BayWa’s earnings from renewables grew 8.9% in 2016 to €67.3m from €61.8m in 2015.
The company said the increase was mainly down to the sale of wind and solar farms in Germany and abroad.
However, renewables revenue fell 7.1% to €945.9m from more than €1bn the previous year. A decline in the price of solar modules was the reason cited for the drop.
BayWa said it has a commissioning and sales pipeline for wind, solar and bioenergy assets totalling 510MW for 2017.
Renewables will be a “strong” sector for the company this year, it added.
Overall, the company’s earnings were down 8.5% at €144.7m in 2016, compared with €158m in 2015. This was the result of a “difficult” year for BayWa’s agricultural businesses, it said.
Image: BayWa
