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

In the first half of the 2023/2024 fiscal year, the Energie AG Group generated sales revenues in the amount of EUR 1,935.4 million (previous year: EUR 2,636.9 million). The decrease in sales revenues above all related to the Energy Segment and was largely attributable to stagnating development in electricity and gas sales revenues as well as declines in the management of gas storage facilities and the electricity portfolio.

The operating result (EBIT) rose by EUR 87.8 million from EUR 55.8 million in the first half of 2022/2023 to EUR 143.6 million in the reporting period. The increase in the operating result particularly relates to the Energy Segment.

Due to the higher generation volumes from proprietary hydropower plants and procurement rights from hydroelectric power compared to the same period of the previous year, accompanied by higher marketing prices for generated electricity, the Energy Segment recorded an increase in operating earnings in sales from EUR 17.2 million in the first half of the 2022/2023 fiscal year to EUR 87.3 million in the reporting period despite declining sales volumes and prices.

The Grid Segment generated sales revenues of EUR 225.4 million (previous year: EUR 238.3 million) and an EBIT of EUR 20.2 million (previous year: EUR 26.6 million). The decrease in the operating result is mainly attributable to lower transported electricity and gas volumes and higher personnel costs.

In the Waste Management Segment, higher metal and waste paper sales, and higher district heating and electricity revenues were responsible for the increase in earnings from EUR 21.2 million in the first half of 2022/2023 to EUR 22.0 million in the reporting period.

In the Czech Republic Segment, an EBIT in the amount of EUR 7.8 million was generated (previous year: EUR 4.8 million). The higher operating result is mainly attributable to lower costs for the procurement of electricity and gas in the reporting period compared with the 2022/2023 fiscal year.

The Holding & Services Segment recorded an EBIT of EUR 6.3 million in the first half of 2023/2024 (previous year: EUR -14.0 million). The increase in the operating result is primarily due to the higher earnings contributions of entities accounted for using the equity method in the reporting period compared to the same period of the previous year, as well as to the sale of property.

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

1st HY 2023/2024; previous year’s figures in brackets

In the reporting period, investments in intangible assets and property, plant and equipment amounted to EUR 103.4 million (previous year: EUR 70.7 million). With a share of 50.4%, the Grid Segment accounted for the largest part.

The financial result amounted to EUR -5.9 million in the reporting period (previous year: EUR -7.3 million). This development is mainly attributable to positive measurement results for shares in investment funds.

In the first half of 2023/2024, short- and long-term financial liabilities were reduced by EUR 25.7 million to EUR 612.7 million compared with the reporting date of 30 September 2023 (figures as of 31 March 2024). Due to the maturity of the 2005 – 2025 bond in the amount of EUR 300.0 million in March 2025, it is now reported under current financial liabilities.

Cash flow from operating activities improved to EUR -7.9 million in the reporting period, compared with EUR -640.0 million in the previous year. The increase is mainly due to significantly lower payments from hedging transactions compared with the previous year.