Assets, liabilities, financial position and profit or loss ¹⁾

The 2020/2021 fiscal year was shaped by the global COVID-19 pandemic, economic recovery and rising energy prices. Sales revenues of EUR 2,145.2 million (previous year: EUR 1,843.7 million) and an operating result of EUR 188.4 million (previous year: EUR 147.7 million) were generated in the reporting period.

The increase in sales revenues was mainly due to the higher level of wholesale prices for electricity and gas, which led to higher revenue in the management of power plants and electricity procurement rights, in energy trading and in sales. In addition to the Energy Segment, increases in turnover were also achieved in all other segments.

The balance sheet total increased by EUR 795.7 million from EUR 3,079.7 million to EUR 3,875.4 million. The increase is mainly due to higher fair values of derivative financial instruments. In addition, there is a higher amount of cash and cash equivalents and emission certificates as of 30 September 2021.

The EBIT in the Energy Segment amounted to EUR 82.4 million in the reporting period (previous year: EUR 59.5 million). The increase included higher earnings contributions from the Generation unit. Reversals of impairment were recognised for the Timelkam CCGT power plant and for the planned construction of the Ebensee pumped-storage power plant, and a provision was recognised for onerous contracts in the context of the 7Fields gas reservoir.

In the Grid Segment, the operative result was EUR 37.2 million; it was therefore at about the same level as in the previous year (EUR 36.9 million).

The Waste Management Segment generated an EBIT of EUR 29.6 million (previous year: EUR 27.1 million). The operating result was positively impacted by price increases for recycling materials (paper and metals) as well as a higher electricity price and market effects. In the 2020/2021 fiscal year, reversals of impairment for waste incineration plants amounting to some EUR 4.7 million were also made.

In the Czech Republic Segment, sales revenues of EUR 173.2 million (previous year: EUR 160.5 million) and an operating result in the amount of EUR 11.1 million (previous year: EUR 9.8 million) were generated in the reporting period.

The operating result of the Holding & Services Segment was EUR 28.1 million in the reporting period (previous year: EUR 14.4 million), an increase of EUR 13.7 million on the previous year. In the 2020/2021 fiscal year, an impairment reversal of EUR 15.4 million was recorded for Wels Strom GmbH, which is valued at equity.

Investments in intangible assets and property, plant and equipment by Segments

2020/2021; previous year's figures in brackets

In the 2020/2021 fiscal year, investments in intangible assets and property, plant and equipment amounted to EUR 215.1 million, and were thus EUR 17.9 million or 9.1% above the previous year's level. With a share of 48.2%, the Grid Segment accounted for the largest part. Investments in the Holding & Services Segment include expanding the fibre-optic cable network.

Net debt (non-current and current financial liabilities minus cash and cash equivalents) fell by EUR 100.4 million year-on-year from EUR 551.3 million to EUR 450.9 million. This decrease is mainly due to an improved liquidity situation.

Cash flow from operating activities in the 2020/2021 fiscal year was EUR 378.7 million, compared with EUR 185.8 million in the previous year.

The financial result improved from EUR -20.7 million in the previous year to EUR -20.1 million in the 2020/2021 fiscal year. The higher interest expenses compared to the previous year were more than compensated for by earnings from investments and securities.