EVN achieved a significant jump in earnings

EVN, the Austrian gas and electricity provider, reported strong earnings in the first half of 2023. The company's consolidated net profit increased by 70.6 percent to EUR 214.7 million, while the pre-tax profit rose by 53.7 percent to EUR 276.2 million. Revenue also saw growth, up 3.1 percent to EUR 2.193 billion. EVN highlighted that 72 percent of its energy generation came from renewable sources. The increase in net profit was attributed to various factors, including positive valuation effects and price effects in renewable electricity generation. Personnel expenses rose by 7.7 percent due to collective bargaining adjustments, and the employee count increased to 7,185.

(EUR 1 = USD 1.095)

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