BayWa AG : Q2 2019 op. profit in line; bottom line burdened by high financial expenses
>Q2 2019 EBIT ahead of our estimate, but bottom line burdened by higher than expected financial expenses (project financing & IFRS 16) - Following BayWa’s Q2 2019 results release, we have revisited our estimates: BayWa reported Q2 2019 group EBIT of € 66.0m (down 10% yoy), slightly ahead of our € 64.0m estimate. (H1 2019 EBIT: € 52.3m, up 63% yoy; € 7m uplift from IFRS 16). BayWa’s Q2 2019 German agri supply and trade business surprised positively based on volume and ...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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