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Interim report on the third quarter of 2023

11/2023 - Back to overview

Revenue and profit before tax continue to surpass the prior year level

Revenue of the W.E.B Group in the first three quarters of 2023 equaled EUR 154,7 million, significantly higher than the comparable figure of EUR 126.2 million in the previous year. The profit before tax totaled EUR 51.9 million, comprising a considerable increase from EUR 35.3 million in the prior year period.

In the first three quarters of 2023, production results were 10% below target. Nevertheless, the power plant expansion projects, including the Silver Maple wind farm in Canada as well as D√ľrnkrut III and G√∂tzendorf in Austria, combined with comparatively high electricity prices to boost revenue by 23% year-on-year.

In response to the high energy prices, European countries have imposed windfall taxes on energy companies. For W.E.B, this levy amounted to about EUR 6.5 million in the third quarter of 2023 and was reported under other operating expenses.

Expansion of the power plant portfolio

In the third quarter of 2023, construction work proceeded on several wind power plants. These included Ariano, the company’s largest single power plant with a capacity of 84 MW as well as the Apricena wind power facility, both of which are in Italy. Repowering projects were underway, namely Gols and Sigless in Austria and Kuhs in Germany.