EVN saw its operating figures decline versus the previous year as the group struggled to deal with the significant energy market distortions. The networks and supply activities faced extra costs with a relative inability to pass these through to end-customers, or with a lag on a best-case scenario.
The full-year net income guidance was confirmed but the overall message sent to the market was negative. With windfall taxes starting to show their teeth in Austria, cautiousness must prevail.
27 May 2022
H1 21/22: market distortions to drive earnings contraction
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H1 21/22: market distortions to drive earnings contraction
EVN saw its operating figures decline versus the previous year as the group struggled to deal with the significant energy market distortions. The networks and supply activities faced extra costs with a relative inability to pass these through to end-customers, or with a lag on a best-case scenario.
The full-year net income guidance was confirmed but the overall message sent to the market was negative. With windfall taxes starting to show their teeth in Austria, cautiousness must prevail.