Interim report on the first half of 2023
08/2023 - Back to overview
Revenue and earnings significantly higher than in the previous year
Sales revenue of the W.E.B Group in the first half of 2023 equaled about MEUR 109.0, considerably above the comparable figure of MEUR 89.8 in the previous year. Similarly, the profit after tax reached a level of MEUR 38.3, close to a third higher than in the prior-year period.
Total production results in the first six months of 2023 were below target. Nevertheless, the expansion of the company’s power plant portfolio, including the Silver Maple wind farm in the USA at the beginning of the year - accompanied by comparatively high electricity prices – led to a 21% revenue increase.
In response to the high energy prices, European countries have imposed windfall taxes on energy companies based on the relevant EU regulation to cap market revenues. For W.E.B, this levy amounted to MEUR 7.3 million in the first half of 2023. The rise in bond liabilities is related to the bond issue on April 19, 2023. Featuring an issue volume of approx. MEUR 38.2 million, it is the most successful capital raising measure of W.E.B to date.
Expansion of the power plant portfolio
Several new power plants were put into operation in the second quarter of 2023, including the Dürnkrut III and Götzendorf wind farms with a total installed capacity of 16.8 MW as well as a rooftop photovoltaic plant in Waidhofen/Thaya with 0.4 MWp.
Construction work is proceeding on two wind power plants in Italy, namely Ariano, currently the company’s largest single power plant with a capacity of 84 MW, as well as the Apricena project. Moreover, at the end of June 2023, three repowering projects were under construction, namely Gols and Sigless in Austria and Kuhs in Germany.