DGAP-News: BayWa AG: General Assembly approves a 20% increase in dividends for 2011 - BayWa reaffirms its positive outlook for 2012
(firmenpresse) - DGAP-News: BayWa AG / Key word(s): AGM/EGM
BayWa AG: General Assembly approves a 20% increase in dividends for
2011 - BayWa reaffirms its positive outlook for 2012
30.05.2012 / 13:48
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BayWa AG: General Assembly approves a 20% increase in dividends for 2011 -
BayWa reaffirms its positive outlook for 2012
Chief Executive Klaus Josef Lutz not only wishes to consolidate BayWa
throughout the current year, but also wants to take advantage of
opportunities for growth. The BayWa AG Chief Executive confirmed to
shareholders at the Annual General Meeting that the business had made
further international acquisitions in the agricultural and renewable energy
sectors, and that consolidating these acquisitions will now be the
priority, 'Should encouraging acquisition objectives help to strengthen the
core business, even on an international level, then we will meet them',
said Klaus Josef Lutz. The consistently strong equity ratio of over 27
percent, and the very sound financial structure of the trade and service
sectors, are very important in this context. Any further acquisitions would
not be borne by the business's debt ratio.
2012: Further improvements in operating profit
BayWa also wants to improve its operating profit in 2012, and is focusing
on increased proficiency and process optimisation.
BayWa started very well in the first quarter of 2012, announcing higher
than average profits in the region of EUR 7 million EBIT (earnings before
interest and taxes). Lutz appeared to be very content, and optimistic for
the current year. As the amended downturn in forecasts for grain harvest
this year is expected to remain at a relatively high price for agricultural
produce, this will have a positive impact on the entire agricultural
sector. This can also be seen in the construction sector, which continues
to grow at a healthy rate because of the increasing number of new building
contracts.
Outstanding results in 2011
During his speech at the Annual General Meeting, the Chief Executive gave a
detailed review of the 2011 financial year. Consolidated sales amounted to
approximately 9.6 billion Euros, up 21% from the previous year. EBIT rose
to over EUR 151 million, compared to around EUR 129 million in 2010. All of
the business sectors contributed to the success in 2011, as not only the
agricultural sector, but also the energy and construction sectors exceeded
their EBIT totals from the previous year. In the agricultural sector, lower
harvest yields led to an increased demand for cereals. Industrial producer
prices remained stable, which boosted trade in agricultural equipment and
technology.
Even the fruit sector performed well, and the prices remained stable in
spite of increased harvest volumes of table fruit. Lutz emphasised the fact
that BayWa had taken another significant step towards internationalisation
following the acquisition of Turners&Growers, one of the world's most
important fresh fruit retailers. 'In the future, we expect consistently
high levels of profit from New Zealand, and additional marketing
opportunities for our German growers', added the Chief Executive. Besides
the acquisitions of companies in the renewable energy sector, who engage
in, and build wind turbines and solar panels in the UK and the US, the
acquisition of Turners&Growers was an important milestone in increasing
the group's international presence during 2011.
Because of the excellent results achieved in 2011, which exceeded
expectations, a dividend increase of 20 percent, up to 60 cents per share
was recommended to each shareholder. This increase was approved by the
shareholders.
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom(at)baywa.de
End of Corporate News
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30.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: marion.danneboom(at)baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
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171911 30.05.2012
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