Germany: BayWa expects profit rise in 2013

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Germany: BayWa expects profit rise in 2013

German agricultural and renewable energy company BayWa (DE: BYW) has forecast an increase in profits for 2013, driven by positive outlooks for several of its divisions including fruit. BayWa

"BayWa plans to once again increase its operating result slightly in 2013," the company said in a release.

Chief Executive Officer Josef Lutz said while the year had got off to a somewhat subdued start typical of the season due to the long and hard winter, good marketing opportunities were to be expected everywhere.

Lutz, whose company owns New Zealand produce business Turners & Growers (NZX: TUR), also highlighted rising food consumption globally, an "excellent fruit harvest" in the Southern Hemisphere and an overall "green" result for German agriculture.

In terms of the company's other businesses, he said the outlook was rosy for agricultural equipment and renewable energies.

"For BayWa, the implementation to date of the growth and internationalisation strategy has been a major success," Lutz said at the company's annual general meeting (AGM).

"The further consolidation of these (acquired) companies and the expansion of the business, both nationally and internationally, cement BayWa's position as one of the leading companies in Europe and the world in the fields of agriculture and energy.

"The acquired companies – Cefetra, Bohnhorst and Turners & Growers – meant outstanding opportunities for growth, especially in international grain and fruit trading, “because food and the supply of energy will continue to be among the most pressing issues throughout the world."


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