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Germany

Germany

EWE profits up

GERMANY: EWE saw its performance improve in the first half of the year, with earnings before interest and taxes (EBIT) coming in at EUR 359.9 million, compared with EUR 309.6 million the previous year.

EWE chief executive Dr Werner Brinker
EWE chief executive Dr Werner Brinker

This was on the back of sales that leapt 10% to EUR 4.7 billion. Energy generation accounted for EUR 456 million of this, while infrastructure sales in the first half came to EUR 1.3 billion. Sales from feed-in remuneration under the German Renewable Energy Act contributed EUR 533.2 million of this.

The energy company, with more than 50 wind farms worldwide, posted a consolidated net income for the period 1 January to 30 June of EUR 169.0 million, up from EUR 167.7 million a year ago.

Chief financial officer Dr Heiko Sanders described the situation in the first half of the year as "encouraging", but added that "more work is needed" in order to be appropriately prepared for the challenges the energy market will face.

"The challenging competitive environment continues to demand that we provide concentrated value and efficient structures," he said.

The company expects to see a full-year increase in group sales of around 5%, while EBIT is expected to remain largely the same.

Chief executive Dr. Werner Brinker commented: "EWE will play an active role in reforming northern Germany's energy supply. The company aims to use its long-time connection to the regions and its many years of local experience to involve the people in the shaping of an environmentally friendly energy supply system."

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