EVN AG: EVN increases outlook for Group net result in 2022/23
November 08, 2023 at 12:07 pm EST
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EQS-Ad-hoc: EVN AG / Key word(s): Change in Forecast
EVN AG: EVN increases outlook for Group net result in 2022/23
08-Nov-2023 / 18:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The Management Board of EVN AG, in connection with the ongoing preparations of the annual financial statements, increases its outlook for Group net result for the 2022/23 financial year, ending 30 September 2023, to around EUR 530 million.
This increase is driven by several factors: higher operating earnings contributions from temporary anticipatory and subsequently recognised effects in South Eastern Europe, a currently determined non-cash revaluation effect as of the balance sheet date of the stake in the Ashta power plant in Albania, the effects on earnings from equity accounted investees and positive results from marketing of the Group's own generation in the past financial year. Despite these positive effects, the result is impacted by the negative end customer business in electricity and gas in Austria amounting to EUR 240 million.
Investments in infrastructure with a focus on grids, renewable generation and drinking water supply in the past financial year increased to around EUR 700 million.
The earnings effects reflect the latest market developments as of the balance sheet date and are subject to the finalisation and approval by the auditor of the annual financial statements for the 2022/23 financial year, which will be published on 14 December 2023.
Contact:
Gerald Reidinger
Head of Controlling and Investor Relations
Phone: +43 2236 200-12698
E-mail: investor.relations@evn.at
Stefan Zach
Head of Information and Communication
Phone: +43 2236 200-12294
E-mail: stefan.zach@evn.at
End of Inside Information
08-Nov-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
EVN AG specializes in the production and distribution of electricity and natural gas. Net sales break down by activity as follows:
- production and distribution of electricity and gas (80.1%): electricity (18,153 GWh sold in 2022/23), natural gas (4,291 GWh sold) and heat (2,272 GWh sold);
- environmental services (13.9%): drinking water distribution and wastewater treatment services, facility design and construction, industrial waste collection and treatment, etc.;
- other (6%).
EVN AG 
