Repower posts solid half-year results
Repower AG’s results for the first half of 2021 fell slightly short of the prior year, with operating income (EBIT) of CHF 60 million and net profit of CHF 42 million. An important contribution to earnings came from Repower Italy, which benefited from increased demand for energy. The half-year results were positively influenced by extraordinary items.
Repower posts solid group results
Repower AG can look back on a successful 2020 financial year. Group profit was CHF 41 million. Operating profit (EBIT) increased 18% year on year to CHF 77 million. Another good result in Italy was underpinned by solid earnings contributions from the other divisions. Repower continued to invest large amounts in renewable energy. Its strategy, based on a diversified business model, again paid off.
Financial key figures
|
CHF million |
2020 |
2019 |
2018 |
2017 |
2016 |
|
|
Swiss GAAP FER |
Swiss GAAP FER |
Swiss GAAP FER |
Swiss GAAP FER |
Swiss GAAP FER |
|
|
|
||||
|
Revenue and income |
|
||||
|
Total operating revenue |
1.723 |
1.937 |
2.090 |
1.847 |
1.724 |
|
Earnings before interest, taxes, depreciation and amortisation (EBITDA) |
129 |
117 |
82 |
79 |
52 |
|
Depreciation/amortisation and impairment |
–52 |
–52 |
–47 |
–45 |
–30 |
|
Earnings before interest and taxes (EBIT) |
77 |
65 |
35 |
34 |
22 |
|
Group earnings |
41 |
50 |
16 |
20 |
–1 |
|
|
|||||
|
Balance sheet |
|
||||
|
Balance sheet total at 31 December |
1’982 |
1’876 |
1’873 |
1’822 |
1’701 |
|
Equity at 31 December |
869 |
844 |
807 |
769 |
737 |
|
Equity ratio |
44% |
45% |
43% |
42% |
43% |
|
|
|||||
|
Other KPIs |
|
||||
|
Energy gross margin |
273 |
264 |
223 |
208 |
194 |
|
Economic value added |
5 |
–1 |
–20 |
–18 |
–29 |
|
Funds from Operations (FFO) |
161 |
103 |
60 |
72 |
55 |
|
Cash flow from operating activities |
159 |
126 |
55 |
43 |
78 |
|
Net debt / net liquidity *) |
–89 |
–31 |
42 |
–33 |
–11 |
|
Net debt factor |
–0,7 |
-0.3 |
0.5 |
–0,4 |
–0,2 |
|
FFO/net debt |
<0% |
<0% |
143% |
<0% |
<0% |
|
Investment in tangible and intangible assets |
52 |
41 |
32 |
27 |
29 |
|
Number of employees |
580 |
555 |
610 |
599 |
583 |
* Net liquidity is shown with a negative sign and, like net debt, is now calculated on the basis of cash and cash equivalents, marketable securities, fixed-term deposits, and current and non-current financial liabilities, including accrued interest.
