Depreciation of €222 million pushes Baywa's result to zero

The Munich-based group generated significantly lower sales in the first half of the year. In addition, it had to make large write-downs, particularly in its renewable energy business. Unscheduled write-downs heavily burdened Baywa AG's consolidated half-year results published on Friday. In July, the Munich-based group's share price more than halved after commissioning a restructuring report and it has since only recovered slightly from the slump. The financial statement show that Baywa generated sales of €10. 7 billion ($11. 97 billion) in the first six months of this year, almost €2 billion ...

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