Interim Report on the First Quarter of 2022
05/2022 - Back to overview
Good winter conditions, new power plants and the situation on the energy markets positively impacted business results.
The months of January and February 2022 were characterized by strong winds, which in turn led to electricity production exceeding the targeted figures. In contrast, the production targets could not be reached due to the consistent high-pressure weather. The photovoltaic segment remained below target in the first quarter of 2022. On balance, production in the first three months of the year was 1 percent below target, in contrast to production falling 19 percent under the planned volumes in the comparable prior-year quarter.
New solar power plants put into operation in the previous year also impacted sales revenue. Moreover, part of the generated electricity is sold on the free market. As a result, the price situation on energy markets affected earnings. Sales revenue rose to EUR 53.0m in the first quarter of 2022 (Q1/2021. EUR 27.5 million). Accordingly, earnings before tax equaled EUR 25.3 million (Q1/2021: EUR 5.7 million).
With respect to the Matzen-Klein-Harras II project implemented in the first quarter, three new wind turbines with a total capacity of 12.6 MW came on stream, whereas four new wind turbines with a capacity of 16.8 MW were put into operation in the Municipality of Spannberg. The 10th photovoltaic project with a capacity of close to 200 kWp was realized on the premises of Brandner, a company in Laa an der Thaya. In the Municipality of Venafro, Italy, W.E.B added a photovoltaic plant with a capacity of 250 kWp to its portfolio. A photovoltaic facility generating 234 kWp of electricity came on stream on the grounds of VTW in Waidhofen an der Thaya.
The access roads for the wind farm in Silver Maple, USA with an installed capacity of 20 MW were competed and the required cables were installed. The project will supply clean, regional electricity starting in November 2022 Two projects - namely Dürnkrut (total capacity 11.2 MW) and Götzendorf were commenced in Austria, with both plants expected to come on stream in 2023. The Götzendorf project featuring a capacity of 5.6 MW is the very first wind PPA in Austria.