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Investing.com - Austrian energy and environmental services provider EVN AG (VIE:EVNV) on Monday reported solid results for the first half of its 2024/25 fiscal year, driven by higher energy demand and its diversified business model.
EVN confirmed its outlook for the full 2024/25 fiscal year, expecting group net profit between €400 million and €440 million.
The company reiterated its dividend policy of at least €0.82 per share going forward.
EVN’s revenue rose 6.6% year-over-year to €1.73 billion in the first half, supported by positive volume and price effects from distribution networks and supply companies across its core markets.
Colder winter temperatures also boosted revenue at EVN Wärme, the company’s heating subsidiary.
Group net profit increased 25.7% to €250.6 million, while earnings before interest, tax, depreciation and amortization (EBITDA) grew 20.1% to €512.8 million.
The company attributed the improved performance partly to a substantial reduction in losses at its energy supply subsidiary EVN KG compared to the previous year.
The company reached key milestones in its renewable energy expansion, with installed wind power capacity now at 500 MW and photovoltaic capacity exceeding 100 MWp. EVN plans to continue growing its renewable portfolio in the coming years.
EVN’s net debt stood at €1.29 billion as of March 31, 2025, up from €1.13 billion at the end of September 2024.