06.08.2015 BayWa AG  DE0005194062

DGAP-News: BayWa presents results for first half of 2015: Shift effects to the second half of the year indicate rise in earnings for 2015


 
DGAP-News: BayWa AG / Key word(s): Half Year Results BayWa presents results for first half of 2015: Shift effects to the second half of the year indicate rise in earnings for 2015 06.08.2015 / 10:30 --------------------------------------------------------------------- BayWa presents results for first half of 2015: Shift effects to the second half of the year indicate rise in earnings for 2015 BayWa AG's reporting for the first half of 2015 is shaped by shift effects into the second half of the year. The international trade and services company therefore continues to anticipate increases in revenues and earnings for the financial year 2015. As at 30 June 2015, BayWa AG reported revenues of EUR7.4 billion (H1/2014: EUR7.7 billion) and EBIT of EUR40.7 million (H1/2014: EUR62.1 million). "In July 2015, we sold a wind farm in the US, which resulted in EUR20 million in earnings," explained BayWa Chief Executive Officer Klaus Josef Lutz. "This shift effect to the next quarter was essentially due to the fact that we do not orient our project sales to the end of the respective quarter. As a result, shortly after the close of the half-year period, our EBIT is at the same level as the previous year." The wind farm and solar park project business, which is part of renewable energies at BayWa AG, is performing outstandingly overall and all signs point to a very good earnings situation for 2015, Lutz continued. There were further shifts in business elsewhere, particularly in the agriculture sector. Although agricultural trade saw an increase in trading volumes in the first six months of 2015, stagnating grain prices meant that margins were extremely low, Lutz explained. "Prices rallied for a period of time from mid-May. We used these to generate additional profit opportunities in our trading business, but they are not going to have an impact on our accounts until later on." In addition, the new BayWa trading activities in South Europe still had to be established and were therefore associated with corresponding start-up costs. "Well-filled order books in international business, full silos in BayWa core regions with significant marketing opportunities and the favourable overall trade conditions, such as an average harvest and harvest forecasts with corresponding potential for price rises, give us confidence that our performance in the second half of the year will be strong," Lutz said, underlining his expectations that BayWa AG will be able to boost its revenues and earnings year on year in the financial year 2015. "We are also extremely satisfied with the development of international fruit trading, which generated an increase in earnings in the first half of the year." Agriculture Segment: slight rise in revenues and stable EBIT year on year In the first half of 2015, the Agriculture Segment, which comprises trading in agricultural operating resources and produce as well as the agricultural equipment and fruit business units, generated revenues of around EUR5.4 billion (H1/2014: EUR5.3 billion) and EBIT of roughly EUR65.0 million (H1/2014: EUR66.2 million). Development in agricultural trade was shaped on the one hand by the record-breaking grain harvest in 2014/15, strong demand outside of Europe and rising trading volumes, but also, on the other hand, low volatility and correspondingly low margins. Revenues in the first half of the year came to EUR4.43 billion (H1/2014: EUR4.37 billion); EBIT stood at EUR41.3 million (H1/2014: EUR42.4 million). High grain inventories from subsequent collection and storage business, the price rally at the end of the first half of 2015 and full order books at BayWa mean that positive business development is expected in the second six months of the year. In the agricultural equipment business, yet another increase was recorded in the sales of tractors, particularly of used machinery. As a result, the agricultural equipment business unit posted a slight rise in revenues to EUR649.2 million (H1/2014: EUR648.7 million) in the first half of 2015. However, there is growing trend towards tractors with lower engine power, which generate smaller margins. Due to the lower margins in the sales of new machinery and increased infrastructure costs, EBIT came to EUR7.7 million (H1/2014: EUR11.2 million). As the agricultural equipment business unit is bucking the overall market trend of falling demand in Germany and continues to perform well, BayWa believes that this development will continue into the second half of the year. Fruit business at the Group benefited in the first half of the year from the extremely positive southern hemisphere apple harvest and the activities of New Zealand Group company T&G Global Limited (formerly: Turners & Growers Limited), which strengthened its overall position by acquiring Apollo Apples. There were major rises in the sales of fruit. In Germany, the record-breaking 2014 harvest was sold off in full against the backdrop of more solid prices in recent times. Fruit trading revenues rose in the first half of the year to EUR295.9 million (H1/2014: EUR268.2 million). EBIT climbed to around EUR16.0 million (H1/2014: EUR12.7 million). Given the anticipated rise in prices on the back of a poorer harvest in Germany, BayWa intends to match the success of the first half of the year in the second six months of 2015. Energy Segment: conventional energy generates major gains - BayWa r.e. concludes lucrative project sale in July The Energy Segment comprises the Group's trading activities in fossil and renewable heating fuels, fuels and lubricants as well as its business in renewable energies, which is pooled in BayWa r.e. renewable energy GmbH. Due to the low price of oil and the postponement of the sale of a wind farm project in the US, the Energy Segment posted lower year-on-year revenues in the first half of 2015 of EUR1.3 billion (H1/2014: EUR1.6 billion) as well as a year-on-year decline in EBIT to EUR-0.9 million (H1/2014: EUR17.5 million). Conventional trading and distribution business recorded a mainly price-related decline in revenues to EUR1.1 billion in the first half of 2015 (H1/2014: EUR1.3 billion). By contrast, there was a significant rise in EBIT to EUR3.1 million (H1/2014: EUR0.7 million), which was partly due to the increase in demand for heating oil and wood pellets. In the renewable energies business, a number of solar and wind farms were commissioned in Germany, elsewhere in Europe and in the US in the first half of the year, some of which have also already been sold. In addition, the company acquired project rights in North and South America, which will fill the sales pipeline even further moving forward. Above all, the postponed sale of a wind farm to the third quarter and more difficult conditions in the sale of PV modules in Germany and the UK pushed revenues in the first half of the year down to EUR256.8 million (H1/2014: EUR306.3 million) and EBIT to EUR-3.9 million (H1/2014: EUR16.8 million). "Earnings in this area will increase considerably in the second half of the year thanks to the sale of the major project in the US in July and advanced negotiations on the sale of further large-scale plants," Klaus Josef Lutz said. Building Materials Segment: low-margin drop shipping business has impact on first half of 2015 The Building Materials Segment mainly comprises BayWa Group trading activities involving building materials in Germany and Austria. It was not possible to fully compensate for the weather-related declines in sales from the first quarter by the end of the first half of 2015. Revenues came to EUR689.7 million (H1/2014: EUR724.9 million). One major contributing factor here was that this year's building materials business did not gather pace until after Easter, unlike in the previous year. In addition, the first half of the year in the building materials business is always characterised by lower-margin drop shipping business. This also had an impact on EBIT, which came to EUR-1.5 million in the first half of the year (H1/2014: EUR8.0 million). BayWa assumes that it will be possible to make up this shortfall in the third quarter, as the BayWa Building Materials order books are well filled and the recent favourable weather patterns have already injected additional impetus into business activities. Contact: Marion Danneboom, BayWa AG, Head of PR/Corporate Communications, tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98, e-mail: [email protected] --------------------------------------------------------------------- 06.08.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BayWa AG Arabellastraße 4 81925 München Germany Phone: 089/ 9222-3691 Fax: 089/ 9222-3698 E-mail: [email protected] Internet: www.baywa.de ISIN: DE0005194062, DE0005194005, WKN: 519406, 519400, Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 384127 06.08.2015


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 16.055,13 16.625,70 17.059,00 17.155,40 19.839,10 27.061,80 25.500,00
EBITDA1,2 318,44 315,30 403,00 468,40 555,80 858,80 632,00
EBITDA-Marge3 1,98 1,90 2,36 2,73 2,80 3,17
EBIT1,4 171,26 156,60 188,40 215,20 269,60 504,10 355,00
EBIT-Marge5 1,07 0,94 1,10 1,25 1,36 1,86 1,39
Jahresüberschuss1 67,23 54,90 65,10 61,30 128,80 239,50 67,00
Netto-Marge6 0,42 0,33 0,38 0,36 0,65 0,89 0,26
Cashflow1,7 -170,15 -452,20 -24,90 674,80 -583,60 -337,20 0,00
Ergebnis je Aktie8 1,13 0,92 0,80 0,68 1,63 4,36 1,35
Dividende8 0,90 0,90 0,95 1,00 1,05 1,20 0,85
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
BayWa vink. NA
WKN Kurs in € Einschätzung Börsenwert in Mio. €
519406 25,900 Halten 945,49
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,93 25,60 0,34 15,20
KBV KCV KUV EV/EBITDA
0,95 - 0,03 7,78
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,20 0,00 0,00 11.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
08.05.2024 03.08.2023 09.11.2023 28.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-9,34% -18,66% -17,25% -35,73%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu BayWa AG  ISIN: DE0005194062 können Sie bei EQS abrufen


Agrar , 519406 , BYW6 , XETR:BYW6