There are weather-related fluctuations in sales revenues and results within the fiscal year particularly as regards electricity generated, electricity sales and the gas business. Higher results tend to be achieved in the first half of the year than in the second half in the Energy Segment. Limited construction activity in the autumn and winter months means that investments in property, plant and equipment are generally lower in the first half of the year than in the second half. The hydro coefficient in the first half of the year came to 1.27 (previous year: 1.03).
The additions to property, plant and equipment in the first half of the 2023/2024 fiscal year amount to EUR 100.7 million (previous year: EUR 68.6 million), with disposals at carrying amount of EUR 1.6 million (previous year: EUR 2.2 million). Obligations for the acquisition of property, plant and equipment amount to EUR 306.1 million (previous year: EUR 73.3 million).
Volatile prices for electricity and gas led to high cash flows from derivative financial instruments in the reporting period and in the previous year. The Cash Flow Statement includes current cash outflows for hedging transactions in the amount of EUR -170.3 million (previous year: cash outflows of EUR -877.2 million) as well as payment inflows from collateral no longer required to be deposited for stock exchange transactions of EUR 37.8 million (previous year: payment inflows of EUR 289.3 million).
In the Energy Segment, provisions were set aside for electricity utilisation in the amount of EUR 31.0 million. In the comparable period of the previous year, a total of EUR 20.5 million was allocated to provisions for settlement payments to customers. Other operating expenses include expenses for the Energy Crisis Contribution levy on electricity in the amount of EUR 31.4 million (previous year: EUR 0.3 million).
In the first half of 2023/2024, dividends of EUR 53.2 million (previous year: EUR 53.2 million) were paid out to the shareholders of Energie AG Oberösterreich.
Linz, 29 May 2024
The Management Board of Energie AG Oberösterreich
Dr. Leonhard Schitter
CEO
Dr. Andreas Kolar
CFO