parks, among other things. Both business areas reported excellent results, with sales from renewable energies doubling to EUR 2.7 billion.
CEO Lutz emphasized that the jump in profits in the agricultural business was not due to the market situation, but to higher profitability. For the second half of the year, Lutz and his colleagues do not expect the rapid price increases for grain or fertilizer to continue, but rather stable or at least slower rising prices. The company had already increased its forecast at the end of July and is now expecting a pre-tax profit of EUR 400 to 450 million.
