Renewables drive BayWa AG's third quarter gains

Share

Germany’s BayWa AG has posted significant EBIT growth for the third quarter of the year, predicated on a strong showing for the firm’s renewable energy division, BayWa r.e.

According to Q3 results published today, BayWa r.e. saw its EBIT rise year-over-year to €75.3 million, up from €74.5 million over the same period in 2014. Revenue was marginally short of the previous year’s performance – reaching €11.1 billion for the first nine months of the year, down from €11.4 billion in 2014 – but positive developments characterized the company’s clean energy ventures.

Revenues and EBIT for BayWa r.e.’s renewable efforts came in at €580.9 million and €25.6 million respectively, over the first nine months of the year. The EBIT increase was 25.3% despite a decline in solar PV trading in Europe.

Wind power projects in the U.S. accounted for the lion’s share of the firm’s robust renewable performance, the company said. However, six major solar and wind projects, with a combined capacity of 114.5 MW, were successfully sold in Q3 alone.

"We are only able to post these results after the first nine months of the year thanks to the good results in international grain trading and the outstanding development in Europe and U.S. renewable energies project development business," said BayWa AG CEO Josef Lutz.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.