BayWa posts record result – above all in renewable energies

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