Interim Report on the 3rd Quarter of 2024

Continued impact of lower electricity prices on revenue and earnings / Commissioning of W.E.B's largest wind farm to date

The W.E.B Group's revenue for the third quarter of 2024 amounted to EUR 118.4 million and was thus - as in the first half of the year - 23% below the previous year's figure. This reflects the leveling off of electricity prices following the extraordinary levels of previous years. Thanks to commissionings this year and last year, electricity production is up on the previous year, although overall production is slightly below expectations. Expenses and depreciation increased by EUR 3.8 million compared to the previous year, while interest expenses rose by EUR 1.7 million. Earnings before taxes amounted to EUR 13.0 million (Q3/2023: EUR 51.9 million).

W.E.B's largest wind farm to date was commissioned in the third quarter: With a remarkable total output of 84 MW, the Ariano wind farm in Italy is not only an exceptional project by W.E.B standards; it is also one of the top 10 largest wind farms in Italy. In September, the Hoheneich PV project in Austria went into operation with 0.4 MWp.

Construction work is underway on the Spannberg IV project in Austria with 22.4 MW and the Grube project in Germany with 12.6 MW; commissioning is planned for next year.