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Interim report on the first quarter 2023
05/2023
Increase in sales revenue compared to previous year, earnings before taxes with a slight decrease
The W.E.B Group concluded the first three months of 2023 with a generated sales revenue of MEUR 59.6. This corresponds to an increase of 12 percent compared to last year’s first quarter. Earnings before taxes suffered a slight decrease from MEUR 25.3 in Q1/2022 to MEUR 24.7 in the first quarter of 2023.
The overall electricity production of the W.E.B Group remained 5 percent below target in the first three months. Nevertheless, the increase in sales revenue was primarily based on the new power plants put into operation in 2022 as well as higher electricity prices.
In response to the market’s high energy prices, the European Union adopted a regularity framework to skim off excess profits of electricity producers, which the countries implemented in different ways. In the first quarter of 2023, W.E.B was subjected to this new framework in Austria, Germany, France, and Italy. The slight decrease in quarterly results compared to the previous year is mostly attributed to this energy crisis scheme.
In the reporting period, two new wind power projects and a repowering project in Austria (Dürnkrut, Götzendorf; Sigleß), two wind power projects in Italy (Ariano, Apricena) as well as a repowering project in Germany were under construction.
Corporate governance
As a community participation company, W.E.B is particularly conscious of its obligation to ensure responsible and transparent corporate governance. Since mid-2006, WEB Windenergie AG has been committed to compliance with the Austrian Code of Corporate Governance (ÖCGK). This code has been applied with certain provisos and clarifications, which are published each year in the company’s annual report.
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Head of Communications & Investor Relations
Mbeate.zoechmeister@web.energy
T+43 2848 6336 - 19
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Past share performance does not guarantee future developments. Share prices can fluctuate. In the absence of a regulated market or inclusion in a multilateral trading system, shareholders may find shares difficult or impossible to sell. If suitable profits are not recorded or if relevant decisions are made at a general meeting, shareholders may receive limited or no dividends. Shareholders may lose their entire investment in certain circumstances, such as the insolvency of the issuer. The sale of shares on credit carries with it increased risk. Taxation-related risks. Shareholders who own or purchase a share in the issuer exceeding 10% of the share capital do not receive a commensurate influence over the company in the form of voting rights. Changes to applicable laws, regulations or administrative practices can have adverse effects on the issuer, new shares and/or investors. This company is not subject to takeover laws, and the protective measures in such legislation do not apply to our shareholders.