Baywa r.e. with doubling in sales and EBIT up 67 percent in the first half of the year
Post date: 04/08/2022 - 15:13
German agricultural and energy group Baywa AG has reported huge sales and profit growth for the first half of 2022. Revenues of €12.914 billion ($13.132 billion) were 38.9 percent higher than in the same period last year (€9.297 billion), while earnings before interest and taxes(EBIT) of €328.5 million ($334.0 million) exceeded the €144.6 million of the same period last year by 127.2 percent.
Baywa r.e. AG, which combines the Group’s renewable energy business, played a particularly large part in this development. Its first-half revenue of €2.734 billion ($2.780 billion) was 102.4 percent higher than in the same period last year (€1.351 billion), while EBIT rose 67.3 percent from €50.8 million to €85.0 million ($86.4 million). Baywa r.e. reported, among other things, 77 percent more sales of solar modules and 52 percent more sales of inverters. The new IPP (Independent power producer) business unit for electricity sales from renewable energy plants »also developed positively thanks to the sharp rise in electricity prices«.