MUNICH (dpa-AFX) - BayWa AG (BYWG) reported a first-quarter negative EBIT of 41.0 million euros compared t positive EBIT of 8.0 million euros, previous year. The company said these kinds of earnings are typical for the season, and this amount can be attributed primarily to the very long winter period, which had a negative impact on the Agriculture and Building Materials Segments in the German-speaking countries. The company reported revenues of 3.8 billion euros in the first quarter of 2018, flat with prior year.
Looking forward, BayWa expects it will be able to make up for the overall decline in earnings throughout the year, meaning that the Group will be able to achieve its targets for the year.
Copyright RTT News/dpa-AFX