Published: 17 November 2020 17 November 2020
BayWa has continued the positive development seen in the first half of the year by recording an improvement in earnings after nine months. Earnings before interest and tax (EBIT) increased to €102.7 million (Q1–3/2019: €77.3 million).
All three operating segments – Energy, Agriculture and Building Materials – contributed to this rise. Due to price effects, revenues fell year on year to stand at €12.2 billion (Q1–3/2019: €12.5 billion). The Energy Segment reported a price-related decline in revenues to €2.7 billion as at the end of the third quarter (Q1–3/2019: €3.0 billion). By contrast, EBIT rose significantly to €48.0 million (Q1–3/2019: €25.4 million). In the Renewable Energies business unit, various project sales in Europe and Asia, as well the photovoltaic component trading business, made a contribution to the positive result. Despite the coronavirus pandemic, the company expects an operating profit for the year over the previous year. Numerous planned project sales in Europe and the US, including a 250MW wind farm in California, and international trade involving photovoltaic modules will both contribute to earnings development between now and the end of the year.