LINZ. Despite the corona crisis, Energie AG was able to post a plus in its balance sheet for the 2020 financial year. The groundbreaking ceremony for an extension to the PowerTower also took place.
“From October 2019 to February we were doing very well,” said Energie AG director general Werner Steinecker. But then Corona came. “Corona cost us 20 million euros.” “Electricity consumption in Austria has fallen by ten to 15 percent,” said CEO Andreas Kolar. Especially with bulk buyers, consumption has fallen to an all-time low with the crisis. But: Part of it – around seven million euros – could be made up for. “We are very proud that we reacted very quickly,” said Steinecker. He also attributes this to good preparation: “In 2012, we filed a crisis scenario for the first time that is called ‘pandemic’.”
Group result doubled
“Despite these two different half-years, we managed to achieve a respectable result,” Kolar is pleased. Overall, group sales even increased. In the past financial year, the Energie AG Group generated sales of 1,843.7 million euros (previous year: 1,813.4 million euros). The main reason for the increase in sales was that, for the first time after the bundling of sales, it was possible to draw a balance sheet for an entire financial year. The group result even doubled to 147.7 million euros (previous year: 73.0 million euros). It should be noted, however, that the business result of the previous year was significantly influenced by two special effects – including the impairment of network systems by 109.3 million euros.
Dry April, wet September
Energie AG also coped well with the extreme weather of 2020. April 2020 was extremely dry. Unfavorable for the production of electricity from hydropower, but: “The record month for photovoltaics”, says CEO Stefan Stallinger. A plus of 40 percent was recorded in April. In addition, the decline in hydropower was compensated for over the year. “September was rather wet. Overall, it was an average water year, ”Stallinger sums up.
Stabiles A-Rating
Investments in the 2020 financial year totaled 197.2 million euros, 7.5 percent below the previous year. The largest share of this came from the Network segment (48 percent) and the Holding & Services segment (28 percent), which includes the smart meter rollout and the expansion of the fiber optic network.“Our homework has been done. We are looking to the future with great optimism. ”The creditworthiness of the Energie AG Group was once again confirmed in 2020 by Standard & Poor’s with the seal of approval“ A with stable outlook ”. Another future project is the extension to the company headquarters in Linz. (More under www.tips.at/n/523450)
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