BayWa AG significantly increases operating result
Post date: 10/08/2019 - 18:18
German trading and services group BayWa AG slightly increased its earnings in the second quarter of 2019 to €8.4 billion ($9.4 billion) compared with €8.3 billion in the same period of the previous year and posted sales earnings before interest and taxes (EBIT) of €52.2 million ($58.5 million), a significant increase on the previous year's figure of €32.1 million. The improvement in EBIT was largely attributable to positive developments in the operating business fields, especially in the energy segment, says the company
In the first half of 2019, the Renewable Energies Business Area (BayWa r.e.) was characterised by the project planning and start of construction for a large number of wind and solar energy projects. BayWa r.e. intends to sell the majority of its wind and solar power plants in the final quarter of 2019. In order to achieve the announced further stronger growth of BayWa r.e. in the construction of solar and wind power plants, BayWa r.e. took over the business activities of the British company Forsa Energy in spring.
In the first half of 2019, BayWa r.e. was also able to continue its growth course in trading with photovoltaic components and double module sales compared with the same period of the previous year. Business with commercial and technical operations management for large-scale solar and wind turbines also developed positively.
BayWa assumes that the annual result in 2019 will be above the high level of the previous year.