EVN: Significant decline in consolidated earnings – what does this mean for the future?

EVN: Significant decline in consolidated earnings – what does this mean for the future?

EVN has published its annual balance sheet for the 2022/23 financial year and shows a significant decline in consolidated profit to 471.7 million euros compared to 529.7 million euros in the previous year. The main reason for this is the significant price decline on the energy markets, especially in electricity and gas sales, which again recorded a loss of around 160 million euros. These developments are all the more remarkable since around two thirds of the result comes from investments in Austria and other countries, such as Lower Austrian news report.

Investments and future prospects

Despite the decline, EVN plans to make record investments of around 700 million euros annually in the coming years. EVN describes this as part of its Strategy 2030, which also provides for a high proportion of ecologically sustainable investments in accordance with the EU Taxonomy Regulation - over 87% of investments are therefore sustainable. In addition, the dividend of 0.52 euros per share, plus a special dividend of 0.62 euros, is proposed for the shareholders, so EVN.

In order to meet the challenges of the market-oriented environment, EVN is also focusing on the expansion of renewable energies, the share of which in electricity generation has increased to 77.0%. These measures are part of a comprehensive climate initiative that EVN is pushing forward with the aim of making its contribution to reducing greenhouse gas emissions and shaping a CO2-free energy future.