(RTTNews) – BayWa AG (BYWG), a German trading, logistics, and supplementary services provider, reported Wednesday that its first-quarter consolidated loss group share was 69.8 million euros, compared to profit of 4.5 million euros.
Loss per share was 1.98 euros, compared to profit of 0.13 euro a year earlier.
Earnings before taxes or EBT was negative 152.8 million euros, compared to positive 14.6 million euros last year. Earnings before interest and taxes or EBIT amounted to negative 61.3 million euros in the first quarter, compared to positive 91.8 million euros last year.
Sales revenue declined to 5.19 billion euros from last year’s 6.28 billion euros.
The company noted that weak results in the first quarter of 2024 are typical for the season.
Looking ahead, BayWa expects significantly more dynamic business in 2024. The company continues to expect 2024 EBIT between 365 million euros and 385 million euros.
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