Munich (dpa) - The Baywa conglomerate grew significantly at the start of the year thanks to good business with renewable energies and agricultural trade.

"I assume that we will be able to build on the record result of 2020 this year as planned, even if the further course of the corona pandemic and its consequences for the global economy remain difficult to predict," said CEO Klaus Josef Lutz, according to a statement on Thursday .

However, he still does not dare to change or specify the annual forecast of increasing sales and earnings.

In the first quarter, sales rose year-on-year by around ten percent to 4.3 billion euros.

Before interest and taxes, thanks to the sale of a solar park in Japan and the positive consequences of higher grain prices, 45.1 million euros remained as a profit after a loss in previous years.

The bottom line was that Bavaria's shareholders made a profit this time, namely ten million euros.

© dpa-infocom, dpa: 210506-99-488589 / 2