Half-year results – EVN increased sales and profit

The listed Lower Austrian energy and drinking water supplier recorded a positive half-year balance in the first half of 2020/21. EVN, which has been listed in the ATX again since March, has achieved more profits and sales. The group result rose by 15.3 percent to 176.0 million euros.

EBITDA in the first half of the year was EUR 535.8 million, 37.8 percent above the previous year’s figure. EBIT rose by 10.3 percent to EUR 254.5 million. Sales rose by 7.6 percent to 1.285 billion euros. This was mainly due to the international project business and the wastewater project that started in Kuwait in summer 2020. There was also growth in network operation – in addition to the cooler weather in all three core markets, the higher network usage fees set by E-Control in Austria on January 1, 2021, had an impact. This was counteracted by lower valuation effects from hedging transactions for electricity generation and lower sales revenues from natural gas trading.

Pandemic made international business difficult

Thanks to the integrated business model and broad customer diversification, the Covid 19 pandemic has so far only had a selective impact on business and earnings development, according to EVN. However, national lockdowns, travel restrictions and disruptions to international supply chains made international project business more difficult.

Electricity generation by EVN fell by 3.1 percent to 2,079 gigawatt hours (GWh), of which 1,112 GWh (previous year: 1,155 GWh) was attributable to renewable energies. The share of renewables was 53.5 (53.8) percent. Electricity generation in the thermal power plants fell by 2.4 percent to 968 GWh due to a lower number of calls from the Theiss power plant to stabilize the grid. In the international project business, EVN received a new order worth around EUR 12 million in Romania in February 2021.

A biomass combined heat and power plant is built in Krems

The construction of a biomass combined heat and power plant in Krems is seen as one of the highlights of the past six months. This means that green electricity can be generated for 15,000 households and natural heat for up to 30,000 households. The 40 million euro project is running.

Investments in power grids and drinking water supply

EVN intends to invest heavily in the coming years, especially in Lower Austria. A total of 450 million euros in annual investments are planned across Austria. Three quarters of them in Lower Austria. In total, that’s one billion euros over the next three years. The largest chunk of this is the reinforcement of the networks. In addition, the electricity supplier wants to create the basis for the expansion of renewable energies. The main focus here is on wind and photovoltaics. Projects are also underway to ensure the supply of drinking water throughout the country. In Dürnrohr in the Tulln district – as in Germany – sewage sludge processing plants are also being built.

800,000 electricity meters are exchanged

The EVN employees are also currently busy switching to digital electricity meters, the so-called smart meters. There should be 300,000 of them nationwide before summer. A total of 800,000 must be installed.

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