BayWa made a profit of over €22m from its renewable energy activities in 2018, up from just under €20m in the previous year.
The German company said the €22.5m profit was mainly down to strong international project business.
Revenue from renewables also grew to more than €1530m last year, a 12% rise on the €1366m posted in 2017.
Earnings before interest and taxes rose to €72.5m in 2018 from €66.6m the year before.
Overall, BayWa net income from all its business units last year was €54.9m, down from €67.2m in 2017.
Revenue was up 3.6% to almost €16,626m from just over €16,055.1m, while EBIT grew slightly to €172.4m from €171.3m.
BayWa chief executive Klaus Josef Lutz said: “Both conventional energy business and the renewable energies business unit reached new record highs.”
He added that the company is looking to integrate a ‘green perspective’ to its business strategies and models to a greater extent.
“The impact of climate change presents the greatest challenge in our history as a society and therefore for us as a company too,” Lutz said.
“By adding this ‘green perspective’ to our business, we want to find answers to the question of how to continue to develop in a sustainable and environmentally friendly manner as a business.”