Baywa achieves €1.6 billion revenue with renewables in the first quarter
Post date: 05/05/2022 - 14:40
German conglomerate Baywa AG increased its sales by 53.9 percent year-on-year to €6.26 billion ($6.60 billion) in the first quarter of this year (Q1 2021: €4.07 billion). Earnings before interest and taxes (EBIT) rose by 221 percent from €45.1 million to €144.9 million ($152.8 million). Of the Group’s seven segments, the renewable energies business bundled in Baywa r.e. AG contributed the largest share of revenue at €1.59 billion ($1.68 billion), followed by the »Cefetra Group« segment (trading primarily in grain and seed as well as milk and dairy products) at €1.43 billion.
Baywa r.e. increased its sales here by 141 percent compared to the same quarter last year (€662 million) – by far the highest rate in the Group as a whole. The Board of Management cites the sale of three major solar and wind power projects in the reporting period as one of the reasons for this, as well as the »unabated« boom in solar module trading. EBIT rose by almost 90 percent from €33.7 million to €63.9 million ($67.4 million). In absolute terms, Baywa r.e. thus also contributed the highest share of the group’s total EBIT.