Wien Energie - record profit in the corona year

Despite the corona crisis, Wien Energie set a profit record last year. Operationally, one earned two thirds more in what was ultimately a very favorable energy sector. The annual surplus rose by almost four fifths to 360 million euros, and sales climbed by one sixth to 1,95 billion euros. Heat production and electricity sales stagnated, but gas sales and electricity generation fell.

"The dent was not very lasting," said Wien Energie boss Michael Strebl happily on Tuesday - unlike what was feared a year ago in the first lockdown for 2020. Rapidly recovering gas and electricity wholesale prices as well as CO2 prices have helped. Various special and valuation effects, for example for power plants, are also included in the good results, but some of them are only one-time. Strebl put these favorable ratings at just under 100 million euros in an online press conference.

With end customers, declines between five and six percent in electricity and gas have been recorded, less than originally feared, said Strebl. As Austria's largest regional energy provider, the Wiener-Stadtwerke subsidiary supplies two million people and 230.000 commercial and industrial facilities in and around Vienna with electricity, natural gas, heating, district cooling and energy services.

More gas sales

Revenues rose by 16,1 percent to 1,948 billion euros - primarily due to higher revenues from gas sales, while electricity revenues declined due to fewer congestion management calls. The heating revenues fell due to the lower gas prices and the related district heating tariffs. If one had still accounted for according to the Austrian Commercial Code (UGB), according to Strebl, sales including Wien Energie Vertrieb, which is not included in accordance with IFRS, would have been 600 million higher, at around 2,5 billion euros.

The operating result (EBIT) rose by 64,8 percent to 385,0 million euros, thanks to a slightly less negative financial result of -21,6 (-30,7) million euros, the pre-tax result rose by 79,1 percent 363,5 million euros, and the annual surplus climbed by 77,8 percent to 360,0 million euros.

With the “best result from Wien Energie that we have ever delivered”, one is “well equipped” for the upcoming investments, especially in the air conditioning sector. A total of 1,25 billion euros are to be invested over the next five years, and more than a billion euros are being taken into account for climate protection alone.

Expand wind power

Wien Energie is already Austria's largest PV power producer, but wants to continue growing here, as is the case with wind power. According to managing director Karl Gruber, the company wants to increase the installed photovoltaic capacity to 2030 megawatts (MW) by 600. At the end of 2020 it was 60 MW, currently it should be 72 MW. Hydropower is also being sought, if that is still possible.

Wien Energie GmbH's electricity sales stagnated last year at 9.453 gigawatt hours (GWh), an increase of 0,3 percent, while sales of gas fell by 4,5 percent to 5.392 GWh, and sales of heating rose by 1,9 percent to 5.960 GWh. Overall, sales fell by 0,6 percent to 20.804 GWh.

The generation (also including participations with significant influence) shrank in electricity by 7,4 percent to 6.850 GWh and increased in heat by 2,3 percent to 5.394 GWh. The total generation thus decreased by 3,4 percent to 12.244 GWh. (apa)