Strong apple market cannot prevent Q3 loss for BayWa

BayWa, a German conglomerate, reported a significant third-quarter loss for 2024. Despite a strong apple market bolstering its fresh produce division, impairment losses in other areas resulted in a €77.6 million deficit before interest and taxes, further exacerbated to almost €300 million after additional impairments. This contrasts sharply with the €214.6 million profit reported in the same period last year. While revenue decreased overall, the Global Produce Segment saw a significant recovery thanks to strong apple prices in both the northern and southern hemispheres, offsetting the previous year's losses caused by a cyclone in New Zealand. This segment, which includes fresh fruit companies like T&G Global and BayWa Obst, generated a profit of €1.1 million compared to a previous loss. However, challenges persist in other sectors, including construction and renewable energies, contributing to the overall negative financial results.