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

Energie AG generated sales revenues of EUR 4,251.1 million (previous year: EUR 3993.7 million) and an operating result of EUR 218.5 million (previous year: EUR 150.6 million) in the reporting period.

The increase in sales revenues was essentially attributable to higher revenues in the management of power plants, electricity procurement rights and gas portfolios as well as to price increases in electricity sales. In addition to the Energy Segment, increases in turnover were also achieved in all other segments.

The balance sheet total decreased by EUR 2,795.8 million from EUR 6,912.7 million to EUR 4,116.9 million. The decrease primarily resulted from lower fair values of derivative financial instruments and lower receivables due to collateral provided for derivative financial instruments.

The EBIT in the Energy Segment amounted to EUR 156.3 million in the reporting period (previous year: EUR 18.8 million). Higher contributions to earnings from the Group's own hydropower plants and from procurement rights for hydropower plants had a particularly positive effect. The operating result of the Sales business unit includes a one-off compensation payment to customers. An impairment in the amount of EUR 10.2 million was recognised for the Timelkam CCGT power plant in the reporting period due to changes in operating conditions.

In the Grid Segment, the operative result was EUR 31.9 million (previous year: EUR 45.3 million). Both the volume of electricity transported and the volume of gas transported were significantly lower than in the previous year.

The Waste Management Segment generated an EBIT of EUR 30.4 million (previous year: EUR 33.9 million). The decline was caused by lower prices for recycling materials and higher expenses due to inflation.

In the Czech Republic Segment, sales revenues of EUR 229.7 million (previous year: EUR 194.7 million) and an operating result in the amount of EUR 10.5 million (previous year: EUR 6.0 million) were generated in the reporting period. The higher operating result is primarily due to a reduction in expenses for primary energy in relation to sales revenues.

The operating result of the Holding & Services Segment amounted to EUR -10.6 million in the reporting period (previous year: EUR 46.6 million). The previous year's result included income of EUR 37.0 million from the spin-off of the “Fibre-to-the-Home” (FTTH) operational unit. Beyond this, lower results were generated by companies accounted for using the equity method in the 2022/2023 fiscal year.

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

2022/2023; previous year's figures in brackets

In the 2022/2023 fiscal year, investments in intangible assets and property, plant and equipment amounted to EUR 212.7 million, and were thus EUR 11.5 million above the previous year's level (EUR 201.2 million). With a share of 58.3%, the Grid Segment accounted for the largest part.

Net debt (non-current and current financial liabilities minus cash and cash equivalents, and adjusted for future margin payments) rose by EUR 5.1 million year-on-year from EUR 606.8 million to EUR 611.9 million. This increase is primarily attributable to a decrease in cash and cash equivalents.

Cash flow from operating activities in the 2022/2023 fiscal year was EUR -504.9 million, compared with EUR 1,136.5 million in the previous year. Cash flow from operating activities includes payments for derivative financial instruments in the amount of EUR 960.9 million and payments received for collateral for derivative financial instruments in the amount of EUR 324.4 million.

The financial result improved in the 2022/2023 fiscal year from EUR -28.7 million in the previous year to EUR -5.5 million. The higher interest expenses compared to the previous year were more than compensated for by higher earnings on interest, and higher earnings from investments and securities.