Interim report on the first half of 2022

Increase in sales revenue despite moderate wind conditions

While the changes between cool and mild weather situations ensured a successful month of April, the weak wind conditions of May and June resulted in production results clearly below target. Even though the photovoltaic power segment benefitted from lots of sun in April, May and June, Italy was not able to deliver as expected due to cloudy weather.   

All in all, the first half of 2022 fell short of the defined production target by 5 percent. In the same period in 2021, W.E.B recorded a production minus of 8 percent. Aside from newly commissioned power plants in 2021, it was primarily the changing situation on electricity markets that had a positive effect on the Group’s sales revenue.   

The W.E.B Group concluded the first six months of 2022 with a generated sales revenue of MEUR 89.8. This corresponds to an increase of 67 percent compared to last year’s first half year. Earnings before taxes amount to MEUR 29.3.

A series of power plant projects are about to take shape: in late May, Austria started construction on wind farm expansions in Dürnkrut and Velm-Götzendorf. The foundations for the three new wind turbines with a total of 16.8 MW will be laid next fall; the plants are scheduled to be commissioned in mid-2023. For the wind farm in Velm-Götzendorf, W.E.B concluded a long-term electricity supply contract with OMV, the supplied electricity enabling them to produce green hydrogen.

The plant components for the Silver Maple (USA) wind power project with an installed capacity of 20 MW were delivered in June; construction work has already begun. The project will be connected to the grid in Q4 2022.    

The PV project on the premises of the Brantner company in Laa an der Thaya will be expanded. After the tenth PV system was installed in late January 2022, three more are about to follow: an open-field project with a capacity of 446 kW_p as well as additional 446 kW_p on the remaining roof areas until Q4 2022.