Innogy Energie, which is part of the group, reported a 35 percent decrease in net profit to 1.34 billion crowns. This was caused by a sharp rise in the purchase prices of electricity and gas, which reduced margins on the sale of both commodities to end customers. The Economic Daily drew attention to the results of the company innogy Energie on Wednesday.
According to Innoga chairman Tomas Varcop, the group had to deal with rising energy prices, among other things.
“At the beginning of the year, energy prices rose slowly, but by the middle of the year they had doubled and since September we have witnessed absolutely unprecedented growth. In view of all the challenging challenges, the overall year 2021 can be assessed as a successful and the economic result at the level of expectations as very good, “said Varcop in the annual report.
This year, Innogy wants to eliminate the effects of the energy crisis on this year’s financial results. The annual report, published on Thursday, also addresses the Russian invasion of Ukraine, mentioning, among other things, European sanctions against Russia and the threat of halting gas supplies.
“It cannot be ruled out that one of the consequences of this development could be the suspension of natural gas supplies from Russia to Europe, even if it would have negative effects on both sides. Should this situation occur, it could have significant negative effects on the company’s finances and possibly the value of its assets or liabilities, which, however, cannot be quantified at this time, “said Innogy.
In 2021, Innogy Energie sold over 30 million megawatt-hours (MWh) of natural gas to its end customers, a year-on-year increase of 11 percent. Electricity sales rose 19 percent to four million megawatt-hours.
This was influenced, among other things, by the fall of the supplier Bohemia Energy. In the case of innogy Energie, there were more than 200,000 gas customers, and the company won tens of thousands of new contracts.