BayWa expects important progress within the renewable power unit in 2021
March 29 (Renewables Now) – Various German group BayWa AG (ETR: BYW6) has proven resilience within the coronavirus disaster, posting a 14.2% year-over-year enhance in revenue final week earlier than curiosity and taxes (EBIT) 2020, with all segments contributing to progress.
Within the renewable power sector, EBIT elevated 9.8% to 110.9 million euros ($ 130.8 million), whereas revenues elevated 26.6% to 2.5 billion euros, pushed by mission exercise and photo voltaic buying and selling. Each income and EBIT are anticipated to point out important additional progress in 2021. The present 12 months would be the first to incorporate income from an impartial energy producer (IPP) enterprise, as BayWa plans to independently function some 600 MW of photo voltaic and wind farms by the tip of the 12 months. .
In 2020, the corporate offered wind and photo voltaic farms totaling 667 MW, with the share of turnkey tasks rising to 94% from 37% in 2019, when mission output was 911.6 MW. The commerce in photovoltaic (PV) parts once more noticed double-digit progress to over 1 GW, the corporate mentioned.
“The worldwide enlargement of renewable power is a megatrend that continues unabated,” commented CEO Klaus Josef. “Renewable energies will proceed to be a pillar of our success within the present fiscal 12 months,” mentioned the CEO. The renewable energies exercise has a pipeline of tasks for 2021 of 1.1 GW.
The group’s complete EBIT in 2020 reached 215.2 million euros. Turnover elevated barely by 0.6% to 17.2 billion euros.
(1.0 EUR = 1.179 USD)