Annual Report 2024/25 Report Archive

Audit Certificate

Report on the Consolidated Financial Statements

Audit opinion

We have audited the Consolidated Financial Statements of Energie AG Oberösterreich, Linz, and its subsidiaries (the Group) comprising the Consolidated Statement of Income from 1 October 2024 to 30 September 2025, the Consolidated Statement of Comprehensive Income from 1 October 2024 to 30 September 2025, the Consolidated Statement of Financial Position as of 30 September 2025, the Consolidated Statement of Changes in Equity, and the Consolidated Cash Flow Statement for the fiscal year ending on that date, as well as the Notes to the Consolidated Financial Statements.

It is our opinion that the attached Consolidated Financial Statements comply with the statutory requirements and offer an adequately accurate representation of the asset and financial position of the Group as of 30 September 2025, as well as the Group's earnings position and cash flows during the fiscal year ending as of that date, in accordance with the IFRS Accounting Standards issued by the International Accounting Standards Board (IASB), as they are to be applied in the EU and the additional requirements stipulated in § 245a of the Austrian Commercial Code (UGB), the Electricity Industry and Organisation Act 2010, and the Gas Industry Act 2011.

Basis for our audit opinion

We have conducted our audit in accordance with the Austrian Principles of Proper Auditing of Financial Statements. These principles require the application of the International Standards on Auditing (ISA). Our responsibilities under these regulations and standards are set out in more detail in Section ‘Responsibilities of the Auditor in Auditing the Consolidated Financial Statements’ of the audit certificate. We are independent from the Group in compliance with the Austrian corporate law and professional regulation and have discharged our other professional duties in accordance with these requirements. We are of the opinion that the audit evidence obtained by us by the date of our audit certificate is sufficient and suitable for forming the basis for our audit opinion expressed as of that date.

Other disclosures

The legal representatives are responsible for the other required disclosures. The other disclosures encompass all information presented in the Annual Financial Report and Group Annual Report, with the exception of the Consolidated Financial Statements, the Group Management Report and the audit certificate. The Consolidated Non-financial Report was received by us prior to the date of this audit certificate, the other components of the Annual Financial Report and Group Annual Report are expected to be made available to us after that date.

Our audit opinion on the Consolidated Financial Statements does not extend to the other disclosures, which are excluded from the assurances given by our firm.

Our audit of the Consolidated Financial Statements comes with the responsibility to read and consider the other disclosures with the objective of determining whether the other disclosures contain significant discrepancies from the Consolidated Financial Statements and the insights gained in the course of our audit, or whether they are significantly misrepresented in another way.

If, based on the information received or work performed by us prior to the date of this audit certificate, we conclude that a material misstatement of the other information exists, we are required to report that fact. Our audit has not resulted in any reportable circumstances.

Responsibilities of the legal representatives and the Audit Committee for the Consolidated Financial Statements

The legal representatives are responsible for compiling the Consolidated Financial Statements in compliance with the IFRS Accounting Standards applicable in the EU and the additional requirements stipulated in § 245a of the Austrian Commercial Code (UGB), the Electricity Industry and Organisation Act 2010 and the Gas Industry Act 2011, and for assuring that they provide a true and fair view of the Group's assets, liabilities, financial position and profit or loss. The legal representatives are further responsible for the internal controls deemed necessary by them for preparing a set of Consolidated Financial Statements that is free from significant misrepresentations caused by fraud or human error.

In compiling the Consolidated Financial Statements, the legal representatives have the duty to form an opinion on the Group's ability to continue its business operations, to disclose any relevant circumstances relating to the continuation of the business operations and to base their considerations on the principle of continued business operations, unless they intend to liquidate the Group, cease business operations or find themselves in lack of any viable alternative to such course of action.

The Audit Committee is responsible for supervising the Group's accounting processes.

Responsibilities of the auditors for the audit of the Consolidated Financial Statements

Our objective is to assure an adequate degree of certainty on whether the Consolidated Financial Statements in their entirety are free from significant misrepresentations caused by fraud or human error, and to issue an audit certificate that reflects our audit findings. An adequate degree of certainty means a high degree of certainty, but is not an absolute guarantee that the audit conducted in accordance with the Austrian Principles of Proper Auditing, which require application of ISA, has in fact identified all significant misrepresentations that may be contained in the audited financial statements. Misrepresentations may result from malicious acts or misconceptions and are deemed significant if they could, individually or collectively, have a potential influence on the commercial decisions made by their readers on the basis of these Consolidated Financial Statements.

In conducting our audit in accordance with the Austrian Principles of Proper Auditing, which require application of ISA, we form our opinions on the basis of our professional judgement and maintain a critical view of the circumstances presented to us throughout the entire course of the audit.

We further adhere to the following:

  • We identify and assess the risks stemming from any significant misrepresentations in the Financial Statements caused by fraud or human error, plan our audit activities as a response to these risks, perform our audit activities and gain sufficient and suitable audit evidence to serve as the basis for our audit findings. The risk of significant misrepresentations resulting from malicious acts remaining undetected is higher than the risk resulting from misconceptions, because malicious acts may include collusion, fraudulent acts, forgery, intentional omissions, deceiving representations or the circumvention of internal controls.In order to plan audit activities that adequately address the prevailing circumstances, we gain an understanding of the Group's system of internal controls bearing relevance for our audit, but without the objective of forming an audit opinion on its effectiveness.
  • We evaluate the appropriateness of the accounting methods applied by the legal representatives, as well as the tenability of values estimated by the legal representatives and represented in the accounts and the disclosures associated with such estimates.
  • We draw inferences about the appropriateness of the legal representatives operating under the accounting principle of continued business operations, as well as, on the basis of the evidence presented to us for our audit, whether any events or circumstances are subject to a considerable uncertainty that would give rise to doubts about the viability of the Group continuing its business operations. If we arrive at the conclusion that a material uncertainty exists, we are obliged to draw attention to the associated disclosures contained in the Consolidated Financial Statements in our audit certificate, or to modify our audit certificate if these disclosures are inappropriate. We draw our conclusions on the basis of the audit evidence gathered by the date of our audit certificate. Future events or circumstances may however result in the Group resolving to discontinue its business operations.
  • We form an opinion on the overall presentation, structure and contents of the Consolidated Financial Statements including the disclosures therein, as well as on whether they present a true and fair view of the underlying business transactions and events.
  • We plan and perform the Group audit in order to obtain sufficient and appropriate audit evidence regarding the financial information of the entities or business units within the Group, which forms the basis for expressing an audit opinion on the Consolidated Financial Statements. We are responsible for directing, supervising and reviewing the audit work performed for the purposes of the Group audit. We bear the sole responsibility for our audit opinion.
  • We consult with the Audit Committee on matters such as the planned scope and timing of the audit as well as significant audit findings, including any significant defects in the system of internal control system detected during our audit.

Report on the Group Management Report

Austrian corporate law requires an assessment of whether the Group Management Report reconciles with the Consolidated Financial Statements and whether it was compiled in accordance with the applicable legal requirements.

The legal representatives are responsible for compiling the Group Management Report in compliance with the requirements under Austrian corporate law.

We have conducted our audit on the basis of the professional principles for the auditing of group management reports.

Audit opinion

We have formed the opinion that the Group Management Report complies with the applicable legal requirements and that it reconciles with the Consolidated Financial Statements.

Declaration

Our audit of the Consolidated Financial Statements and the understanding formed about the Group and its business environment has not identified any material misrepresentations in the Group Management Report.

Vienna

3 December 2025

Deloitte Audit Wirtschaftsprüfungs GmbH

Mag. Gerhard Marterbauer
Auditor

Mag. Gerhard Marterbauer, Auditor (signature)

The Consolidated Financial Statements with our audit certificate may only be published or disclosed in the format certified by us. This audit certificate refers exclusively to the full original Consolidated Financial Statements and the Group Management Report issued in German. The provisions of § 281 para 2 of the Austrian Commercial Code (UGB) must be observed for any other versions.