BayWa’s renewable energy business segment helped the German company increase both earnings before interest and taxes and revenue in 2018, according to preliminary figures released today.
EBIT reached €172.4m last year, up from €171.3m in 2017, while 2018 revenue stood at €16.6bn rising from €16.1bn a year earlier.
BayWa said the figures are on target and allowed it to compensate for unnamed positive one-off effects in 2017.
BayWa chief executive Klaus Josef Lutz (pictured) said: “The implementation of projects in the renewable energies business sector and international agricultural activities were key factors in our success in the financial year 2018.
“Once again, the diversification of BayWa’s business proved its worth this year.”
The company will release its full 2018 results on 28 March.