BayWa’s renewables unit has posted earnings before interest and tax (EBIT) of nearly €51m in the group’s first half year results, an increase of more than 100% compared with the same period in 2020.
Revenues in the group’s overall energy segment stood at €2.2bn in the first half of 2021, compared with €1.8bn in the first half of 2020, while EBIT more than tripled, rising to €57.3m in the first half of 2021 compared to €16.7m in the first half of 2020, as a result of the sales of three wind farms in Germany, France and Sweden with a total output of 102MW.
BayWa subsidiary BayWa r.e., in which BayWa pools its business involving renewable energy, plans to sell solar parks and wind turbines with a total output of 1.1GW in 2021, the majority of this capacity in the second half of 2021.
There was also a boost in sales in trade activities involving photovoltaic components, as BayWa r.e. sold 57% more solar modules in the reporting period than it did in the same period the previous year.