The fiscal year 2024 was marked by numerous challenging developments affecting nearly all divisions of the company. Of particular note is the acquisition of the Schmidt & Thürmer group in the building materials division, which sends a clear strategic signal for expanding the product portfolio. This move grants access to a high-quality wood assortment and a nearly fully automated CNC-supported production line for wooden components. "With this, we can not only serve the market for sustainable, eco-friendly construction but also realize synergies in purchasing and sales," adds Mario Soose.

The structure of the agricultural sector has been continuously optimized to ensure more efficient and professional handling for our customers and partners. Significant investments were made in modernizing locations in Frohburg, Fritzlar, and Gensungen, as well as improving our logistics structures, underscoring our commitment to sustainability and long-term optimization of supply chains.

The recent completion of the PV park in Eichenzell, the expansion of charging infrastructure with e-charging stations, and the opening of a new market in Lachendorf are decisive steps toward promoting renewable energy and better meeting the needs of our customers. Despite these positive developments, the market performance in the affiliate company RaiffeisenVolt GmbH did not meet expectations. "Although the general market conditions in the photovoltaic sector are challenging, we have already implemented countermeasures to adjust our strategy and cost structure," explains Markus Braun.

Also noteworthy is the successful completion of all approval and certification processes for the establishment of the wood pellet production in collaboration with a partner in Hessisch-Lichtenau. "This development provides a solid foundation to meet the growing demand for pellets," emphasizes Mario Soose.

The growth trajectory continues in the technology division, particularly through the expansion of business activities in Poland and Denmark, as well as the founding of a joint venture with RWZ Cologne. This strategic partnership will sustainably strengthen the performance and profitability of Raiffeisen Waren GmbH.

Despite numerous challenges, a very satisfactory operating result of nearly €42 million was achieved. The goals set for 2024 in terms of gross profit, EBITDA, and EBIT were significantly exceeded. "We are proud to have achieved such positive results despite one-off investments and the transition to the new SAP S/4HANA inventory management system," says Markus Braun.

"Early positive signs of a recovery in the construction sector and encouraging signals from our various divisions strengthen our objectives for the current year," adds Mario Soose.

Overview of Business Area Developments

The revenue of the agriculture division in the 2024 fiscal year decreased by €100.6 million to €664.4 million, mainly due to market price changes. However, the volume analysis shows a contrasting trend. While the gross profits could not reach the extraordinary levels of the previous year, the set goals were exceeded, primarily due to the positive development in the grains and plant protection segments.

In the technology division, sales revenues increased significantly to €720.9 million (previous year: €588.5 million), surpassing expectations. Gross profit was also higher than the previous year, driven by positive developments in sales.

In the building materials division, revenue in the 2024 fiscal year totaled €276.4 million, 7.9% lower than the previous year. The target figures for 2024 were also not met. Gross profits also declined compared to 2023, but the planned gross profit was significantly exceeded.

Revenue in the energy and markets division fell by €111.8 million to €835.7 million, primarily due to the declining crude oil price compared to 2023 and a 6% reduction in sales volume. Despite this, gross profit was maintained at the previous year's level, slightly falling short of the planned figure.

Revenue Development at a Glance (by Business Area)