Romande Energie ended the first half of 2022 with a deficit of 46.1 million francs, compared with a net profit of 44.6 million a year earlier.
The energy company from Morges suffered in particular from its large indirect stake in its Lausanne counterpart Alpiq, in addition to the decline in its own hydropower production due to the lack of rainfall.
Turnover increased by 16% to 347.4 million francs and the operating result (Ebit) remained on the right side of the balance, however falling by almost a quarter to 24 .2 million, details the report released on Monday.
The hydraulic production deficit generated additional costs of around 16 million francs, in the form of forced purchases on a market at high prices. The difference between the prices set last year for the current year and those observed since the second half of 2021 also weighed in at 5 million.
The colossal net loss of 592 million unveiled at the end of August by Alpiq cost Romande Energie dearly, which owns nearly 30% of EOS, which in turn owns a third of Alpiq. Cleared of the effect of this participation, the Morges firm would have made a profit of some 23 million. Since the impact is attributed to accounting effects, the phenomenon must remain temporary.
Management is renewing its ambition to generate an Ebit slightly higher than that of 2021 over the current year, but this objective is conditional on the absence of bad economic, meteorological or geopolitical surprises.
/ATS