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Baywa CEO says will take breather on acquisitions - report
November 3, 2013 / 12:05 PM / 4 years ago

Baywa CEO says will take breather on acquisitions - report

BERLIN, Nov 3 (Reuters) - Germany’s Baywa will refrain from making further large acquisitions next year after another possible takeover in the produce sector, Frankfurter Allgemeine Sonntagszeitung reported, citing Chief Executive Klaus Josef Lutz.

“It’s very well possible that we will take over another international fruit dealer in the next months,” the CEO told the newspaper in an interview. “Further major purchases before 2015 are unlikely.”

The agriculture, building material and energy conglomerate expects to post “very good” results this year and beat 2012 earnings, he said, paving the way for higher dividend payments to shareholders.

“Given the success in business it’s our goal to further increase the dividend,” Lutz said.

Agriculture is Baywa’s biggest business, with expected operating earnings before interest and tax (EBIT) of 150 million euros ($202 million) in 2014. It expects its other businesses, energy and building materials, to post profits of 50 million euros each. ($1 = 0.7414 euros) (Reporting by Andreas Cremer; editing by Tom Pfeiffer)

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