MUNICH (dpa-AFX) - BayWa AG (BYWG), a German trading, logistics, and supplementary services provider, on Thursday said it expects lower earnings before interest and tax or EBIT for full year 2023. The company also issued outlook for fiscal 2025.
For full year 2023, the company expects EBIT of 320 million euros to 370 million euros.
By the end of 2025, BayWa aims to generate operating EBIT of 470 million euros to 520 million euros.
As reported in February, fiscal 2022 EBIT surged nearly 90 percent to 504.1 million euros from last year's 266.6 million euros.
EBIT was supported by an increase in revenue, amidst higher demand, especially for solar modules, agricultural machinery, and building materials.
Revenues stood at 27.1 billion euros in 2022, up from 19.8 billion euros a year ago.
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