BayWa increased both earnings and revenue in its renewable energy business unit in the first quarter of 2019, compared with the same period of 2018.
Earnings before interest and taxes (EBIT) reached €1.2m in the latest quarter, compared with a loss of €5.1m last year, while revenue reached €368.4m, up from €260.4m.
The company said the rise in earnings in the renewables unit was primarily attributable to the sale of BMH Biomethan in Germany.
It added that there were no significant sales of wind or solar in the first three months of this year, but sales are expected in the second half of the year for projects totalling about 660MW.
Overall, BayWa revenue was up to €4.1bn in the first quarter, from €3.8bn in 2018, while the EBIT figure improved on last year but was still in the red – a loss of €13.8m compared with a loss of €41m.