Repower’s results exceed expectations
Repower AG has posted a good result for the first half of the 2020 financial year, with operating income (EBIT) of CHF 68 million and a net profit of CHF 41 million. In a volatile market the Teverola combined cycle gas turbine plant was able to provide balancing energy on a targeted basis, substantially contributing to grid stability in Italy and to Repower’s good results. Volumes of electricity generated by Repower’s own hydropower plants were 20% higher than the prior period.
REPOWER SEES OPERATING INCOME ALMOST DOUBLE
The year 2019 was shaped by negative price developments and a high level of volatility on the electricity markets. Repower defied these conditions, and thanks to the right strategy was able to post excellent results in asset management and trading. In 2019 Repower Italy recorded the highest operating income (EBIT) in its history. At 65.2 million francs, Repower Group EBIT was almost double the previous year’s.
|Total operating revenue||MCHF||1,937||2,090||1,847||1,724||1,724||1,740||1,740||1,890||1,890|
|Balance sheet total||MCHF||1,876||1,873||1,822||1,701||1,701||1,705||1,705||1,828||1,828|
|Energy gross margin||MCHF||264||223||208||196||194||196||195||185||178|
|Economic Value Added||MCHF||-1||-20||-18||-29||-35||-112|
|Operating cash flow||MCHF||126||55||43||78||69||17|
|Net debt to EBITDA||-0,3||0,5||0.0||-0.1||0.5||4.5|
|FFO / Net debt||%||< 0||134||< 0||< 0||55||4.1|
b.e. = before exceptional
1) Includes investment in tangible assets, intangible assets and associates, and investment-type loans.