German renewable energy specialist Juwi posted a €2.3m profit in 2015, having made a €112m loss the previous year.
Revenues were up to €575m in 2015, a 15% rise on 2014’s €505m, the company said.
Juwi cited several reasons for the turnaround including the strategic reorientation of the company, focusing on onshore wind development in Germany and solar development and EPC services, globally.
The company said it had also increased activity in commercial and technical management for operators of wind energy and solar facilities.
MVV Energie taking a 63% stake in Juwi at the end of 2014 had also given the company a “significantly more solid financial foundation”, Juwi said.
Juwi founder Fred Jung said: “Following the discontinuation of a large number of loss-making activities, our concentration on our core business areas has now paid off. We have practically returned to our roots – a ground-breaking decision.”
Image: Juwi
