After years of strong growth, the macroeconomic environment changed massively for BayWa AG in 2023, as reflected in the balance sheet for the most recent financial year. Consolidated revenues totalled €23.9 billion in the financial year 2023 (2022: €27.1 billion). At €304.0 million (2022: €504.1 million), operating earnings before interest and tax (EBIT) were down on the previous year's exceptional results, as expected. The Group therefore only fell just short of its annual forecast of €320 to €370 million. Although BayWa succeeded in increasing EBIT by 14% compared to 2021, before the start of the war against Ukraine, the rapid rise in interest rates had a negative impact on all business divisions and put pressure on the internationally active portfolio company's earnings. After deducting interest and tax, BayWa closed the past financial year with a loss of €93.4 million, down €332.9 million year on year.
"We are using 2024 for consolidation," says Marcus Pöllinger, Chief Executive Officer of BayWa AG. "To this end, we are currently looking at each of our 500-plus Group companies and defining areas for growth or optimisation, as well as business areas that BayWa intends to divest. Going forward, each entity must be profitable in its own right. By rolling out our 'Strategy 2030', we will increase BayWa's profitability and reduce our costs across all business divisions and administrative units. This will enable us to move the equity ratio towards 20% in the medium term and continue to strengthen our crisis resilience. The Board of Management's goal is to return BayWa to profitability by 2024."
The company aims to achieve earnings of between €470 and €520 million by the end of 2026, having originally intended to reach this target in 2025. BayWa is counting on the consistently strong appeal of the markets it serves in the fields of food and energy, both of which offer good prospects for the future. "Our major growth areas are the international grain and speciality products trade, as well as renewable energies," Pöllinger says. "Those are fields where we are making sustainable investments. I see a need for optimisation in the agriculture and building materials business units. That is something we are tackling with determination."
For more information: 
Anja Richter
BayWa
Tel.: +49 89 9222-3696
Email: [email protected]