EVN AG announces stable growth in the first quarter of 2023/24 and confirms its dividend policy

EVN AG reveals stable growth in the first quarter of the 2023/24 financial year, supported by its diversified business model. The company reported significant progress in the development of renewable energy, including the commissioning of two new wind farms. This expansion brings renewable generation to 81.8%. At the same time, EVN continues its investments in the transformation of the energy system, showing an increase of almost 20% compared to the previous year.

Financially, the company recorded a drop in revenue of 22.6%, or 909.1 million euros, mainly due to valuation effects linked to financial hedges. However, the group's EBITDA increased slightly, by 1.4%, to reach 285.7 million euros. This performance is attributed to increased renewable generation, higher natural gas trading revenues and higher network tariffs. The group's net profit, however, decreased by 3.7%, reaching 143.8 million euros.

On the infrastructure side, EVN's investments focus on the network, renewable generation and the supply of drinking water. The solidity of the company's balance sheet structure, with net debt of 1,372.9 million euros as of December 31, 2023, supports these ambitious plans.

For the 2023/24 financial year, EVN anticipates a group net profit of between 420 and 460 million euros, subject to a stable regulatory environment and energy policy. The dividend policy, ensuring a distribution of at least 0.82 euros per share, is confirmed, aiming for fair participation of shareholders in profit growth.