EVN has published positive FY15/16 results, despite revenues falling by 4.2% yoy to €2,046m, as EBITDA improved 3.6% yoy to €604m. Operating profit (EBIT) decreased by 2.9% yoy to €260.4m due to higher depreciation (+2.3% yoy) and €77.9m on impairments mainly on its thermal fleet as electricity prices are expected to be lower in the coming years (driven by a downward trend on the forward curve). Despite this, the reported net income of the company increased by 5.6% yoy to
13 Dec 2016
Networks and grid stability measures support the results
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Networks and grid stability measures support the results
EVN AG (EVN:WBO) | 0 0 1.6% | Mkt Cap: 2,928m
- Published:
13 Dec 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
EVN has published positive FY15/16 results, despite revenues falling by 4.2% yoy to €2,046m, as EBITDA improved 3.6% yoy to €604m. Operating profit (EBIT) decreased by 2.9% yoy to €260.4m due to higher depreciation (+2.3% yoy) and €77.9m on impairments mainly on its thermal fleet as electricity prices are expected to be lower in the coming years (driven by a downward trend on the forward curve). Despite this, the reported net income of the company increased by 5.6% yoy to