EVN reports a decline: profit drops by almost 20 percent in the first quarter!

EVN reports a decline: profit drops by almost 20 percent in the first quarter!

Baden, Österreich - A worrying decline in EVN, the Lower Austrian energy supplier! In the first quarter of the 2024/25 financial year, the company recorded a decline in sales from 1.3 percent to 804.1 million euros. This development is largely due to falling income from the sale of renewable electricity. Like nön.at reported (ebit) 166.2 million euros, during the net profit by alarming 19.7 percent to 115.5 million euros.

Personnel expansion despite financial setbacks

Regardless of these financial losses, EVN has increased the staff by 250 positions, which now corresponds to a total of 7695 employees. The personnel expenditure rose to 115.4 million euros. It should be noted that the other company expenses were reduced by an impressive 42.4 percent to 41.4 million euros, primarily due to a adjustment of value combined with the Budva project in Montenegro in the previous year, which had burdened the result at the time.

However, the development is not just a current challenge. The EBITDA fell 6.0 percent to 253.1 million euros. Nevertheless, EVN expects an annual profit between 400 and 440 million euros for the current financial year. Despite the problems, the dividend policy remains stable, with a confirmed distribution of at least 0.82 euros per share for the financial years from 2024/25. The company is planning annual investments of around 900 million euros annual by 2030, whereby a large part of the infrastructure for renewable energies and the e-charging infrastructure is to flow, reports krone.at .