Alpiq Holding AG reported earnings results for the first six months of 2017. For the six months, the company reported net revenue of CHF 3.5 billion against CHF 3.0 billion a year ago. EBITDA before exceptional items was CHF 158 million against CHF 239 million a year ago. The main drivers of net revenue are higher transaction volumes in the trading and sales business. EBITDA before exceptional items primarily stems from negative exchange rate effects caused by expiring hedges that were concluded before the decision taken by the Swiss National Bank to abolish the minimum EUR exchange rate as well as the unscheduled downtime at the Leibstadt nuclear power plant. The persistently low wholesale prices were also a factor. Net debt further reduced to CHF 726 million against as at 31 December 2016: CHF 856 million. Net loss before exceptional items amounts to CHF 5 million compared to net income before exceptional items of CHF 41 million in 2016.

The company expects results of operations in 2017 to be down on the previous year. This is attributable to the Generation Switzerland business division, where the negative exchange rate effects and continued low wholesale prices impact Swiss electricity production.