Energie AG: More sales, slump in earnings

2023-06-29 02:59:00

According to the broadcast, the reasons are the price distortions on the national and international energy markets. In the Energy segment alone, sales increased by 19.4 percent to EUR 2.04 billion. The reason for this is the significantly higher wholesale prices for electricity and gas, which led to sales increases in the management of gas storage facilities and in electricity and gas sales.

However, the energy supplier recorded a 67.1 percent slump in the operating result (EBIT) to 55.8 million euros. In the energy segment, EBIT fell by 63.3 percent to EUR 17.2 million. The reasons given are declines in the management of the electricity portfolio and lower earnings contributions from the thermal power plants. In the network segment, there was a decline of one third to 26.6 million euros.

Investments increased by 15 percent to 70.7 million euros. The money flowed into power grid and generation projects in the areas of water, wind, photovoltaics and biomass.

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