BayWa’s renewables business posted earnings before interest and taxes of almost €4m in the first nine months of 2019, compared with a loss close to €21m in the same period of last year.
Revenue from the business segment was up almost 31% to just under €1.1bn from €827m last year.
The German company said the unit benefited from the sale of the 18MW Les Landes wind farm in France and a 0.5MW biogas plant in Germany in the third quarter.
BayWa was also boosted by the expansion of international trading activities involving photovoltaic components, with the number of PV modules sold almost doubling.
It added that the service business saw more utilisation than in the previous year.
BayWa said that in the period until the end of the year it will continue with project sales.
The Schonberg wind power plant in the German state of Mecklenburg-West Pomerania was sold at the start of the fourth quarter and more sales are scheduled in Europe as well as in the US and Mexico.
A total of 650MW of projects are expected to have been sold globally for the whole of 2019, the company said.