BayWa r.e. books operating loss as revenue plunges in Q1 2024
- Admin
- May 8, 2024
- 1 min read
German diversified group BayWa AG's renewable energy business faced a sharp revenue drop and swung to an operating loss in the first quarter of 2024 due to weak demand and decreased solar module prices. BayWa r.e. revenue dropped to EUR 904.2 million, with a loss of EUR 65.2 million before interest and tax. The company divested project rights of 230 MW and plans further project sales totaling 950 MW by the end of the year.
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