- 18.12.2025, 07:31:21
- /
- EQS0008
EQS-News: EVN AG: Business development in the 2024/25 financial year
EQS-News: EVN AG / Key word(s): Annual Results
EVN AG: Business development in the 2024/25 financial year
18.12.2025 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
Highlights
• Decline of 7.4% in Group net result to EUR 436.7m
• Less favourable wind and water flows, normalisation of earnings at the
Austrian supply company
• Implementation of the 1.5°C transition plan in the EVN Group
• Increase in renewable generation capacity to 980 MW supported by the
expansion of wind power and photovoltaics
• Construction of the first “super hybrid park” in Trumau/Tattendorf,
Lower Austria
• Commissioning of the 60 km cross-regional drinking water supply
pipeline in the Waldviertel, Lower Austria
• Investments for the energy future exceed EUR 900m for the first time
• Dividend proposal: EUR 0.90 per share at prior-year level
Energy sector environment
The reporting year in EVN’s three core markets was characterised by much
colder weather than the previous reporting period. The heating degree
total was substantially higher than the previous year in Austria but
slightly lower than the long-term average. The weather in Bulgaria was
much cooler year-on-year but temperatures failed to reach the long-term
average. In North Macedonia, temperatures also exceeded the previous year
but remained clearly below the long-term average.
The conditions for electricity generation from water and wind were much
less favourable than the previous year in 2024/25. Wind flows in Austria
and Bulgaria as well as water flows in Austria, Germany and North
Macedonia were not only below the, in part, very high prior year levels
but also substantially below the long-term average. Due to the growing
importance of renewable capacities in the energy system, the development
of electricity prices during the year is heavily influenced by seasonal
effects and generation conditions for renewable energies. The decline in
generation volumes from wind and hydropower in 2024/25 led to a
significant increase in the market price for electricity.
Increase in EBITDA and EBIT, Group net result below previous year
Revenue recorded by the EVN Group rose by 3.8% to EUR 3,000.0m in 2024/25.
This development resulted primarily from positive volume and price effects
from the supply companies in Bulgaria and North Macedonia and from the
distribution network companies in all three EVN core markets. The cooler
temperatures in the winter half year were also responsible for an increase
in revenue at EVN Wärme. These developments were contrasted by a price-
and volume-related decline in revenue from the marketing of renewable
generation and natural gas trading.
The cost of energy purchases from third parties and primary energy
expenses increased by 10.3% to EUR 1,503.0m due to higher procurement
costs for the energy supply business in South East Europe. This increase
was offset in part by a decline in procurement volumes and costs for
natural gas and in generation. The cost of materials and services rose by
10.4% to EUR 312.7m, chiefly due to repair costs for flood damages which
were largely covered by insurance. This also led to an increase in other
operating income. Personnel expenses were higher year-on-year but other
operating expenses declined as they were influenced by a write-off of
receivables in the previous year.
The share of results from equity accounted investees with operational
nature improved substantially from EUR 24.2m in the previous year to EUR
128.6m. This increase was supported, above all, by the expected
normalisation of earnings at EVN KG. A higher earnings contribution from
RAG was contrasted by lower contributions from Burgenland Energie, Verbund
Innkraftwerke and the hydropower plant in Ashta, Albania. However, the
decline in the earnings contributions from Burgenland Energie and the
Ashta power plant are attributable to positive one-off effects in the
previous year. Based on these developments, EBITDA recorded by the EVN
Group improved by 19.2% year-on-year to EUR 909.1m.
The rising volume of investments led to an increase of 7.9% in scheduled
depreciation and amortisation to EUR 360.1m. In addition, impairment
losses totalling EUR –58.2m were recognised during the reporting period
(previous year: impairment losses of EUR –24.9m). They were related
primarily to EVN Wärmekraftwerke and reflected the damage caused by
flooding in 2024. EBIT rose to EUR 490.9m in 2024/25 (previous year: EUR
404.3m).
Financial results declined substantially from EUR 145.6m to EUR 83.6m,
chiefly due to a reduction in the dividend from Verbund AG from EUR 4.15
per share in the 2023 financial year to EUR 2.80 per share for 2024.
Financial results were also negatively affected by a foreign exchange
effect related to a deconsolidation.
The result before income tax rose by 4.5% year-on-year to EUR 574.4m.
After the deduction of EUR 65.6m in income tax expense (previous year: EUR
32.1m) and the earnings attributable to non-controlling interests, Group
net result for the period equalled EUR 436.7m. That represents a
year-on-year decline of 7.4%.
Update of the Strategy 2030 and 1.5°C transition plan, balance sheet
structure remains solid
The strategy update in 2024/25 set clear goals and priorities for the
Group’s orientation. The central objective is EVN`s contribution to the
transformation of the energy system, whereby the focal points range from
the expansion of renewable generation to necessary infrastructure
investments and the use of opportunities from surplus energy generated
from renewable sources. Activities in the coming years will therefore be
directed to the construction and operation of large-scale battery storage
facilities. At the same time, EVN will be investing in the e-charging
infrastructure to drive the cross-sector use of renewable electricity for
mobility. Digitalisation and the use of artificial intelligence will also
be essential in many areas - from data management and system controls in
network operations to the further development of our distribution
operations. This strategic orientation will create the basis for EVN’s
sustainable growth and a continuous improvement in performance.
EVN finalised its 1.5°C transition plan in 2024/25. The corresponding
goals for the reduction of greenhouse gas emissions were externally and
scientifically evaluated and validated. These reduction goals not only
cover the material greenhouse gas emissions from own business activities
(e.g. electricity and heat generation, electricity network losses and
natural gas network sales volumes), but also include the greenhouse gas
emissions along the value chain (e.g. energy consumption by customers).
The business model of the EVN Group is therefore compatible with the
1.5°C-goal set by the Paris Climate Agreement.
The capital structure of EVN is stable and solid and provides a sound
foundation for the realisation of the ambitious investment programme. EVN
expects to invest an average of EUR 1bn each year within the framework of
the Strategy 2030. Of this total, roughly four fifths will be directed to
Lower Austria and focus on the networks, renewable generation, large
battery storage, the e-charging infrastructure and drinking water
supplies. Investments rose to over EUR 900m for the first time in 2024/25,
whereby 89.1% are classified as taxonomy-aligned in accordance with
Article 8 of the EU Taxonomy Regulation (EU) 2020/852 and are therefore
considered ecologically sustainable. Net debt totalled EUR 1,155.9m as of
30 September 2025 (30 September 2024: EUR 1,129.3m).
Energy. Water. Life. – Developments in the energy and environmental
service business
Energy business
EVN`s electricity generation was 12.2% lower year-on-year at 2,915 GWh in
the reporting period. Capacity expansion for wind power and photovoltaics
was unable to offset below average wind and water flows which led, in
total, to a decline of 16.9% in renewable generation to 2,325 GWh. The
increase in thermal generation to 590 GWh (previous year: 519 GWh) is
attributable to the greater use of the Theiss power plant for network
stabilisation by the Austrian transmission network operator. The share of
renewable generation equalled 79.8% (previous year: 84.4%).
The strong momentum in the expansion of renewable generation continued
during the reporting period. The completion of repowering projects and the
commissioning of newly built wind power and photovoltaic parks increased
EVN’s installed renewable electricity generation capacity to 980 MW as of
30 September 2025. A well-filled project pipeline ensures the attainment
of the expansion goals for wind power (770 MW), photovoltaics (300 MWp)
and battery storage (300 MW) by 2030. The construction of a 3.4 MW battery
storage facility in Trumau in connection with the existing wind park in
Tattendorf and the solar power plant in Trumau will create the first
“super hybrid park”. Battery storage facilities are seen as the key
technologies for a successful road into a renewable energy future because
they can optimally coordinate electricity generation, consumption and
storage.
Environmental and water business
Drinking water supplies in Lower Austria and the continuous improvement of
the related infrastructure to protect supply security remain a central
focus of investments for EVN. The 60 km cross-regional transport pipeline
in the Waldviertel in Lower Austria was completed and commissioned during
the reporting period. In Reisenberg, a town in Lower Austria’s
Industrieviertel, work is currently proceeding on the construction of the
already eighth natural filter plant.
The contract with STRABAG for the sale of the international project
business was signed in June 2025; the closing is expected at the beginning
of 2026.
Dividend and outlook on the 2025/26 financial year
For the 2025/26 financial year, EVN expects EBITDA and Group net result
roughly at the prior year level – under the assumption of a stable
regulatory and energy policy environment. Group net profit is expected to
range from approximately EUR 430m to EUR 480m. Energy sector parameters,
in particular, are a source of planning uncertainty. For example: The
planning assumptions for the generation coefficients applied to renewables
are based on long-term averages, while the temperature-related energy
demand is relevant for energy and network sales volumes – and any changes
in these parameters can lead to fluctuations in earnings. The
uncertainties related to financial results refer to the dividend from
Verbund AG.
Based on the Group net result of EUR 436.7m recorded for the 2024/25
financial year, the Executive Board will make a recommendation to the 97th
Annual General Meeting which calls for the distribution of a dividend of
EUR 0.90 per share. The future dividend policy will be adjusted to reflect
a stable regulatory environment and energy policies. The dividend for the
financial years beginning with 2025/26 is planned to equal at least EUR
0.90 per share. In the following years up to 2029/30, the dividend should
increase to at least EUR 1.10 per share to reach a payout ratio of roughly
40%.
For the complete Full Report on the 2024/25 financial year, see
www.investor.evn.at.
══════════════════════════════════════════════════════════════════════════
18.12.2025 CET/CEST This Corporate News was distributed by [1]EQS Group
View original content: [2]EQS News
══════════════════════════════════════════════════════════════════════════
Language: English
Company: EVN AG
EVN Platz
2344 Maria Enzersdorf
Austria
Phone: +43-2236-200-12294
E-mail: info@evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2247404
End of News EQS News Service
2247404 18.12.2025 CET/CEST
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2247404&application_name=news&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f5d50dc7e8798b6eb177f7955e598e60&application_id=2247404&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8fb35d1b4d41bb17f333661ea9a7c29d&application_id=2247404&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=newsOTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |
