Put all ingredients in a bowl and mix with a mixer for 7 minutes.
Pour the dough into a greased, floured pan or spread it on a baking sheet.
Bake at approx. 160 °C for 1 hour.
Preparation Tip:
The Gugelhupf can also be prepared in other variants. Instead of water you can use eggnog and instead of nuts grated chocolate, or both.