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Interim report on the first quarter 2023

05/2023 - Back to overview

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.