EVN AG Reports Solid Performance in First Three Quarters of 2023/24

EVN AG has demonstrated a robust business performance in the first three quarters of 2023/24, driven by a diversified business model. Revenue declined by 13.9% to €2,500.6 million, mainly due to lower wholesale prices for electricity and natural gas, and the reduced use of the Theiss power plant. Despite these challenges, EBITDA rose by 9.3% to €657.9 million, benefiting from increased renewable energy production and stable electricity tariffs in Lower Austria.

Renewable energy generation increased significantly, reaching 83.9%, up from 76.4% last year. The commissioning of new wind parks and a further natural filter plant in Obersulz highlighted EVN's commitment to sustainable energy. While thermal generation declined, the company aims to expand its wind power capacity to over 770 MW by 2030.

Internationally, EVN's environmental services saw progress with wastewater treatment projects in multiple countries. The completion and successful test run of a wastewater plant in Kuwait marked a significant milestone. Investments in water supplies focused on enhancing supply security through new transport pipelines.

EVN's solid capital structure supports an annual investment program of €700-900 million, primarily in network infrastructure and renewable generation. Despite a decrease in revenue, the overall financial results were positive, with a group net result of €479.6 million, marking a 14.5% year-on-year increase. EVN maintains its net debt at €1,134.7 million as of June 30, 2024.

For the full fiscal year, EVN expects a group net result at the upper part of the previously communicated range of €420-460 million, assuming a stable regulatory and energy policy environment. The dividend per share is anticipated to be at least €0.82.