EWE AG, which is based in Oldenburg, Germany, saw its performance develop positively in the first half of the year, with earnings before interest and taxes for the Group (EBIT) reported at €359.9 million (previous year: €309.6 million). Consolidated net income for the period came to €169.0 million (previous year: €167.7 million). This is a demonstration of how the regional energy supplier is continuing the upward trend of the previous year, achieving stability following its repositioning and confirming its forecast for 2013 (positive EBIT in triple-digit million range).
“We will continue to focus specifically on activities that support our core business in the long term, both in terms of operating business and strategy,” said CEO Dr. Werner Brinker, laying out the path. Another part of this is achieving profitable growth in those areas that will allow EWE to play an active role in reforming northern Germany’s energy supply, according to Brinker. He stated that the company aims to use its long-time connection to the regions and its many years of local experience to involve the regions and their people in the shaping of an environmentally friendly energy supply system.
CFO Dr. Heiko Sanders described the situation in the first half of the year as “encouraging”, but reminded that more work was needed in order to be appropriately prepared for the challenges that the energy market will face. “The challenging competitive environment continues to demand that we provide concentrated value and efficient structures,” said Sanders. The path of stabilisation that the company has set upon on must be continued with great dedication, he remarked.
This approach is partly reflected in the new structure of the EWE Group in terms of how the segments are now arranged. The rearrangement means that figures for the previous year are not available.
Sales in the generation business area came to €456.0 million. Of this, €280.5 million were attributable to electricity generation, €134.5 million to the gas business and €41.0 million to other products. EBIT came to €49.4 million.
Sales in the first half of the year came to €1.3 billion. Sales from feed-in remuneration under the German Renewable Energy Act (EEG) contributed €533.2 million of this, while electricity accounted for €430.6 million, gas €259.9 million and other activities €120.9 million. The business area generated EBIT of €239.9 million from this.
Sales and Trading
The Sales and Trading business area concluded the first half of the year with sales of €3.4 billion. Electricity sales accounted for €1.8 billion of this, gas sales €1.2 billion, telecommunications €221.7 million, and other activities €176.0 million. The resultant EBIT came to €48.7 million. Consolidated sales of electricity in the EWE Group (domestic) came to 22,210.0 million kWh, not including internal consumption. 25,446.2 million kWh were sold to gas customers. The sold quantities include the amounts of energy traded by EWE TRADING.
International and IT
Sales in the Foreign Business and IT business area of €542.8 million comprised sales from the gas business of €456.7 million, sales from the IT business of €85.9 million and sales from other activities of €0.2 million. The business area generated EBIT of €14.0 million from this.