W.E.B Fiscal Year 2025

Revenue stable at EUR 168.0 million | Lower wind volumes lead to net income of EUR 14.7 million | Investments of EUR 180.0 million strengthen future earnings base | Total assets exceed EUR 1 billion for the first time 

Solid performance in a volatile market environment 

The W.E.B group generated revenues of EUR 168.0 million in fiscal year 2025, remaining largely in line with the previous year’s EUR 170.4 million — despite exceptionally weak wind conditions in its core European markets. Key contributions to power generation came from facilities commissioned in 2024 as well as from North American sites. 

On the earnings side, the continued expansion had the expected impact: both depreciation due to new commissioning (EUR 53.6 million vs. EUR 47.7 million in the previous year) and interest expenses (EUR 22.7 million vs. EUR 18.4 million) increased. Net income amounted to EUR 14.7 million, compared to EUR 20.3 million in 2024. 

“Achieving solid results despite extremely challenging wind conditions once again demonstrates the resilience of our business model,” said Michael Trcka, Board member Finance. “Our Canadian plants in particular showed that geographic diversification clearly pays off.” 

Scaling the portfolio as a key value driver 

During the reporting year, W.E.B consistently continued its national and international growth trajectory and initiated the next expansion phase of its power plant portfolio. A total of three wind parks and seven photovoltaic plants with a combined capacity of around 40 MW were commissioned. 

In Austria, the Spannberg IV wind park was completed, while in Germany, the Grube and Glaubitz RII projects contributed to capacity expansion. In the photovoltaic segment, six plants in Austria were complemented by the company’s first project in Slovakia. 

At the same time, construction began on additional power plants, most of which are scheduled for completion in 2026. These include the Weavers Mountain project in Canada — at 94.4 MW the largest single project in the company’s history — as well as the Poilly wind park in France and the Wörbzig II wind park in Germany, where turbines in the 7 MW class will be deployed for the first time. 

Strong investment momentum supports future earnings 

Investments, primarily in new and under-construction power plants, totaled EUR 180 million in 2025, underscoring the company’s dynamic expansion. Total assets exceeded the EUR 1 billion mark for the first time. 

“Our investments follow clear principles: active portfolio management, disciplined capital allocation for profitable growth, and sustainable value creation. This also includes the use of large-scale turbines, such as in Wörbzig, enabling even more cost-efficient electricity production,” emphasized Florian Müller, Board member Project Development. 

Diversification mitigates operational volatility 

Fiscal year 2025 also highlighted the impact of meteorological conditions on operations. The unusually low wind volumes in Europe remained within statistically expected ranges. 

“Weather-related fluctuations are part of our business model. What matters is that through geographic diversification, technological optimization, and data-driven planning, we can largely offset their effects,” explained Board member Operations Roman Prager. 

Stable structure and clear performance incentives 

Structurally, W.E.B remains on solid footing. After increases in previous years, the number of employees remained stable in 2025, while personnel expenses decreased by 6% compared to the prior year, mainly caused by the performance-based compensation system. Variable salary components are tied to growth and profitability metrics, directly linking the company’s economic performance to employee compensation. 

“We are well positioned to further expand our power plant portfolio while consistently driving organizational improvements. Employee participation in our success is important to us — currently reflected in our bonus system. We also plan to introduce an employee share ownership program, with a corresponding share buyback resolution to be presented at the upcoming Annual General Meeting,” said Stefanie Markut, Board member Corporate Development. 

Robust financing structure and growing investor base 

In financing, W.E.B continued its proven strategy by successfully placing its 20th corporate bond, fully subscribed with a volume of approximately EUR 32.8 million. The proceeds will be used for project development and portfolio expansion. 

The company’s broad investor base is reflected in the growing number of shareholders, surpassing 7,000 in February 2026. New dialogue formats, such as regular investor calls introduced in 2025, underline the company’s commitment to transparent communication. 

Focus on core competencies and integration of new technologies 

A key milestone in the reporting year was the 25th anniversary of the company’s German subsidiary, operating in one of Europe’s most competitive wind energy markets, where W.E.B has realized 14 wind parks with a total capacity of around 124 MW since market entry. 

At the same time, the company’s first wind turbine in Michelbach, Lower Austria, celebrated its 30th anniversary, symbolizing the long-term orientation of its business model. 

After the balance sheet date, W.E.B took another strategic step by divesting its e-mobility subsidiary ELLA. This allows the company to focus even more strongly on its core business: the development and operation of wind and photovoltaic power plants. A future focus will be on integrating battery storage systems to enable more efficient use of generated energy. Initial projects, such as a battery storage facility at the Grafenschlag site, are already in planning, supported by new regulatory frameworks in Austria. 

Overall, W.E.B continues to pursue its growth strategy consistently despite volatile conditions. Portfolio expansion, international diversification, and a broad investor base ensure stable long-term earnings and sustainable growth. 

Supervisory Board renewal at the Annual General Meeting on May 29, 2026 

Three long-standing Supervisory Board members — Chairman Josef Schweighofer, Stefan Bauer, and Martin Zimmermann — will not stand for re-election at the upcoming Annual General Meeting. This step reflects their long tenure and supports a balanced evolution of the board, combining experience with fresh perspectives. 

Following the Supervisory Board’s proposal, Birgit Brinda-Schumann and Gabriele Lehner, both distinguished financial experts, are to be elected as new members. Subject to approval, their expertise and international experience will support W.E.B’s continued growth.