MUNICH (dpa-AFX) - BayWa AG (BYWG), a German operator in the agriculture, building materials and energy sectors, reported Thursday a 26 percent jump in fiscal 2021 earnings.
Earnings before interest and tax or EBIT grew to 266.6 million euros from 211.6 million euros a year ago.
In the year, more than half of the consolidated earnings were generated by BayWa r.e., which has been operating as a German stock corporation within the BayWa Group since March 2021.
The Building Materials Segment achieved stronger revenue growth than its competitors and recorded a 56 percent year-on-year increase in earnings.
The company's total revenues increased by more than 20 percent to 19.8 billion euros from prior year's 16.5 billion euros.
Further, the company said plans are in place to raise the dividend for 2021 by 5 cents to 1.05 euros per share.
Looking ahead, Chief Executive Officer Prof. Klaus Josef Lutz said, 'So far, the new financial year is off to a good start. At the present time, BayWa does not expect the war in Ukraine to have a material impact on its activities.'
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