November 8 (Renewables Now) - Earnings before interest and tax (EBIT) from the renewables division of German diversified group BayWa AG (ETR:BYW6) arrived at EUR 3.9 million (USD 4.3m) in the first nine months of 2019, against a loss of EUR 20.9 million a year earlier.
The Renewable Energies division’s revenue rose by 30.7% to EUR 1.08 billion. BayWa sold an 18-MW wind farm in France and continued to expand solar component trading globally. The service business also saw greater activity.
“With more than 650 MW in the sales pipeline, it should be possible to achieve a substantial year-on-year increase in the annual result in the Energy Segment in 2019,” BayWa said. In addition to BayWa r.e. renewable energy GmbH, this segment also includes Conventional Energy, the performance of which has been positively impacted by the global oil price trend and greater domestic demand for wood pellets.
The table contains more details on BayWa’s nine-month results.
|Results in EUR million||9-mo 2019||9-mo 2018|
|— of which Renewable Energies||1,081.2||827|
|Group EBIT (loss)||77.3||28.3|
|— of which Renewable Energies||3.9||(20.9)|
|Net profit (loss)||(1.5)||(19)|
BayWa's three core segments — Agriculture, Energy and Building Materials — all lifted their earnings year-on-year.
(EUR 1 = USD 1,105)