Renewable energies were BayWa's sales drivers in 2020
Post date: 26/03/2021 - 08:16
German BayWa AG has reported earnings before interest and taxes (EBIT) of €215.2 million ($253.6 million) for 2020 compared to €188.4 million in 2019. All segments had contributed to this development and some business units had set new records. Sales increased slightly to €17.2 billion ($20.3 billion) from €17.1 billion in the previous year.
According to Klaus Josef Lutz, Chairman of the Board of Management, the global expansion of renewable energies continued unabated. In the Renewable Energies business sector, the Group had continued its growth and »achieved new records in revenues and EBIT«.
In 2020, EBIT in the Energy Segment rose by twelve percent to €142.7 million (previous year: €127.4 million), while revenues of €4.2 billion were down on the previous year's figure of €4.5 billion. The Renewable Energies business alone contributed €2.5 billion to sales (2019: €1.9 billion). According to the company, the drivers in this business unit were the project business and solar trading: With a total output of 667 MW, the share of turnkey wind and solar energy plants constructed in the reporting period was 94 percent (previous year: 37 percent). Due to high demand, the total output of traded photovoltaic components grew by a double-digit percentage to now exceed one gigawatt of total output.
For the financial year 2021, BayWa expects revenues and operating EBIT to be slightly higher than in the previous year, provided that »the restrictions on the global economy caused by the further course of the Corona pandemic remain within bounds.« The project pipeline in the field of renewable energies is already at 1.1 GW for 2021. Recently, the Swiss investor EIP had joined BayWa r.e. Renewable Energy GmbH (BayWa r.e.) in the course of a capital increase. Therefore, as reported, the company will increase its IPP business. This additional proceeds will be included for the first time in 2021. The company plans to operate around 20 solar and wind power plants with a total capacity of 600 MW by the end of this year.