EVN AG: Financial Year 2023/24 Overview

EVN AG reported a decrease in the Group net result by 11.0% to EUR 471.7m for the financial year 2023/24. A negative earnings impact of approximately EUR 162m was attributed to the Austrian electricity and natural gas supply company. Despite this, the share of renewable generation rose to 84.4% from 77.0% the previous year.

Revenue declined by 13.6% to EUR 3,256.6m, driven by falling wholesale prices for electricity and natural gas across Austria, Bulgaria, and North Macedonia. EBITDA also decreased by 8.0%, amounting to EUR 799.4m. Projects included expansion in wind power, commencement on a biomass plant in St. Pölten, and advancements in charging infrastructure.

EVN recorded a record investment of EUR 753.0m, primarily within renewable energy and network infrastructure. With stable net debt at EUR 1,129.3m, EVN is poised for further investments to reach an annual target of EUR 900m by 2030, aligning with EU taxonomy regulations.