2022: Dynamic development in a strengthening environment
04/2023 - Back to overview
Significant growth again for Austrian wind power pioneer | Capacity increase ensures production record despite poor wind conditions | Successful corporate bond and strengthening environment promote growth offensive
Pfaffenschlag, April 12, 2023. Despite the historically weakest wind year in the company’s history, WEB Windenergie AG (W.E.B) managed to set a new production record in 2022 with 1,312 GWh (2021: 1,237 GWh). This only possible due to the capacity expansion by 52.4 MW to a total of 596.1 MW as of December 31, 2022. Revenues increased to EUR 174.1 million (2021: EUR 113.6 million), also due to the increase in electricity prices; the consolidated result increased to EUR 29.7 million (2021: EUR 17.1 million).
CEO Frank Dumeier: “The year 2022 was crucial for W.E.B, and not just because we were able to report record production, sales and earnings. More importantly, society has finally begun to recognize that our future depends on the rapid and widespread expansion of renewable energies. Encouraged by this new mindset, our strong growth offensive further promotes the energy transition.”
Significant increase in capacity
Three projects in particular were fundamental in expanding the range of W.E.B power plants by 52.4 MW in 2022: the Austrian wind farms Matzen-Klein-Harras (12.6 MW) and Spannberg (16.8 MW) as well as the and the Silver Maple wind farm with 20 MW in the United States went into operation. In addition to the core business of wind energy, the current photovoltaic boom enabled solar power to become an increasingly important growth area for W.E.B: nine photovoltaic systems with a total capacity of more than 3 MW went into operation in 2022. They were installed at the business sites of industrial and commercial partners in order to increase their self-sufficiency.
Frank Dumeier: “We are on a dynamic growth course. With 111 projects and a total power production capacity of more than 3,000 MW, our project pipeline has grown more than ever before. We currently have more than 170 MW with an investment volume of almost EUR 200 million under construction, which are scheduled to go into operation this year and in 2024.”
Energy crisis accelerates energy transition
The energy crisis caused by the Russian war of aggression against Ukraine created a new mindset for renewable energy among the general public. What is more, it accelerates the decarbonization of the industry, which already began when companies recognized the economic potential of wind and solar power.
CFO Michael Trcka: “W.E.B has been aware of the ecological and economic potential of renewable energy for a long time. In 2022, this insight prevailed on a broad basis. In Europe, many companies have now understood that renewable energy is the only chance to survive on the world market. Their demand is correspondingly high, especially for photovoltaic systems. In consequence, this business area is becoming more and more important alongside wind power.”
Record for “Green Investment” in W.E.B
In line with the successful development of the company and good prospects for renewable energy, investors show increasing interest in W.E.B: The monthly average price of W.E.B shares traded over the counter in the trade room (www.traderoom.at) rose sharply from around EUR 160 in January to around EUR 191 in December. At the same time, the number of shareholders increased by more than 700 in 2022 – another record outside of capital increases. The W.E.B bond 2023 with a subscription volume of more than EUR 30 million recently set yet another record. The final subscription result is not yet available and will be published on the issue date, April 19, 2023.
CFO Michael Trcka: “The great interest of investors in our share and our most recent bond demonstrates the appeal of our ‘green investments’ and proves the urgency of the energy transition. At the same time, it confirms our strategy at W.E.B and promotes our further growth course in the wind power and photovoltaic sector.”