Solar business is a key pillar of BayWa's revenues
Post date: 12/11/2021 - 10:57
German conglomerate BayWa AG reports revenues of €14.3 billion ($16.3 billion) for the first nine months of 2021 (previous year: €12.2 billion). Earnings before interest and taxes (EBIT) made a jump of around 87 percent to €191.7 million ($220 million) compared to €102.7 million in 9M 2020. Net profit rose significantly from €18.3 million to €83.5 million ($95.7 million).
The energy segment was driven primarily by flourishing trading in photovoltaic components and more than compensated for the weaker Classical Energy segment. After nine months of the current year, the business area as a whole recorded sales of €3.7 billion (previous year: €2.7 billion), an increase of 38.9 percent. EBIT grew by 66.9 percent from €48.0 million to €80.1 million. Around two thirds of energy sales were generated by renewables. Here, the figures rose by almost 70 percent from €1.3 billion in 2020 to €2.2 billion ($2.5 billion) in the 2021 reporting period.
Trading in PV modules in the third quarter of 2021 was 72 percent higher than in the same period of the previous year. Power plants with a total capacity of 202 MW were sold in Europe and Asia, including the first subsidy-free solar park in Poland (Witnica, 64.6 MW).
»Sustained tailwind for the year-end spurt« is expected by Klaus Josef Lutz, Chairman of the Board of Management of BayWa AG, among other things »due to numerous project sales still planned in the Renewable Energies business sector«.