EQS-News

EVN AG: Business development in the first quarter of 2023/24 - Seite 3

 

Solid balance sheet structure

EVN has a solid and stable capital structure which provides a sound foundation for the realisation of the extensive investment programme of EUR 700 to 900m annually. These investments will focus on the network infrastructure, renewable generation and drinking water supplies over the coming years. Net debt totalled EUR 1,372.9m as of 31 December 2023.

 

Energy. Water. Life. – Developments in the energy and environmental services business

Energy business

EVN’s electricity generation rose by 6.2% year-on-year to 809 GWh in the first quarter of 2023/24. Higher wind and water flows combined with capacity expansion supported a 32.4% increase in renewable generation to 662 GWh. Declines were recorded in the use of the Theiss power plant for network stabilisation by the Austrian transmission network operator and, consequently, also in thermal generation. The share of renewable generation, in total, improved to 81.8% (previous year: 65.6%).

The wind parks in Altlichtenwarth-Grosskrut and Prottes, which have an installed capacity of 12.4 MW and 18 MW, respectively, were commissioned during the reporting period. Two other wind parks (thereof one repowering project) are currently under construction. Additional large-scale photovoltaic plants in Dürnrohr and North Macedonia are scheduled for commissioning in the second quarter of 2023/24 and will double the EVN Group’s installed photovoltaic capacity to roughly 80 MWp.

Environmental and water business

The focal point of investments in drinking water supplies remains on the planning and construction of transport and connecting pipelines to further improve and protect supply security. Construction on the second section of the 60 km transport pipeline from Krems to Zwettl, which will provide long-term protection for water supplies in the Waldviertel and Weinviertel regions, is proceeding as planned. Commissioning is scheduled for the end of 2024. In addition, the seventh natural filter plant is currently under construction in Obersulz.