|
|
Unit |
|
1st HY |
|
1st HY |
|
Change |
|---|---|---|---|---|---|---|---|---|
Total sales |
|
EUR mill. |
|
99.0 |
|
86.6 |
|
14.3% |
EBIT |
|
EUR mill. |
|
6.4 |
|
6.9 |
|
-7.2% |
Investments in property, plant and equipment |
|
EUR mill. |
|
2.6 |
|
2.5 |
|
4.0% |
Workforce (on average) |
|
FTE |
|
1,712 |
|
1,715 |
|
-0.2% |
Invoiced drinking water volume |
|
m3 mill. |
|
24.5 |
|
24.0 |
|
2.1% |
Invoiced waste water volume |
|
m3 mill. |
|
22.7 |
|
22.7 |
|
0.0% |
General conditions in the Czech Republic
The COVID-19 situation in the Czech Republic increasingly eased in the first half of the 2021/2022 fiscal year. Following this, the Czech government rescinded most of the measures to prevent the further spread of the COVID-19 pandemic.
Although this had a positive effect on the economic development of the country, the generally difficult conditions on the energy market and the Russia-Ukraine war on top had a negative impact on the economy. Also, a noticeable increase in inflation was evident in the Czech Republic in the reporting period.
In recent months, the energy crisis with sharply rising market prices has exposed trading companies for electricity and gas in particular to massive pressure, ultimately triggering insolvencies and the departure of numerous market participants from this sector. This has led to further massive price increases for energy customers who now have to procure replacements at high prices on the spot market – in part for volumes that had already been secured. High gas prices were particularly relevant for the heating business of Energie AG's Czech Republic Segment, as a large proportion of heat is generated by gas-fired boilers and combined heat and power plants. In the case of water supply and waste water management, higher market prices impacted on electricity expenses for water and waste water treatment and allocation.
The Czech koruna steadily strengthened against the euro in the first half of the 2021/2022 fiscal year; the exchange rate was around EUR/CZK 24.4 towards the end of the reporting period.
Business development in the Czech Republic Segment
In the first half of the 2021/2022 fiscal year, the Czech Republic Segment generated sales revenues of EUR 99.0 million in its water and heating business. This was equivalent to an increase of 14.3% compared with the same period in the previous year and was attributable to exchange rate effects, price increases and services.
The EBIT in the Czech Republic Segment amounted to EUR 6.4 million in the reporting period. This is equivalent to a decrease of 7.2% (previous year: EUR 6.9 million) and is attributable, in part, to a significant increase in energy consumption in the water and heat sectors and to the difficult economic environment in general.
Stable volume development in the Czech Republic
In the Czech Republic Segment, a total of 24.5 million m3 of drinking water and 22.7 million m3 of waste water were invoiced in the reporting period.
Invoiced drinking water volume
in m3 mill.
Invoiced waste water volume
in m3 mill.
In total, this corresponds to slightly higher volumes in drinking water and waste water business, although developments varied from region to region.
The heat sales volume in the Czech Republic amounted to 132 GWh in the reporting period, which is 5.7% below the previous year's figure (140 GWh) due to the mild winter.
In organisational terms, the focus in the Czech Republic Segment during the reporting period was on the further integration of the entities Energie AG Teplo Rokycany s.r.o and Tepelné zásobování Rakovník, spol. s.r.o. into Energie AG Teplo Bohemia s.r.o.
Additionally, 100% of the shares in RATE s.r.o. were acquired on 3 January 2022. The company, which employs a staff of 23, is headquartered 80 km north of Prague and uses industrial waste heat from the paper industry to supply heat and hot water to approximately 10,000 inhabitants of the town of Štětí and surrounding communities.