BayWa’s renewables unit has updated its strategic planning as it continues a restructuring programme amid deteriorating market conditions for the renewable energy sector.
The company said the revised plan maintains a positive earnings outlook, targeting adjusted EBITDA of more than €140m by 2027 and around €150m by 2030.
BayWa r.e. added that the operational business has already been streamlined through market exits and portfolio adjustments during the first year of restructuring.
Further measures will include separating from unprofitable non-core business units and improving cost structures.
The company said the planning horizon has also been extended by two years to 2030.
BayWa r.e. will focus on specific core markets in Europe while adopting a more selective approach to its activities in the United States.
Hans-Joachim Ziems, chief restructuring officer of BayWa r.e. AG, said the restructuring process remains ongoing.
“The restructuring is on track, however, there is still a long way to go.”
“In view of the significantly clouded market conditions, further continuous restructuring measures will be necessary.”
“In doing so, we will focus on specific core markets in Europe.”