Czech Republic Segment

Framework conditions in the Czech Republic ¹⁾

The Czech Republic recorded higher economic growth in the 2024/25 fiscal year than in previous years. In the second quarter of the 2025 calendar year, GDP increased by 2.6% compared to the same period in the previous year. Inflation declined marginally over the reporting period, and was at around 2.3% towards the end of the fiscal year. The unemployment rate was 4.5% towards the end of the 2024/25 fiscal year.

In the 2024/25 fiscal year, economic developments, the national political landscape and market conditions all remained broadly stable. Energy prices have stabilised at a solid level since the 2023/24 fiscal year. Electricity procurement for the Czech Republic segment is carried out on the basis of the purchasing strategy agreed with Energie AG Oberösterreich Trading GmbH.

The Czech koruna appreciated slightly against the euro over the period. The exchange rate ratio was EUR/CZK 24.91 at the end of the 2024/25 fiscal year (previous year: EUR/CZK 24.96).

Business development in the Czech Republic Segment

In the 2024/25 fiscal year, the Czech Republic Segment generated sales revenues of EUR 248.1 million. This is equivalent to an increase of 5.5% on the previous year (235.1 million). The main drivers of this development were price adjustments during the reporting period, increased sales revenues in the Drinking Water and Waste Water business unit and increased sales volumes in the heat sector.

The EBIT in the Czech Republic Segment amounted to EUR 13.7 million in the reporting period. This is equivalent to an increase of 20.2% (previous year: EUR 11.4 million), which is mainly attributable to an increase in sales volumes in the heating sector and higher earning contributions in the drinking water and waste water sector. Beyond this, not having the previous year's exposure due to flood damage had a positive impact on the operating result.

Stable volume development in the Czech Republic

In the Czech Republic Segment, a total of 49.7 million m³ of drinking water and 45.6 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.

All major tenders for drinking water and operating contracts in the field of drinking water and waste water in the reporting period were won. The most significant contract extensions were in the cities Polička and Moravská Třebová. In addition, the concession contract with the VHS Kolín water authority, which comprises a total of 13 municipalities, was successfully concluded. This is the largest drinking water contract of Energie AG Kolín a.s.

In the 2024/25 fiscal year, the energy efficiency programs that started in the 2022/23 fiscal year were consistently pursued and further advanced. In Horní Planá, the tender for the management of the district heating supply was won for a five-year contract period, with heat of up to 3.2 GWh/a produced from green biomass.

A 300 kW biomass boiler was built in Dobříš, further advancing the gradual switch of the district heating supply from gas to renewable fuels. The new installation is expected to be operational by the end of the 2025 calendar year.

In addition, a pilot project for the expansion of the charging infrastructure of Czech subsidiaries was launched in cooperation with Vertrieb GmbH. In Kolín, an energy community has been launched to use electricity generated by company-owned PV systems at other sites. At RATE s.r.o., digital heat billing has been driven forward, with the implementation of digitalising an end-to-end process from smart meter measurement to invoicing already at 50.0%.

The heat sales volume in the Czech Republic amounted to 214 GWh in the reporting period; this is 14.4% above the previous year's figure (187 GWh) due to a slightly colder winter and new customer connections, in Horní Planá for example.