Latest Issue
 
Windtech International September October 2024 issue

 

FOLLOW US AT

follow

 

follow


During the first half of 2017, innogy increased its result as expected: Adjusted EBITDA was about € 2.4 billion, up 2 per cent year on year. Net of operating depreciation and amortisation, innogy posted adjusted EBIT of about € 1.7 billion, an increase of 4 per cent compared to the same period last year. Adjusted net income was up as much as 16 per cent, to € 857 million.

The grid business was the main driver of the earnings growth achieved in the first half of 2017. Adjusted EBIT from the Grid & Infrastructure division increased by 19 per cent, to € 1,094 million.

Adjusted EBIT in the Renewables division was down 18 per cent to € 179 million. This was primarily due to below-average wind and precipitation levels during the first half of the year. In addition, positive one-off effects in the previous year did not recur. The devaluation of the British pound compared to the euro also had a negative impact. A positive effect by contrast was felt from the commissioning of new onshore wind farms.

At € 588 million, adjusted EBIT in the Retail division was 8 per cent down year on year
In the first half of 2017, innogy produced 5.7 billion kWh of electricity, 8 per cent less than in the same period last year. A large portion was attributable to generation from renewables: about 65 per cent from onshore and offshore wind turbines and about 21 per cent from run-of-river and storage power stations. A small proportion was produced by biomass and photovoltaic plants. Some 11 per cent stemmed from conventional electricity generation capacities at companies in which innogy holds a stake.

innogy maintains the outlook on this year’s business performance. It anticipates that the innogy Group will achieve about € 4.4 billion in adjusted EBITDA and about € 2.9 billion in adjusted EBIT. From today’s perspective, adjusted net income is expected to total over € 1.2 billion, thus exceeding the figure achieved in 2016 by at least 7 per cent.

 
Use of cookies

Windtech International wants to make your visit to our website as pleasant as possible. That is why we place cookies on your computer that remember your preferences. With anonymous information about your site use you also help us to improve the website. Of course we will ask for your permission first. Click Accept to use all functions of the Windtech International website.