DGAP-Information: EVN AG / Vital phrase(s): 50 {14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} Yr Final results
27.05.2021 / 07:30
The issuer is only dependable for the content material of this announcement.
Highlights
– Favourable business enterprise development supports advancement in income, EBIT and Team internet end result
– Temperature-similar higher power demand in Austria, Bulgaria and North Macedonia
– 376 MW of put in wind power potential as of 31 March 2021
– Development on a biomass blended warmth and electric power plant in Krems eco-friendly electricity for 15,000 households and natural heat for up to 30,000 households
– Commissioning of the fifth pure filter plant in Petronell-Carnuntum scheduled for winter 2021/22
– New common contractor assignment for the modernisation of a ingesting drinking water cure plant in Romania
– EVN returns to the ATX
Critical results
– Income: +7.6{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 1,284.8m
– EBIT: +10.3{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 254.5m
– Team web end result: +15.3{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 176.0m
– Net financial debt: EUR 929.9m (30 September 2020: EUR 1,037.7m)
Results of the Covid-19 pandemic
Thanks to EVN’s integrated enterprise design and wide purchaser diversification, the Covid-19 pandemic has had only a constrained outcome on the enhancement of business enterprise and earnings to date. Delays on design tasks and investments in the Networks Phase were being recovered in part throughout the very first half of 2020/21. Having said that, the international undertaking company has been difficult by nationwide lockdowns, journey restrictions and interruptions in worldwide provide chains.
Power sector natural environment
The to start with 50 {14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} of 2020/21 introduced a year-on-calendar year decline in temperatures in EVN’s a few main markets in Austria, the temperature-connected electricity demand also exceeded the prolonged-expression ordinary. The marketplaces were characterised by climbing rates for base load and peak load energy, normal gas and CO2 emission certificates in the course of the reporting interval.
Profits, EBIT and Team web consequence previously mentioned past calendar year
Profits recorded by the EVN Group rose by 7.6{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 1,284.8m in the initially 50 percent of 2020/21. This advancement was supported, largely, by the international task small business and, in this relationship, the wastewater cure plant challenge in Kuwait which started out in summer season 2020. Community gross sales also improved all through the reporting interval, whereby good elements included the cooler weather conditions in all three core markets and the higher network tariffs established by E-Management in Austria as of 1 January 2021. Contrary factors have been reduced outcomes from the valuation of hedges for electrical energy era and a decrease in profits from all-natural gas investing.
Other functioning money rose to EUR 165.5m (earlier calendar year: EUR 41.9m), principally owing to the consequences from the takeover of an more electrical energy procurement ideal. The value of electric power purchases from 3rd parties and primary electricity expenses elevated by 2.4{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 568.7m, when a decrease in earnings from natural fuel trading led to a reduction of the connected prices.
Developments in the global venture small business were being accountable for an maximize of 81.4{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} in the expense of elements and services to EUR 240.8m. Personnel expenditures were 4.1{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} greater yr-on-year at EUR 176.9m. In addition to adjustments required by collective bargaining agreements, this enhance resulted, amid other people, from extra using the services of for the wastewater treatment plant challenge in Kuwait.
The share of effects from fairness accounted investees with operational mother nature elevated to EUR 127.3m (previous yr: EUR 61.2m), principally thanks to an advancement in running earnings and adjustments in the valuation results from hedges held by EVN KG. In addition to increased earnings contributions from RAG and Energie Burgenland, the improvement was supported by a revaluation of EUR 9.6m to the Ashta hydropower plant based on a reduction of the country chance top quality. EBITDA recorded by the EVN Team rose by 37.8{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} year-on-calendar year to EUR 535.8m in the first 50 percent of 2020/21.
Scheduled depreciation and amortisation increased by 17.2{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 168.2m owing to the significant level of financial commitment and the amortisation of capitalised commence-up costs for the task in Kuwait. In link with the takeover of an extra electrical power procurement proper, impairment losses totalling EUR 113.1m were being recognised to a thermal electrical power plant. EBIT elevated by 10.3{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR 254.5m in the to start with 50 {14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} of 2020/21.
Financial effects enhanced by 27.8{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to EUR -21.0m supported, in distinct, by greater functionality of the R 138 fund. Group net result for the interval equalled EUR 176.0m, which represents an maximize of 15.3{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} above the past yr.
Stable harmony sheet construction
EVN has a strong and stable funds construction which will provide a good basis around the coming several years for the realisation of the in depth financial investment programme in the parts of supply safety, a CO2-no cost electrical power long term and consuming drinking water supplies. Net credit card debt remained continual at roughly EUR 1 bn.
Electrical power. H2o. Daily life. – Developments in the power and environmental providers business enterprise
Electricity organization
Electric power technology diminished by 3.1{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to 2,079 GWh in the initial half of 2020/21. Renewable era amounted to 1,112 GWh (past year: 1,155 GWh). The share of renewable era equalled 53.5{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} in the course of the reporting period (former year: 53.8{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641}). Wind flows fell significantly under the past calendar year and long-time period regular, but drinking water flows have been over average. Electric power era in the thermal electrical power crops declined by 2.4{14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} to 968 GWh because of to the lower use of the Theiss electrical power plant for community stabilisation.
Environmental and drinking water company
The ongoing improvement of provide safety and consuming water high quality in Lessen Austria represents a focal place of EVN’s investments. The most essential assignments currently in progress include things like the enlargement of the cross-regional offer pipelines and the development of the fifth natural filter plant in Petronell-Carnuntum, which should really be commissioned as planned all through the winter 2021/22 based on the latest progress of construction.
In the worldwide task business, a new contract in Romania was been given all through February 2021. It has a quantity of around EUR 12m and requires the upgrading and modernisation of the Gilau ingesting h2o procedure plant to source the city of Cluj-Napoca. As of 31 March 2021, WTE Wassertechnik experienced 9 projects for wastewater, ingesting water and thermal sewage sludge therapy less than planning and design in Germany, Poland, Lithuania, Romania, Bahrain and Kuwait as effectively as 3 even more thermal sludge utilisation projects in progress in Germany (Halle-Lochau, Hannover und Straubing) by way of the joint undertaking with sludge2strength.
Financial commitment programme for the coming years
EVN is arranging a considerably-achieving financial commitment programme for the coming many years with annual investments of up to EUR 450m, like about 3-fourths in Reduce Austria. These substantial community investments will shield provide stability and help a CO2-totally free strength potential as very well as progress in the Networks Phase. Other focal factors for EVN incorporate renewable technology (wind power, photovoltaics and biomass) and ingesting drinking water materials.
Outlook verified for the 2020/21 economical calendar year
Below the assumption of common situations in the strength small business natural environment, EVN expects Team internet end result of roughly EUR 200 to 230m for the 2020/21 economic year. On the other hand, the even further course of the corona crisis and the ensuing macroeconomic outcomes could have a negative influence on individual business enterprise regions at EVN and, in flip, on the advancement of earnings for the total Team.
The Letter to Shareholders on the very first 50 {14f62f8d01b0e9e4416e7be29f093eee2960b1e4c60488fca25d8fca5b82c641} of 2020/21 is accessible below www.trader.evn.at.
27.05.2021 Dissemination of a Corporate Information, transmitted by DGAP – a service of EQS Group AG.
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