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BayWa AG

euro adhoc: BayWa AG
Annual Reports
BayWa Group on growth path despite declining markets Increase in operating profit (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Munich, 31 March 2004 - The Supervisory Board and the Advisory
Council of the BayWa Group have confirmed the 2003 consolidated
financial statements. In 2003, the BayWa Group raised sales by 10% to
EUR 5.9 billion. Growth was generated by the takeover of
Stuttgart-based WLZ Raiffeisen AG and by market expansion in the
Energy and Construction segments. The Group improved operating
profit, adjusted for one-off factors, by 9.4 % to EUR 40.8 million.
Net income for the year fell, as scheduled, from EUR 49.9 million to
EUR 24.4 million due to the fact that the previous year included
one-off proceeds from the sale of a food chain. A stable dividend of
EUR 0.24 per share will be proposed to the Annual General Meeting.
For the current financial year, the management of the Group expects a
more favourable economic environment and fewer exceptional one-off
factors. Against this background, stable sales and earnings increase
have been planned. More information will be provided by the Group on
1 April at 10 a.m. at the Press Conference on the Financial
Statements and at 14 p.m. at the Analysts' Conference.
BayWa Aktiengesellschaft
Sec. code no. 519406 // ISIN DE0005194062;  Sec. code no. 519400 // 
ISIN DE0005194005
end of announcement        euro adhoc 01.04.2004

Further inquiry note:

Birgit Sigl
Tel.: +49 (0)89 9222 3692

Branche: Agriculture
ISIN: DE0005194062
WKN: 519406
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Bayerische Börse / official dealing
Frankfurter Wertpapierbörse / official dealing

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