EEII AG Announces 2023 Annual Results and Strategic Shift

EEII AG disclosed its financial outcomes for 2023, highlighting a significant reduction in losses compared to the previous year. The company reported a loss of CHF 419,234 for 2023, which is a substantial decrease from the CHF 6,581,749 loss recorded in 2022. The results primarily reflected operating and restructuring expenses, amidst revenue challenges due to counter-sanctions affecting their holdings in Gazprom shares.

The company’s strategic realignment was evident as it moved away from its former focus on investments related to the Soviet Union, including the sale of its Gazprom shares to Gehold SA. This sale marks EEII AG’s exit from its previous investment era, coinciding with a leadership change. Victor L. Gnehm stepped down as Chairman, succeeded by Alexandre Uldry who is set to lead the company towards becoming a leading independent gas stations operator in Switzerland and Europe.