BayWa posts record result – above all in renewable energies
Post date: 31/03/2023 - 13:01
German agricultural and energy group BayWa AG has reported »record levels of revenues and earnings before interest and taxes (EBIT)« for financial year 2022. The company generated revenues of € 27.1 billion ($ 29.5 billion), 36.9 percent more than in the previous year (€ 19.8 billion), while EBIT rose 89.1 percent to € 504.1 million ($ 548.2 million; previous year: € 266.6 million).
In the Renewable Energies segment, sales increased by 80.6 percent from € 3.6 billion to € 6.5 billion ($ 7.1 billion), accounting for 24 percent of total sales. The segment's EBIT amounted to € 239.1 million ($ 260.0 million), 77.1 percent more than in 2021 (€ 135.0 million). The project business and wholesale in the renewable energies sector thus contributed 47.4 percent to the Group’s EBIT. BayWa plans to sell wind and solar projects with a total capacity of 2.1 gigawatts in 2031. To expand further growth in this area, the photovoltaic wholesale business is to be divested, according to a March 1 announcement.
© PHOTON