BayWa AG : BayWa indicated a good start into 2019
>Full-year 2018 net profit below our estimate due to interest expense and tax - BayWa reported its final full-year 2018 results on 28 March. EBIT of € 172.4m was in line with the preliminary result released earlier. Reported full-year EPS of € 0.92, was well below our estimate of € 1.54 (no preliminary figure issued), held back by higher than expected interest expenses and a tax ratio of 40.7% (normalized ~29%). We lower our EPS estimates by 10% for 2019e and by 9% fo...BayWa is a trading and service company. Co. operates in six business units: Agricultural Trade, which comprises trading in agricultural produce and operating resources; Fruit, which includes activities of fruit growing and trading; Agricultural Equipment, which provides agricultural equipment and services; Energy, which supplies heating oil, fuels, lubricants and wood pellets to customers; Renewable Energies, which provides customers services geared to project planning for wind power, biogas facilities and solar power plants; and Building Materials, which comprises building materials sales activities as well as the operation of DIY and garden centres of Co.'s Austrian group companies.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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