MUNICH (dpa-AFX) - BayWa AG (BYWG), a trading and services group, reported Thursday that its first-quarter earnings before interest and tax or EBIT was negative 13.8 million euros, compared to prior year's EBIT loss of 41 million euros.
The company said the loss, which was typical for the season, narrowed due to improvement in all three core operating segments. The results were benefited by mild weather conditions, which led to anticipatory effects in the Agriculture and Building Materials Segments, as well as increased demand for heating oil and fuels.
BayWa's revenues increased 7.4 percent to 4.08 billion euros from last year's 3.80 billion euros.
BayWa said it expects the positive start to the season to provide a solid basis for achieving the earnings growth planned for 2019.
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