+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

BayWa ends the financial year 2019 on a successful note

News

The financial year 2019, revenues at BayWa AG, Munich, Germany, increased to €17.1 billion (2018: €16.6 billion), thereby exceeding the mark of €17 billion for the first time. As planned, the company also generated a significant improvement in earnings, with EBIT rising to €188.4 million (2018: €172.4 million). BayWa therefore achieved its targets for the year and plans to increase the dividend by 5 cents to 95 cents per share for 2019.

“The positive development in the Energy Segment made the largest contribution to BayWa’s good overall development in the past year. Global Produce – our fruit business – was also successful, and Agricultural Equipment developed significantly better than expected even following the record year seen in 2018. Building Materials also put on a show of strength,” said Klaus Josef Lutz, Chief Executive Officer of BayWa AG. All told, agricultural trade activities fell short of expectations, he added. International trade disputes negatively impacted earnings, as did the dry conditions in many regions of Germany over the summer. “In particular, the renewed increase in earnings in the renewable energy and conventional energy business more than compensated for the effects resulting from the difficult market conditions in agriculture,” Lutz explained. He also pointed out that the burdens related to the antitrust proceedings, which were concluded at the end of the year, and the associated costs had been included in the annual result without jeopardising the efforts to achieve the targets for 2019.
At present, it is not possible to make a serious assessment of the results for 2020 due to the incalculable effects of the Covid-19 crisis. “Thanks to our diversified business model, however, we believe that we are well positioned despite the difficult situation, plus we are absolutely determined to deliver on our mission of helping people to meet their basic needs,” Klaus Josef Lutz said.

Energy Segment outperforms expectations once again
The Energy Segment increased its revenues to €4.47 billion in 2019 (2018: €4.0 billion) and raised its EBIT to €127.4 million (2018: €96.0 million). The segment therefore set a new record and significantly outperformed the expectations.
In the Renewable Energies business unit, all activities developed very successfully. With a total output of 911.6 megawatts (MW) (2018: 453 MW), sales of wind farms and solar parks doubled year on year. Trade in photovoltaic components increased by a good 70% to 927.0 megawatt-peak, driven primarily by the improvement in competitiveness due to falling production costs for modules and the acquisition of a Canadian solar trader. The service business also continued to grow, with global plant capacity under management rising to 8.3 gigawatts (GW) (2018: 5.7 GW).
Likewise, the Conventional Energy business unit posted very positive development. Sales volumes of heating oil increased, as did the sale of wood pellets, which benefited from low prices and the partnership with WUN Pellets GmbH, a producer of wood pellets. Lower heating oil prices and customers looking from autumn 2019 to stock up on fuel on account of the German federal government’s climate package were the drivers of earnings in this business unit.
Agriculture: development varied in the business units.

Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: