Scope of consolidation | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Consolidated | Accounted for using the equity method | Accounted for as a joint operation |
As at 31/12/2023 | 57 | 8 | 1 |
Additions from newly formed entities | 1 | 0 | 0 |
Change in consolidation method | 0 | \u2013\u00a01 | 0 |
Other additions | 10 | 2 | 0 |
Disposals by means of merger | \u2013\u00a05 | 0 | 0 |
As at 31/12/2024 | 63 | 9 | 1 |
of which domestic companies | 22 | 6 | 1 |
of which foreign companies | 41 | 3 | 0 |
Acquisitions of groups of assets 2024 \u00a0 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Austria | 22.9 | 0.8 | 28.8 | 0.0 |
Wind parks acquired in Germany | 21.1 | 5.4 | 72.1 | 43.8 |
Photovoltaic projects under construction in Italy | 10.0 | 0.0 | 15.5 | 0.0 |
Acquisitions of groups of assets 2023 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Spain | 482.6 | 6.5 | 475.9 | 0.0 |
Foreign exchange rates used for currency translation | \u00a0 | ||||
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 | 2023 | 2024 |
Country | Currency | Closing rate | Closing rate | Average rate | Average rate |
Romania | \u20ac1 = RON | 4.9746 | 4.9741 | 4.9516 | 4.9748 |
Newly applicable or applied accounting standards | \u00a0 | |||
Standard or interpretation | Published by the IASB (endorsed by the EU) | Mandatory application for VERBUND | Material effects on the consolidated financial statements of VERBUND | |
IAS\u00a07 and IFRS\u00a07 | Amendment: Disclosure requirements and additions to supplier finance arrangements | 25/5/2023 (15/5/2024) | 1/1/2024 | None |
IAS\u00a01 | Amendment: Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants | 23/1/2020 (19/12/2023) | 1/1/2024 | None |
IFRS\u00a016 | Amendment: Lease Liability in a Sale and Leaseback | 22/9/2022 (20/11/2023) | 1/1/2024 | None |
New accounting standards not yet applicable or applied | \u00a0 | |||
Standard or interpretation | Published by the IASB (endorsed by the EU)1 | Mandatory application for VERBUND | Expected material effects on the consolidated financial statements of VERBUND | |
IAS\u00a021 | Amendment: Clarification of accounting when there is a lack of exchangeability | 15/8/2023 | 1/1/2025 | None |
IFRS\u00a09 and IFRS\u00a07 | Amendment: Contracts Referencing Nature-dependent Electricity | 18/12/2024 (pending) | 1/1/2026 | Easier application of the own-use exemption for energy supply contracts |
IFRS\u00a09 and IFRS\u00a07 | Amendment: Classification and Measurement of Financial Instruments | 30/5/2024 (pending) | 1/1/2026 | None |
Various | Annual Improvements (Volume 11) | 18/7/2024 (pending) | 1/1/2026 | None |
IFRS\u00a018 | Presentation and Disclosure in Financial Statements | 9/4/2024 (pending) | 1/1/2027 | Adjustment of the presentation of the profit and loss statement, the cash flow statement, the balance sheet and the notes |
IFRS\u00a019 | Subsidiaries without Public Accountability: Disclosures | 9/5/2024 (pending) | 1/1/2027 | None |
2025 Group result: sensitivities | \u00a0 | \u20acm |
\u00a0 | +\u00a01% | \u2013\u00a01% |
Generation from hydropower | 15.8 | \u2013\u00a015.8 |
Wind power and photovoltaic generation | 1.9 | \u2013\u00a01.9 |
2025 Group result: sensitivities | \u00a0 | \u20acm |
\u00a0 | \u20ac+\u00a01/MWh | \u20ac\u2013\u00a01/MWh |
Wholesale electricity prices (renewable generation) | 5.9 | \u2013\u00a05.9 |
\u00a0 | +\u00a01% | \u2013\u00a01% |
Interest rate percentage points | \u2013\u00a01.2 | 1.2 |
Scope of consolidation | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Consolidated | Accounted for using the equity method | Accounted for as a joint operation |
As at 31/12/2023 | 57 | 8 | 1 |
Additions from newly formed entities | 1 | 0 | 0 |
Change in consolidation method | 0 | \u2013\u00a01 | 0 |
Other additions | 10 | 2 | 0 |
Disposals by means of merger | \u2013\u00a05 | 0 | 0 |
As at 31/12/2024 | 63 | 9 | 1 |
of which domestic companies | 22 | 6 | 1 |
of which foreign companies | 41 | 3 | 0 |
Acquisitions of groups of assets 2024 \u00a0 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Austria | 22.9 | 0.8 | 28.8 | 0.0 |
Wind parks acquired in Germany | 21.1 | 5.4 | 72.1 | 43.8 |
Photovoltaic projects under construction in Italy | 10.0 | 0.0 | 15.5 | 0.0 |
Acquisitions of groups of assets 2023 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Spain | 482.6 | 6.5 | 475.9 | 0.0 |
Foreign exchange rates used for currency translation | \u00a0 | ||||
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 | 2023 | 2024 |
Country | Currency | Closing rate | Closing rate | Average rate | Average rate |
Romania | \u20ac1 = RON | 4.9746 | 4.9741 | 4.9516 | 4.9748 |
Newly applicable or applied accounting standards | \u00a0 | |||
Standard or interpretation | Published by the IASB (endorsed by the EU) | Mandatory application for VERBUND | Material effects on the consolidated financial statements of VERBUND | |
IAS\u00a07 and IFRS\u00a07 | Amendment: Disclosure requirements and additions to supplier finance arrangements | 25/5/2023 (15/5/2024) | 1/1/2024 | None |
IAS\u00a01 | Amendment: Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants | 23/1/2020 (19/12/2023) | 1/1/2024 | None |
IFRS\u00a016 | Amendment: Lease Liability in a Sale and Leaseback | 22/9/2022 (20/11/2023) | 1/1/2024 | None |
New accounting standards not yet applicable or applied | \u00a0 | |||
Standard or interpretation | Published by the IASB (endorsed by the EU)1 | Mandatory application for VERBUND | Expected material effects on the consolidated financial statements of VERBUND | |
IAS\u00a021 | Amendment: Clarification of accounting when there is a lack of exchangeability | 15/8/2023 | 1/1/2025 | None |
IFRS\u00a09 and IFRS\u00a07 | Amendment: Contracts Referencing Nature-dependent Electricity | 18/12/2024 (pending) | 1/1/2026 | Easier application of the own-use exemption for energy supply contracts |
IFRS\u00a09 and IFRS\u00a07 | Amendment: Classification and Measurement of Financial Instruments | 30/5/2024 (pending) | 1/1/2026 | None |
Various | Annual Improvements (Volume 11) | 18/7/2024 (pending) | 1/1/2026 | None |
IFRS\u00a018 | Presentation and Disclosure in Financial Statements | 9/4/2024 (pending) | 1/1/2027 | Adjustment of the presentation of the profit and loss statement, the cash flow statement, the balance sheet and the notes |
IFRS\u00a019 | Subsidiaries without Public Accountability: Disclosures | 9/5/2024 (pending) | 1/1/2027 | None |
2025 Group result: sensitivities | \u00a0 | \u20acm |
\u00a0 | +\u00a01% | \u2013\u00a01% |
Generation from hydropower | 15.8 | \u2013\u00a015.8 |
Wind power and photovoltaic generation | 1.9 | \u2013\u00a01.9 |
2025 Group result: sensitivities | \u00a0 | \u20acm |
\u00a0 | \u20ac+\u00a01/MWh | \u20ac\u2013\u00a01/MWh |
Wholesale electricity prices (renewable generation) | 5.9 | \u2013\u00a05.9 |
\u00a0 | +\u00a01% | \u2013\u00a01% |
Interest rate percentage points | \u2013\u00a01.2 | 1.2 |
Discretionary decisions and assumptions regarding the future | \u00a0 |
Assessing whether a purchase transaction constitutes an acquisition of a business or an acquisition of assets or a group of assets | Section 1.2 |
Estimation of the terms of leases | Section 4.3 |
Determination of the discount rate for impairment testing | Section 4.4 |
Determination of the estimated future cash flows for impairment testing of goodwill | Section 4.4.1 |
Determination of estimated future cash flows for impairment testing of power plants and grid infrastructure | Section 4.4.2 |
Measurement parameters of financial instruments measured at fair value under Level 3 | Section 5.1.1 |
Determination of the discount rate for the measurement of pensions and similar obligations as well as statutory termination benefits | Section 9.2 |
Determination of measurement parameters for other provisions | Section 9.3 |
Determination of the likelihood of contingent liabilities materialising | Section 13.1 |
Evaluation of whether other entities are controlled or jointly managed by VERBUND or whether VERBUND can exert a significant influence on another entity or whether an entity represents a joint operation of VERBUND | Section 13.4 |
Definition of operating segments | \u00a0 |
Hydro | Generation from hydropower |
New renewables | Generation from wind power, photovoltaic systems and flexible storage systems |
Sales | Trading and sales activities as well as business activities related to battery storage systems in the core market |
Grid | Regulated activities of Austrian Power Grid AG, Gas Connect Austria GmbH and Austrian Gas Grid Management AG |
All other segments | \u00a0 |
Thermal generation | Electricity and thermal generation of VERBUND Thermal Power GmbH & Co KG |
Services | Business activities of VERBUND Services GmbH and of VERBUND Business Solutions GmbH |
Equity interests | Equity interest in KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft |
Key performance indicators - segment reporting | \u00a0 |
EBITDA | Internal measure of performance for each operating segment. Transactions between operating segments are carried out at arm's length. |
Result from interests accounted for using the equity method | Assessment of the Equity interest segment |
Capital employed | Total assets less those assets that do not (yet) contribute to the production and commercialisation process, less non-interest-bearing debt. |
Measurement of contracts with customers in accordance with IFRS\u00a015 | |||
Type of contract | Contracts with customers for the delivery of electricity and gas | Contracts with customers as a result of operating the Austrian electricity transmission network | Contracts with customers as a result of operating the Austrian gas transmission pipeline and distribution network |
Performance/ consideration | The consideration received for contracts for the delivery of electricity and gas comprises a capacity price and an energy price. The capacity price is independent of volume, whereas the energy price depends on the volume of electricity and gas purchased. | Performance obligations mainly comprise system energy, control power and balancing energy as well as congestion management and redispatch services. The consideration received for these performance obligations depends largely on the electricity consumed by the customer and the costs incurred by VERBUND for the respective obligation. | Performance obligations comprise the marketing and provision of transportation capacities at border crossing points, i.e. entry and exit capacities, and the marketing and provision of transportation capacities for natural gas needed in Austria as well as dispatching and other services. |
Revenue recognition | Revenue is recognised as soon as control over the goods or services has passed to the customer. Control is transferred over the period in which the performance obligation is fulfilled. Revenue is recognised in the amount in which VERBUND has fulfilled its obligations with respect to the delivery of electricity and gas (i.e. the customer could purchase electricity or gas at any given time or has already done so) and a right to invoice for performance completed to date has been established. | Revenue is recognised in the amount in which VERBUND has a right to invoice for performance completed to date. Control is transferred over the period in which the performance obligation is fulfilled. | Revenue is recognised in the amount in which VERBUND has a right to invoice for performance completed to date. Control is transferred over the period in which the performance obligation is fulfilled. |
Special circumstances | Some contracts for the delivery of electricity and gas involve passing on grid costs to customers (without a surcharge). Since VERBUND does not have any control over grid services prior to transfer to the customer, VERBUND should be regarded as an agent with respect to these services. Therefore, no revenue is recognised for grid services. | none | none |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Useful life | In years |
Residential, office, plant and other plant facilities | 10 \u2013\u00a050 |
Hydraulic structures | 20 \u2013\u00a0100 |
Gas pipelines | 30 |
Machinery | 10 \u2013\u00a080 |
Electrical installations | 3 \u2013\u00a050 |
Power lines | 50 |
Operating and office equipment | 4 \u2013\u00a010 |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Valuation techniques and input factors for determining fair values | \u00a0 | ||
Level | Financial Instruments | Valuation technique | Input factor |
1 | Energy forwards | Market approach | Settlement price published by the stock exchange |
1 | Securities, other equity interest in Burgenland Holding AG | Market approach | Stock exchange price |
2 | Securities and other loans under closed items on the balance sheet, non-current loans, liabilities to banks, bonds and other financial liabilities | Net present value approach | Payments associated with the financial instruments, yield curve, credit risk of the contracting parties (credit default swaps or credit spread curves) |
2 | Interests in unconsolidated subsidiaries, other equity interest in Energie AG Ober\u00f6sterreich, among others | Market approach | Trading multiple, transaction price |
2 | Non-listed energy forwards | Net present value approach | Forward price curve derived from stock exchange, yield curve, credit risk of the contracting parties |
2 | Other assets and liabilities measured at fair value in the finance area | Net present value approach | Cash flows already fixed or determined via forward rates, yield curve, credit risk of the contracting parties |
3 | Return obligation (obligation to transfer back the 50% interest acquired in Donaukraftwerk Jochenstein AG) | Net present value approach | Price forecasts for electricity, weighted average cost of capital after taxes |
3 | Securities (shares of Wiener B\u00f6rse AG) | Net present value approach | Expected distribution of profits, cost of equity |
3 | Other non-current receivables (profit participation right with respect to material assets of TAG) | Net present value approach | Expected distribution of profits, cost of equity |
AC | Other shares in unconsolidated subsidiaries, other equity interests and securities | \u2013 | Cost as the best estimate of fair value |
\u2013 | Cash and cash equivalents, trade receivables and payables, other current receivables, other borrowing within current credit lines as well as other current liabilities | \u2013 | Carrying amount as the best estimate of fair value |
Components of net gains or losses | \u00a0 |
Measurement category | Remark |
Financial assets and liabilities measured at fair value through profit or loss | The net gains or losses arose from the measurement of derivative financial instruments in the energy area (wholesale and trading) in the operating result, as well as from the measurement of (other) derivative and non-derivative financial instruments in the finance area in the other financial result |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | The net gains or losses arose from the measurement of financial liabilities to banks (closed items on the balance sheet). These gains and losses are offset by net gains and losses from financial assets and liabilities measured at fair value through profit or loss and net gains and losses from financial assets and liabilities measured at cost in the corresponding amounts. |
Financial assets and liabilities measured at amortised cost | The net gains and losses relate primarily to financial instruments associated with closed items on the balance sheet in the other financial result as well as to valuation allowances on trade receivables in the operating result. |
Impairment of assets | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Stage 1 | Stage 2 | Stage 3 |
Credit risk | Low credit risk \u2013 (credit risk has not increased significantly since initial recognition) | Elevated credit risk \u2013 (credit risk has increased significantly since initial recognition) | Significant financial difficulties on the part of the borrower or the issuer (breach of contract) |
Recognition of loss allowance | Impairment in the amount of the 12-month expected losses | Impairment in the amount of expected lifetime losses | Impairment in the amount of expected lifetime losses |
Calculation of interest income | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the net carrying amount |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Scope of consolidation | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Consolidated | Accounted for using the equity method | Accounted for as a joint operation |
As at 31/12/2023 | 57 | 8 | 1 |
Additions from newly formed entities | 1 | 0 | 0 |
Change in consolidation method | 0 | \u2013\u00a01 | 0 |
Other additions | 10 | 2 | 0 |
Disposals by means of merger | \u2013\u00a05 | 0 | 0 |
As at 31/12/2024 | 63 | 9 | 1 |
of which domestic companies | 22 | 6 | 1 |
of which foreign companies | 41 | 3 | 0 |
Acquisitions of groups of assets 2024 \u00a0 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Austria | 22.9 | 0.8 | 28.8 | 0.0 |
Wind parks acquired in Germany | 21.1 | 5.4 | 72.1 | 43.8 |
Photovoltaic projects under construction in Italy | 10.0 | 0.0 | 15.5 | 0.0 |
Acquisitions of groups of assets 2023 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Spain | 482.6 | 6.5 | 475.9 | 0.0 |
Scope of consolidation | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Consolidated | Accounted for using the equity method | Accounted for as a joint operation |
As at 31/12/2023 | 57 | 8 | 1 |
Additions from newly formed entities | 1 | 0 | 0 |
Change in consolidation method | 0 | \u2013\u00a01 | 0 |
Other additions | 10 | 2 | 0 |
Disposals by means of merger | \u2013\u00a05 | 0 | 0 |
As at 31/12/2024 | 63 | 9 | 1 |
of which domestic companies | 22 | 6 | 1 |
of which foreign companies | 41 | 3 | 0 |
Acquisitions of groups of assets 2024 \u00a0 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Austria | 22.9 | 0.8 | 28.8 | 0.0 |
Wind parks acquired in Germany | 21.1 | 5.4 | 72.1 | 43.8 |
Photovoltaic projects under construction in Italy | 10.0 | 0.0 | 15.5 | 0.0 |
Acquisitions of groups of assets 2023 | \u20acm | |||
\u00a0 | Cash purchase price | Cash and cash equivalents acquired | Assets acquired | Financial liabilities acquired |
Wind parks acquired in Spain | 482.6 | 6.5 | 475.9 | 0.0 |
Other result from equity interests | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Income from equity interests and unconsolidated subsidiaries | 8.5 | 10.9 |
Other | \u2013\u00a00.4 | 0.0 |
Other result from equity interests | 8.0 | 10.9 |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.9m \u20ac+\u00a00.9m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.6m \u20ac+\u00a00.6m |
Interests accounted for using the equity method | \u20acm | |
\u00a0 | 2023 | 2024 |
Amortised cost as at 1/1 | 425.4 | 549.9 |
Additions1 | 5.4 | 17.7 |
Dividends2 | 9.5 | \u2013\u00a015.6 |
Result from equity accounting | 84.9 | 101.3 |
Other comprehensive income from equity accounting | 24.7 | 2.2 |
Change in consolidation method | 0.0 | \u2013\u00a02.7 |
Amortised cost as at 31/12 | 549.9 | 652.6 |
Accumulated value adjustments as at 1/1 | \u2013\u00a059.8 | \u2013\u00a033.1 |
Reversals of impairment losses | 26.6 | 13.5 |
Accumulated value adjustments as at 31/12 | \u2013\u00a033.1 | \u2013\u00a019.7 |
Net carrying amount as at 31/12 | 516.7 | 633.0 |
Net carrying amount as at 1/1 | 365.5 | 516.7 |
Other equity interests | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Interests in unconsolidated subsidiaries | Other equity interests | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
(Amortised) cost as at 1/1 | 35.6 | 144.1 | 179.7 |
Additions from acquisitions of interests and capital increases | 44.3 | 15.8 | 60.1 |
Disposals | \u2013\u00a026.1 | 0.0 | \u2013\u00a026.1 |
(Amortised) cost as at 31/12 | 53.8 | 159.9 | 213.7 |
Accumulated value adjustments as at 1/1 | \u2013\u00a05.2 | 53.0 | 47.8 |
Fair value measurement in OCI | 1.0 | \u2013\u00a06.3 | \u2013\u00a05.3 |
Reversals of impairment losses | 0.1 | 0.0 | 0.1 |
Disposals | 15.7 | 0.0 | 15.7 |
Accumulated value adjustments as at 31/12 | 11.6 | 46.7 | 58.3 |
Net carrying amount as at 31/12 | 65.4 | 206.6 | 272.0 |
Net carrying amount as at 1/1 | 30.4 | 197.1 | 227.5 |
Other equity interests | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Interests in unconsolidated subsidiaries | Other equity interests | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
(Amortised) cost as at 1/1 | 17.8 | 143.2 | 161.0 |
Change in the scope of consolidation | \u2013\u00a05.0 | 0.0 | \u2013\u00a05.0 |
Additions from acquisitions of interests and capital increases | 22.8 | 1.5 | 24.3 |
Disposals | 0.0 | \u2013\u00a00.6 | \u2013\u00a00.6 |
(Amortised) cost as at 31/12 | 35.6 | 144.1 | 179.7 |
Accumulated value adjustments as at 1/1 | 11.2 | 20.5 | 31.7 |
Fair value measurement in OCI | \u2013\u00a00.6 | 32.5 | 31.9 |
Impairment losses | \u2013\u00a015.8 | 0.0 | \u2013\u00a015.8 |
Accumulated value adjustments as at 31/12 | \u2013\u00a05.2 | 53.0 | 47.8 |
Net carrying amount as at 31/12 | 30.4 | 197.1 | 227.5 |
Net carrying amount as at 1/1 | 29.0 | 163.7 | 192.7 |
Material associates: statement of comprehensive income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Revenue | 2,673.4 | 1,928.9 |
Profit after tax | 432.1 | 456.3 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Profit or loss for the period attributable to VERBUND | 152.0 | 160.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Share of profit or loss from associates accounted for using the equity method | 78.2 | 100.5 |
\u00a0 | \u00a0 | \u00a0 |
Profit after tax | 432.1 | 456.3 |
Other comprehensive income | 70.2 | 4.0 |
Total comprehensive income for the period | 502.3 | 460.2 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Total comprehensive income for the period attributable to VERBUND | 176.6 | 161.8 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Total comprehensive income for the period from associates accounted for using the equity method | 102.9 | 101.9 |
Dividends received from associates | 35.2 | 80.9 |
Material associates: balance sheet | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Non-current assets | 2,319.6 | 2,428.1 |
Current assets | 1,023.8 | 1,032.1 |
Non-current liabilities | \u2013\u00a01,117.1 | \u2013\u00a01,102.2 |
Current liabilities | \u2013\u00a0689.4 | \u2013\u00a0586.5 |
Equity attributable to non-controlling interests | \u2013\u00a014.4 | \u2013\u00a018.7 |
Net assets | 1,522.5 | 1,752.8 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Net assets attributable to VERBUND | 535.4 | 616.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a0127.5 | \u2013\u00a0120.0 |
Carrying amount of associates accounted for using the equity method | 407.9 | 496.3 |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Foreign exchange rates used for currency translation | \u00a0 | ||||
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 | 2023 | 2024 |
Country | Currency | Closing rate | Closing rate | Average rate | Average rate |
Romania | \u20ac1 = RON | 4.9746 | 4.9741 | 4.9516 | 4.9748 |
Foreign exchange rates used for currency translation | \u00a0 | ||||
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 | 2023 | 2024 |
Country | Currency | Closing rate | Closing rate | Average rate | Average rate |
Romania | \u20ac1 = RON | 4.9746 | 4.9741 | 4.9516 | 4.9748 |
Breakdown of OCI | \u20acm | |
\u00a0 | 2023 | 2024 |
Measurement gains or losses recognised in equity | \u2013\u00a01.5 | 0.6 |
Foreign exchange differences | \u2013\u00a01.5 | 0.6 |
Measurement gains or losses recognised in equity | 1,141.5 | \u2013\u00a0108.1 |
Reclassification adjustments recognised in the income statement | 1,008.5 | \u2013\u00a0397.3 |
Changes in cash flow hedges | 2,150.1 | \u2013\u00a0505.6 |
Measurement gains or losses recognised in equity | 30.6 | 7.2 |
Other comprehensive income from interests accounted for using the equity method | 30.6 | 7.2 |
Total for items that will be reclassified subsequently to the income statement | 2,179.2 | \u2013\u00a0497.8 |
Taxes on other comprehensive income | \u20acm | |||||
\u00a0 | 2023 | 2023 | 2023 | 2024 | 2024 | 2024 |
\u00a0 | Before taxes | Taxes | After taxes | Before taxes | Taxes | After taxes |
Remeasurement of the net defined benefit liability | \u2013\u00a030.6 | 7.6 | \u2013\u00a023.0 | \u2013\u00a053.6 | 12.1 | \u2013\u00a041.5 |
Changes in financial instruments | 32.7 | \u2013\u00a07.5 | 25.2 | \u2013\u00a04.2 | 1.0 | \u2013\u00a03.2 |
Other comprehensive income from interests accounted for using the equity method | \u2013\u00a05.2 | \u2013 | \u2013\u00a05.2 | \u2013\u00a05.8 | \u2013 | \u2013\u00a05.8 |
Total for items that will not be reclassified subsequently to the income statement | \u2013\u00a03.2 | 0.1 | \u2013\u00a03.1 | \u2013\u00a063.6 | 13.0 | \u2013\u00a050.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Foreign exchange differences | \u2013\u00a01.5 | \u2013 | \u2013\u00a01.5 | 0.6 | \u2013 | 0.6 |
Changes in cash flow hedges | 2,150.1 | \u2013\u00a0503.3 | 1,646.8 | \u2013\u00a0505.6 | 116.4 | \u2013\u00a0389.2 |
Other comprehensive income from interests accounted for using the equity method | 30.6 | \u2013 | 30.6 | 7.2 | \u2013 | 7.2 |
Total for items that will be reclassified subsequently to the income statement | 2,179.2 | \u2013\u00a0503.3 | 1,675.9 | \u2013\u00a0497.8 | 116.4 | \u2013\u00a0381.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Other comprehensive income | 2,176.0 | \u2013\u00a0503.2 | 1,672.8 | \u2013\u00a0561.4 | 129.4 | \u2013\u00a0432.0 |
2025 Group result: sensitivities | \u00a0 | \u20acm |
\u00a0 | +\u00a01% | \u2013\u00a01% |
Generation from hydropower | 15.8 | \u2013\u00a015.8 |
Wind power and photovoltaic generation | 1.9 | \u2013\u00a01.9 |
Discretionary decisions and assumptions regarding the future | \u00a0 |
Assessing whether a purchase transaction constitutes an acquisition of a business or an acquisition of assets or a group of assets | Section 1.2 |
Estimation of the terms of leases | Section 4.3 |
Determination of the discount rate for impairment testing | Section 4.4 |
Determination of the estimated future cash flows for impairment testing of goodwill | Section 4.4.1 |
Determination of estimated future cash flows for impairment testing of power plants and grid infrastructure | Section 4.4.2 |
Measurement parameters of financial instruments measured at fair value under Level 3 | Section 5.1.1 |
Determination of the discount rate for the measurement of pensions and similar obligations as well as statutory termination benefits | Section 9.2 |
Determination of measurement parameters for other provisions | Section 9.3 |
Determination of the likelihood of contingent liabilities materialising | Section 13.1 |
Evaluation of whether other entities are controlled or jointly managed by VERBUND or whether VERBUND can exert a significant influence on another entity or whether an entity represents a joint operation of VERBUND | Section 13.4 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for SMATRICS GmbH & Co KG as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 11.75% | \u00b1 0.25 PP | \u20ac\u20134.2m \u20ac+\u00a04.4m |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for Solarpower as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u20131.8m \u20ac+2.0m |
Sensitivity analysis for Solarpower as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac\u20131.3m \u20ac+1.4m |
Impairment testing of Gas Connect Austria GmbH, including Austrian Gas Grid Management AG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | GCA\u2019s transmission system and distribution network, including AGGM | GCA\u2019s transmission system and distribution network, including AGGM |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | GCA budgets (based primarily on market data) | GCA budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 21 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 6 years; rough planning phase: 20 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac444.4m | \u20ac344.8m |
Change in value during the period1 | \u20ac\u201356.9m | \u20ac\u2013172.4m |
Sensitivity analysis for GCA (including AGGM) as at 31/12/2024\u00a0 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a05.9m \u20ac\u2013\u00a06.2m |
Sensitivity analysis for GCA incl. AGGM 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a06.0m \u20ac\u2013\u00a06.0m |
Impairment testing of the Mellach combined cycle gas turbine power plant | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) |
Indications of impairment | Updated electricity or gas price forecasts | Updated electricity or gas price forecasts |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) |
Volume | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) |
Pricing | Internal and external price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter for one line (Q4/2023 to Q1/2024); estimate of operating, maintenance and downtime costs by the responsible managers | External price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter until Q1/2027; estimate of operating, maintenance and downtime costs by the responsible managers |
Planning period | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) |
Key valuation assumptions | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, performance of clean spark spreads | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, development of clean spark spreads |
After-tax discount rate | WACC: 6.25% | WACC: 5.50% |
Recoverable amount | \u20ac161.3m | \u20ac90.9m |
Change in value during the period1 | \u20ac\u201363.0m | \u20ac\u201366.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac+4.4m \u20ac\u20134.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac+2.9m \u20ac\u20132.9m |
Impairment testing of existing projects in the Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | PV portfolios with a capacity of 82.1\u00a0MWp in operation (Anselma Issuer, S.A.U. and Topacio Energy, S.L.U.) | Wind/photovoltaic portfolios with a capacity of 174.1\u00a0MWp in operation (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Tariffs for the next 14\u201317 years, followed by internal price forecasts | Tariffs for the next 13\u201316 years, followed by internal price forecasts (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U.) or internal price forecasts only (VERBUND Green Power Renewable Projects, S.L.U.) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 13 \u201314 years for the Anselma Issuer, S.A.U. portfolio and 13\u201316 years for the Topacio Energy, S.L.U. portfolio. | Detailed planning phase: 6 years; rough planning phase: 12 \u201313 years for the Anselma Issuer, S.A.U. portfolio, 12\u201315 years for the Topacio Energy, S.L.U. portfolio and 29 years for the VERBUND Green Power Renewable Projects, S.L.U. portfolio. |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac348.8m | \u20ac438.9m |
Change in value during the period3 | \u20ac+29.9 | \u20ac\u2013\u00a07.2m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/20241 | |||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio | Effects on the recoverable amount of the VERBUND Green Power Renewable Projects, S.L.U. portfolio |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u20132.3m \u20ac+2.3m | \u20ac\u20133.1m \u20ac+3.2m | \u20ac\u20131.3m \u20ac+1.4m |
Electricity price2 | 37.0 \u20ac pro MWh (PV) / 76.4 \u20ac pro MWh (Wind) | \u00b1 5% | n/a | n/a | \u20ac+2.4m \u20ac\u20132.4m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/2023\u00a0 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u20132.0m \u20ac+2.0m | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | n/a | n/a | n/a | n/a |
Impairment testing of development projects in Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Wind/photovoltaic portfolios with a capacity of 1,827\u00a0MW under development (Tejo Solar, S.L.U, Catalpa Solar, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.) | Photovoltaic portfolios with a capacity of 1,576.7 \u00a0MW under development (Tejo Solar, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts, increase in CapEx and postponement of commissioning | Updated electricity price forecasts, updated discount rate, increase in CapEx and postponement of commissioning |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years (PV), 24\u00a0years (wind) | Detailed planning phase: 6 years; rough planning phase: 29 years (PV) |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac202.2m | \u20ac222.4m |
Change in value during the period3 | \u20ac\u2013\u00a0204.1m | \u20ac+\u00a064.5m |
| |||||||||||||||||||||
Sensitivity analysis for development projects in the Spain renewables portfolio as at 31/12/2023 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount of Catalpa Solar, S.L.U. portfolio | Effects on the recoverable amount of Tejo Solar, S.L.U. portfolio |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a04.0m \u20ac+\u00a04.0m | \u20ac\u2013\u00a023.0m \u20ac+\u00a023.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+\u00a09.0m \u20ac\u2013\u00a09.0m | \u20ac+\u00a048.0m \u20ac\u2013\u00a048.0m |
Impairment testing of the Spain photovoltaic portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years | Detailed planning phase: 6 years; rough planning phase: 28 years |
Key valuation assumptions | Discount rate | Discount rate |
After-tax discount rate1 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac105.6m | \u20ac95.7m |
Change in value during the period | \u20ac\u201125.0m | \u20ac\u2013\u00a08.3m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a03.2m \u20ac+\u00a03.3m |
Electricity price2 | \u20ac37.0 per MWh | \u00b1 5% | \u20ac+\u00a06.1m \u20ac\u2013\u00a06.1m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+6.0m \u20ac\u20136.0m |
Impairment testing of the Spain wind portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) |
Basis for recoverable amount | Fair value (Level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Price | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 50 years | Detailed planning phase: 6 years; rough planning phase: 49 years |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac438.1m | \u20ac431.2m |
Change in value during the period | \u20ac\u201354.0m | \u20ac+\u00a011.6m |
Sensitivity analysis for the Spain wind portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a016.0m \u20ac+\u00a017.2m |
Electricity price2 | n/a | n/a | n/a |
Sensitivity analysis for the Spain wind portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u201313.0m \u20ac+14.0m |
Electricity price | n/a | n/a | n/a |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Discretionary decisions and assumptions regarding the future | \u00a0 |
Assessing whether a purchase transaction constitutes an acquisition of a business or an acquisition of assets or a group of assets | Section 1.2 |
Estimation of the terms of leases | Section 4.3 |
Determination of the discount rate for impairment testing | Section 4.4 |
Determination of the estimated future cash flows for impairment testing of goodwill | Section 4.4.1 |
Determination of estimated future cash flows for impairment testing of power plants and grid infrastructure | Section 4.4.2 |
Measurement parameters of financial instruments measured at fair value under Level 3 | Section 5.1.1 |
Determination of the discount rate for the measurement of pensions and similar obligations as well as statutory termination benefits | Section 9.2 |
Determination of measurement parameters for other provisions | Section 9.3 |
Determination of the likelihood of contingent liabilities materialising | Section 13.1 |
Evaluation of whether other entities are controlled or jointly managed by VERBUND or whether VERBUND can exert a significant influence on another entity or whether an entity represents a joint operation of VERBUND | Section 13.4 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for SMATRICS GmbH & Co KG as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 11.75% | \u00b1 0.25 PP | \u20ac\u20134.2m \u20ac+\u00a04.4m |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for Solarpower as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u20131.8m \u20ac+2.0m |
Sensitivity analysis for Solarpower as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac\u20131.3m \u20ac+1.4m |
Impairment testing of Gas Connect Austria GmbH, including Austrian Gas Grid Management AG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | GCA\u2019s transmission system and distribution network, including AGGM | GCA\u2019s transmission system and distribution network, including AGGM |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | GCA budgets (based primarily on market data) | GCA budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 21 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 6 years; rough planning phase: 20 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac444.4m | \u20ac344.8m |
Change in value during the period1 | \u20ac\u201356.9m | \u20ac\u2013172.4m |
Sensitivity analysis for GCA (including AGGM) as at 31/12/2024\u00a0 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a05.9m \u20ac\u2013\u00a06.2m |
Sensitivity analysis for GCA incl. AGGM 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a06.0m \u20ac\u2013\u00a06.0m |
Impairment testing of the Mellach combined cycle gas turbine power plant | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) |
Indications of impairment | Updated electricity or gas price forecasts | Updated electricity or gas price forecasts |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) |
Volume | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) |
Pricing | Internal and external price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter for one line (Q4/2023 to Q1/2024); estimate of operating, maintenance and downtime costs by the responsible managers | External price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter until Q1/2027; estimate of operating, maintenance and downtime costs by the responsible managers |
Planning period | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) |
Key valuation assumptions | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, performance of clean spark spreads | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, development of clean spark spreads |
After-tax discount rate | WACC: 6.25% | WACC: 5.50% |
Recoverable amount | \u20ac161.3m | \u20ac90.9m |
Change in value during the period1 | \u20ac\u201363.0m | \u20ac\u201366.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac+4.4m \u20ac\u20134.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac+2.9m \u20ac\u20132.9m |
Impairment testing of existing projects in the Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | PV portfolios with a capacity of 82.1\u00a0MWp in operation (Anselma Issuer, S.A.U. and Topacio Energy, S.L.U.) | Wind/photovoltaic portfolios with a capacity of 174.1\u00a0MWp in operation (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Tariffs for the next 14\u201317 years, followed by internal price forecasts | Tariffs for the next 13\u201316 years, followed by internal price forecasts (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U.) or internal price forecasts only (VERBUND Green Power Renewable Projects, S.L.U.) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 13 \u201314 years for the Anselma Issuer, S.A.U. portfolio and 13\u201316 years for the Topacio Energy, S.L.U. portfolio. | Detailed planning phase: 6 years; rough planning phase: 12 \u201313 years for the Anselma Issuer, S.A.U. portfolio, 12\u201315 years for the Topacio Energy, S.L.U. portfolio and 29 years for the VERBUND Green Power Renewable Projects, S.L.U. portfolio. |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac348.8m | \u20ac438.9m |
Change in value during the period3 | \u20ac+29.9 | \u20ac\u2013\u00a07.2m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/20241 | |||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio | Effects on the recoverable amount of the VERBUND Green Power Renewable Projects, S.L.U. portfolio |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u20132.3m \u20ac+2.3m | \u20ac\u20133.1m \u20ac+3.2m | \u20ac\u20131.3m \u20ac+1.4m |
Electricity price2 | 37.0 \u20ac pro MWh (PV) / 76.4 \u20ac pro MWh (Wind) | \u00b1 5% | n/a | n/a | \u20ac+2.4m \u20ac\u20132.4m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/2023\u00a0 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u20132.0m \u20ac+2.0m | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | n/a | n/a | n/a | n/a |
Impairment testing of development projects in Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Wind/photovoltaic portfolios with a capacity of 1,827\u00a0MW under development (Tejo Solar, S.L.U, Catalpa Solar, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.) | Photovoltaic portfolios with a capacity of 1,576.7 \u00a0MW under development (Tejo Solar, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts, increase in CapEx and postponement of commissioning | Updated electricity price forecasts, updated discount rate, increase in CapEx and postponement of commissioning |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years (PV), 24\u00a0years (wind) | Detailed planning phase: 6 years; rough planning phase: 29 years (PV) |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac202.2m | \u20ac222.4m |
Change in value during the period3 | \u20ac\u2013\u00a0204.1m | \u20ac+\u00a064.5m |
| |||||||||||||||||||||
Sensitivity analysis for development projects in the Spain renewables portfolio as at 31/12/2023 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount of Catalpa Solar, S.L.U. portfolio | Effects on the recoverable amount of Tejo Solar, S.L.U. portfolio |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a04.0m \u20ac+\u00a04.0m | \u20ac\u2013\u00a023.0m \u20ac+\u00a023.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+\u00a09.0m \u20ac\u2013\u00a09.0m | \u20ac+\u00a048.0m \u20ac\u2013\u00a048.0m |
Impairment testing of the Spain photovoltaic portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years | Detailed planning phase: 6 years; rough planning phase: 28 years |
Key valuation assumptions | Discount rate | Discount rate |
After-tax discount rate1 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac105.6m | \u20ac95.7m |
Change in value during the period | \u20ac\u201125.0m | \u20ac\u2013\u00a08.3m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a03.2m \u20ac+\u00a03.3m |
Electricity price2 | \u20ac37.0 per MWh | \u00b1 5% | \u20ac+\u00a06.1m \u20ac\u2013\u00a06.1m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+6.0m \u20ac\u20136.0m |
Impairment testing of the Spain wind portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) |
Basis for recoverable amount | Fair value (Level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Price | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 50 years | Detailed planning phase: 6 years; rough planning phase: 49 years |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac438.1m | \u20ac431.2m |
Change in value during the period | \u20ac\u201354.0m | \u20ac+\u00a011.6m |
Sensitivity analysis for the Spain wind portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a016.0m \u20ac+\u00a017.2m |
Electricity price2 | n/a | n/a | n/a |
Sensitivity analysis for the Spain wind portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u201313.0m \u20ac+14.0m |
Electricity price | n/a | n/a | n/a |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Definition of operating segments | \u00a0 |
Hydro | Generation from hydropower |
New renewables | Generation from wind power, photovoltaic systems and flexible storage systems |
Sales | Trading and sales activities as well as business activities related to battery storage systems in the core market |
Grid | Regulated activities of Austrian Power Grid AG, Gas Connect Austria GmbH and Austrian Gas Grid Management AG |
All other segments | \u00a0 |
Thermal generation | Electricity and thermal generation of VERBUND Thermal Power GmbH & Co KG |
Services | Business activities of VERBUND Services GmbH and of VERBUND Business Solutions GmbH |
Equity interests | Equity interest in KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft |
Key performance indicators - segment reporting | \u00a0 |
EBITDA | Internal measure of performance for each operating segment. Transactions between operating segments are carried out at arm's length. |
Result from interests accounted for using the equity method | Assessment of the Equity interest segment |
Capital employed | Total assets less those assets that do not (yet) contribute to the production and commercialisation process, less non-interest-bearing debt. |
Operating segment data | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Hydro | New renewables | Sales | Grid | All other segments | Recon-ciliation/ consoli- dation | Group total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
External revenue | 203.5 | 270.6 | 6,355.5 | 1,384.6 | 26.6 | 3.7 | 8,244.6 |
Internal revenue | 3,370.7 | 53.4 | 411.0 | 164.8 | 433.1 | \u2013\u00a04,433.0 | 0.0 |
Total revenue | 3,574.2 | 324.0 | 6,766.5 | 1,549.4 | 459.7 | \u2013\u00a04,429.2 | 8,244.6 |
Expenses for electricity, grid, gas and certificate procurement | \u2013\u00a0210.2 | \u2013\u00a081.1 | \u2013\u00a06,719.5 | \u2013\u00a0883.2 | \u2013\u00a010.0 | 4,231.9 | \u2013\u00a03,672.2 |
EBITDA | 2,969.5 | 169.6 | 6.9 | 370.0 | 35.4 | \u2013\u00a071.1 | 3,480.3 |
Depreciation and amortisation | \u2013\u00a0233.2 | \u2013\u00a0125.7 | \u2013\u00a09.2 | \u2013\u00a0181.6 | \u2013\u00a023.6 | \u2013\u00a04.5 | \u2013\u00a0577.8 |
Effects from impairment tests (operating result) | 1.3 | 60.6 | 0.0 | \u2013\u00a0172.4 | \u2013\u00a066.1 | 0.0 | \u2013\u00a0176.6 |
Other material non-cash items | 37.8 | 2.6 | \u2013\u00a019.7 | 10.7 | \u2013\u00a043.7 | \u2013\u00a053.2 | \u2013\u00a065.5 |
Result from interests accounted for using the equity method | 0.8 | 1.3 | 0.2 | \u2013\u00a01.4 | 100.5 | 0.0 | 101.3 |
Effects from impairment tests (financial result) | 0.0 | 0.0 | 0.0 | 13.5 | 0.0 | 0.1 | 13.6 |
Capital employed | 6,105.3 | 1,954.3 | 794.0 | 2,690.9 | 713.6 | \u2013\u00a027.0 | 12,231.1 |
of which carrying amount of interests accounted for using the equity method | 35.2 | 8.5 | 30.0 | 63.0 | 496.3 | 0.0 | 633.0 |
Additions to intangible assets and property, plant and equipment1 | 462.7 | 215.3 | 32.9 | 472.7 | 28.2 | 12.7 | 1,224.6 |
Additions to interests accounted for using the equity method | 0.0 | 8.5 | 9.2 | 0.0 | 0.0 | 0.0 | 17.7 |
Operating segment data | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Hydro | New renewables | Sales | Grid | All other segments | Recon-ciliation/ consoli- dation | Group total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
External revenue | 235.9 | 247.3 | 7,607.1 | 2,339.8 | 15.7 | 3.7 | 10,449.5 |
Internal revenue | 4,250.0 | 81.0 | 670.5 | 156.6 | 497.5 | \u2013\u00a05,655.7 | 0.0 |
Total revenue | 4,485.9 | 328.3 | 8,277.6 | 2,496.4 | 513.2 | \u2013\u00a05,651.9 | 10,449.5 |
Expenses for electricity, grid, gas and certificate procurement | \u2013\u00a0209.2 | \u2013\u00a072.2 | \u2013\u00a08,856.7 | \u2013\u00a01,630.6 | \u2013\u00a025.6 | 5,560.0 | \u2013\u00a05,234.3 |
EBITDA | 3,856.4 | 227.6 | \u2013\u00a0196.9 | 579.1 | 89.5 | \u2013\u00a065.1 | 4,490.5 |
Depreciation and amortisation | \u2013\u00a0234.1 | \u2013\u00a089.9 | \u2013\u00a05.0 | \u2013\u00a0181.9 | \u2013\u00a022.9 | \u2013\u00a03.1 | \u2013\u00a0537.0 |
Effects from impairment tests (operating result) | 0.0 | \u2013\u00a0331.7 | 0.0 | \u2013\u00a056.9 | \u2013\u00a063.0 | 0.0 | \u2013\u00a0451.6 |
Other material non-cash items | \u2013\u00a025.5 | 25.3 | \u2013\u00a077.6 | 14.8 | \u2013\u00a041.9 | 1.6 | \u2013\u00a0103.3 |
Result from interests accounted for using the equity method | 0.7 | 0.6 | \u2013\u00a00.6 | 6.0 | 78.2 | 0.0 | 84.9 |
Effects from impairment tests (financial result) | 12.7 | 0.0 | 0.0 | 14.0 | 0.0 | \u2013\u00a015.8 | 10.8 |
Capital employed | 5,957.9 | 1,643.2 | 585.4 | 2,762.3 | 674.4 | \u2013\u00a0413.8 | 11,209.3 |
of which carrying amount of interests accounted for using the equity method | 35.8 | 1.5 | 20.5 | 51.0 | 407.9 | 0.0 | 516.7 |
Additions to intangible assets and property, plant and equipment | 393.7 | 572.2 | 23.8 | 513.9 | 25.5 | 13.6 | 1,542.8 |
Additions to interests accounted for using the equity method | 0.0 | 0.0 | 5.4 | 0.0 | 0.0 | 0.0 | 5.4 |
Reconciliation of total capital employed to total assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Capital employed | 11,209.3 | 12,231.1 |
Assets not used in the production and commercialisation process | 3,891.0 | 2,578.4 |
Non-interest-bearing debt | 4,384.9 | 3,908.8 |
Total assets of VERBUND | 19,485.3 | 18,718.3 |
Geographical segment reporting: non-current assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Intangible assets and property, plant and equipment | 13,698.1 | 14,175.1 |
of which in Austria | 9,415.2 | 9,777.8 |
of which in Germany | 2,699.6 | 2,747.6 |
of which in Spain | 1,394.6 | 1,450.7 |
of which in other EU countries | 188.7 | 199.0 |
Interests accounted for using the equity method | 516.7 | 633.0 |
of which in Austria | 464.4 | 562.9 |
of which in Germany | 20.5 | 30.0 |
of which in Spain | 0.0 | 8.5 |
of which in other countries1 | 31.7 | 31.6 |
Definition of operating segments | \u00a0 |
Hydro | Generation from hydropower |
New renewables | Generation from wind power, photovoltaic systems and flexible storage systems |
Sales | Trading and sales activities as well as business activities related to battery storage systems in the core market |
Grid | Regulated activities of Austrian Power Grid AG, Gas Connect Austria GmbH and Austrian Gas Grid Management AG |
All other segments | \u00a0 |
Thermal generation | Electricity and thermal generation of VERBUND Thermal Power GmbH & Co KG |
Services | Business activities of VERBUND Services GmbH and of VERBUND Business Solutions GmbH |
Equity interests | Equity interest in KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft |
Key performance indicators - segment reporting | \u00a0 |
EBITDA | Internal measure of performance for each operating segment. Transactions between operating segments are carried out at arm's length. |
Result from interests accounted for using the equity method | Assessment of the Equity interest segment |
Capital employed | Total assets less those assets that do not (yet) contribute to the production and commercialisation process, less non-interest-bearing debt. |
Revenue from contracts with customers | \u00a0 | \u00a0 |
\u00a0 | Period allowed for payment | Significant financing components |
Market participants from energy exchanges, traders and electric utilities | 20 days | No |
Industrial customers | 14\u201360 days | No |
Commercial customers | 14 days | No |
Household customers | 14 days | No |
Revenue from operating the Austrian gas transmission and distribution network | 15 days | No |
Revenue from operating the Austrian electricity transmission network | 14 days | No |
Revenue by segment | \u20acm | |||||
\u00a0 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Domestic | Domestic | Foreign | Foreign | Total | Total |
Electricity revenue from resellers | 93.1 | 87.0 | 116.2 | 85.4 | 209.2 | 172.4 |
Electricity revenue from traders | 0.7 | 19.4 | 17.4 | 0.2 | 18.1 | 19.6 |
Electricity revenue \u2013 Hydro segment | 93.8 | 106.4 | 133.6 | 85.6 | 227.4 | 192.0 |
Electricity revenue from resellers | 0.0 | 0.0 | 91.4 | 119.5 | 91.4 | 119.5 |
Electricity revenue from traders | 0.0 | 11.7 | 48.0 | 42.4 | 48.0 | 54.1 |
Electricity revenue from consumers | 0.0 | 0.0 | 76.6 | 68.5 | 76.6 | 68.5 |
Electricity revenue \u2013 New Renewables segment | 0.0 | 11.7 | 216.0 | 230.4 | 216.0 | 242.2 |
Electricity revenue from resellers | 1,753.9 | 1,012.3 | 1,163.7 | 817.2 | 2,917.6 | 1,829.5 |
Electricity revenue from traders | 993.2 | 1,137.4 | 1,844.1 | 1,692.9 | 2,837.3 | 2,830.4 |
Electricity revenue from consumers | 858.7 | 779.2 | 773.7 | 708.6 | 1,632.4 | 1,487.8 |
Electricity revenue \u2013 Sales segment | 3,605.9 | 2,928.9 | 3,781.5 | 3,218.8 | 7,387.4 | 6,147.7 |
Electricity revenue from resellers | 754.2 | 352.1 | 144.2 | 79.8 | 898.4 | 431.9 |
Electricity revenue from traders | 32.0 | 11.5 | 5.1 | 2.1 | 37.1 | 13.6 |
Electricity revenue \u2013 Grid segment | 786.2 | 363.6 | 149.3 | 81.9 | 935.5 | 445.5 |
Total electricity sales revenue | 4,485.8 | 3,410.6 | 4,280.4 | 3,616.7 | 8,766.3 | 7,027.3 |
Grid revenue: electric utilities | 661.3 | 453.1 | 36.7 | 34.1 | 698.0 | 487.2 |
Grid revenue: industrial customers | 15.4 | 15.7 | 0.0 | 0.0 | 15.4 | 15.7 |
Grid revenue: other | 220.7 | 118.8 | 441.9 | 290.5 | 662.6 | 409.3 |
Total grid revenue \u2013 Grid segment | 897.5 | 587.5 | 478.6 | 324.6 | 1,376.0 | 912.2 |
Other revenue \u2013 Hydro segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 8.6 | 11.5 |
Other revenue \u2013 New Renewables segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 31.3 | 28.4 |
Other revenue \u2013 Sales segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 219.7 | 207.8 |
Other revenue \u2013 Grid segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 28.3 | 27.1 |
Other revenue \u2013 All other segments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 15.7 | 26.6 |
Other revenue \u2013 reconciliation | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 3.7 | 3.7 |
Total other revenue | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 307.2 | 305.1 |
Total revenue | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 10,449.5 | 8,244.6 |
Other revenue | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Sale of guarantees of origin and green electricity certificates | 70.9 | 93.8 |
Sale of gas | 133.9 | 79.7 |
Consulting or planning services as well as other services | 44.2 | 55.6 |
User and management fees | 23.1 | 23.0 |
District heating deliveries | 11.5 | 22.0 |
Other | 23.6 | 31.0 |
Other revenue | 307.2 | 305.1 |
Revenue from contracts with customers | \u00a0 | \u00a0 |
\u00a0 | Period allowed for payment | Significant financing components |
Market participants from energy exchanges, traders and electric utilities | 20 days | No |
Industrial customers | 14\u201360 days | No |
Commercial customers | 14 days | No |
Household customers | 14 days | No |
Revenue from operating the Austrian gas transmission and distribution network | 15 days | No |
Revenue from operating the Austrian electricity transmission network | 14 days | No |
Revenue by segment | \u20acm | |||||
\u00a0 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Domestic | Domestic | Foreign | Foreign | Total | Total |
Electricity revenue from resellers | 93.1 | 87.0 | 116.2 | 85.4 | 209.2 | 172.4 |
Electricity revenue from traders | 0.7 | 19.4 | 17.4 | 0.2 | 18.1 | 19.6 |
Electricity revenue \u2013 Hydro segment | 93.8 | 106.4 | 133.6 | 85.6 | 227.4 | 192.0 |
Electricity revenue from resellers | 0.0 | 0.0 | 91.4 | 119.5 | 91.4 | 119.5 |
Electricity revenue from traders | 0.0 | 11.7 | 48.0 | 42.4 | 48.0 | 54.1 |
Electricity revenue from consumers | 0.0 | 0.0 | 76.6 | 68.5 | 76.6 | 68.5 |
Electricity revenue \u2013 New Renewables segment | 0.0 | 11.7 | 216.0 | 230.4 | 216.0 | 242.2 |
Electricity revenue from resellers | 1,753.9 | 1,012.3 | 1,163.7 | 817.2 | 2,917.6 | 1,829.5 |
Electricity revenue from traders | 993.2 | 1,137.4 | 1,844.1 | 1,692.9 | 2,837.3 | 2,830.4 |
Electricity revenue from consumers | 858.7 | 779.2 | 773.7 | 708.6 | 1,632.4 | 1,487.8 |
Electricity revenue \u2013 Sales segment | 3,605.9 | 2,928.9 | 3,781.5 | 3,218.8 | 7,387.4 | 6,147.7 |
Electricity revenue from resellers | 754.2 | 352.1 | 144.2 | 79.8 | 898.4 | 431.9 |
Electricity revenue from traders | 32.0 | 11.5 | 5.1 | 2.1 | 37.1 | 13.6 |
Electricity revenue \u2013 Grid segment | 786.2 | 363.6 | 149.3 | 81.9 | 935.5 | 445.5 |
Total electricity sales revenue | 4,485.8 | 3,410.6 | 4,280.4 | 3,616.7 | 8,766.3 | 7,027.3 |
Grid revenue: electric utilities | 661.3 | 453.1 | 36.7 | 34.1 | 698.0 | 487.2 |
Grid revenue: industrial customers | 15.4 | 15.7 | 0.0 | 0.0 | 15.4 | 15.7 |
Grid revenue: other | 220.7 | 118.8 | 441.9 | 290.5 | 662.6 | 409.3 |
Total grid revenue \u2013 Grid segment | 897.5 | 587.5 | 478.6 | 324.6 | 1,376.0 | 912.2 |
Other revenue \u2013 Hydro segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 8.6 | 11.5 |
Other revenue \u2013 New Renewables segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 31.3 | 28.4 |
Other revenue \u2013 Sales segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 219.7 | 207.8 |
Other revenue \u2013 Grid segment | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 28.3 | 27.1 |
Other revenue \u2013 All other segments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 15.7 | 26.6 |
Other revenue \u2013 reconciliation | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 3.7 | 3.7 |
Total other revenue | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 307.2 | 305.1 |
Total revenue | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 10,449.5 | 8,244.6 |
Measurement of contracts with customers in accordance with IFRS\u00a015 | |||
Type of contract | Contracts with customers for the delivery of electricity and gas | Contracts with customers as a result of operating the Austrian electricity transmission network | Contracts with customers as a result of operating the Austrian gas transmission pipeline and distribution network |
Performance/ consideration | The consideration received for contracts for the delivery of electricity and gas comprises a capacity price and an energy price. The capacity price is independent of volume, whereas the energy price depends on the volume of electricity and gas purchased. | Performance obligations mainly comprise system energy, control power and balancing energy as well as congestion management and redispatch services. The consideration received for these performance obligations depends largely on the electricity consumed by the customer and the costs incurred by VERBUND for the respective obligation. | Performance obligations comprise the marketing and provision of transportation capacities at border crossing points, i.e. entry and exit capacities, and the marketing and provision of transportation capacities for natural gas needed in Austria as well as dispatching and other services. |
Revenue recognition | Revenue is recognised as soon as control over the goods or services has passed to the customer. Control is transferred over the period in which the performance obligation is fulfilled. Revenue is recognised in the amount in which VERBUND has fulfilled its obligations with respect to the delivery of electricity and gas (i.e. the customer could purchase electricity or gas at any given time or has already done so) and a right to invoice for performance completed to date has been established. | Revenue is recognised in the amount in which VERBUND has a right to invoice for performance completed to date. Control is transferred over the period in which the performance obligation is fulfilled. | Revenue is recognised in the amount in which VERBUND has a right to invoice for performance completed to date. Control is transferred over the period in which the performance obligation is fulfilled. |
Special circumstances | Some contracts for the delivery of electricity and gas involve passing on grid costs to customers (without a surcharge). Since VERBUND does not have any control over grid services prior to transfer to the customer, VERBUND should be regarded as an agent with respect to these services. Therefore, no revenue is recognised for grid services. | none | none |
Other operating income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Changes in inventories and own work capitalised | 61.1 | 86.6 |
Various goods and services | 21.4 | 13.5 |
Income from (insurance) compensation | 3.4 | 6.2 |
Rent and lease income | 2.0 | 1.6 |
Disposal of property, plant and equipment and intangible assets | 1.6 | 0.7 |
Other | 17.0 | 22.4 |
Other operating income | 106.4 | 131.0 |
Other operating income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Changes in inventories and own work capitalised | 61.1 | 86.6 |
Various goods and services | 21.4 | 13.5 |
Income from (insurance) compensation | 3.4 | 6.2 |
Rent and lease income | 2.0 | 1.6 |
Disposal of property, plant and equipment and intangible assets | 1.6 | 0.7 |
Other | 17.0 | 22.4 |
Other operating income | 106.4 | 131.0 |
Other operating expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Third-party maintenance of power plants and line systems | 131.0 | 178.2 |
Other third-party services received | 87.2 | 74.3 |
IT expenses | 56.8 | 63.8 |
Legal, consulting and audit expenses | 26.6 | 30.2 |
Advertising expenses and donations | 23.6 | 23.8 |
Expenses for supervision by E-Control | 17.3 | 23.8 |
Travel expenses, advanced training | 14.7 | 17.0 |
Costs for personnel provided | 13.4 | 11.7 |
Fees | 11.3 | 10.9 |
Compensation payments | 7.2 | 10.4 |
Insurance | 7.9 | 9.3 |
Operating costs | 9.6 | 8.7 |
Materials costs for motor vehicle operation and maintenance | 7.1 | 6.7 |
Rent and lease | 6.0 | 4.6 |
Usage fees | 3.5 | 4.3 |
Purchased telecommunication services | 5.0 | 4.1 |
Membership fees | 3.9 | 4.0 |
Other | 14.4 | 31.1 |
Other operating expenses | 446.5 | 516.8 |
Expenses for electricity, grid, gas and certificate purchases | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Expenses for electricity purchases | 4,984.1 | 3,466.2 |
Expenses for grid purchases | 167.2 | 124.7 |
Expenses for gas purchases | 67.7 | 73.9 |
Expenses for guarantees of origin and green electricity certificate purchases | 12.9 | 7.5 |
Purchase of emission rights (trade) | 2.3 | 0.0 |
Expenses for electricity, grid, gas and certificate purchases | 5,234.3 | 3,672.2 |
Fuel expenses and other usage-/revenue-dependent expenses | \u20acm | |
\u00a0 | 2023 | 2024 |
Natural gas usage | 258.1 | 207.5 |
Other revenue-dependent expenses | 46.6 | 57.4 |
Emission allowances acquired in exchange for consideration | 25.6 | 35.7 |
Windfall tax expenses | 95.1 | 7.7 |
Other usage-dependent expenses | 8.5 | 11.7 |
Fuel expenses and other usage-/revenue-dependent expenses | 433.9 | 319.9 |
Personnel expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Wages and salaries | 377.3 | 445.1 |
Expenses for social security contributions as required by law as well as income-based charges and compulsory contributions | 82.0 | 95.1 |
Other social benefit expenses | 9.0 | 8.6 |
Subtotal | 468.3 | 548.8 |
Expenses for pensions and similar obligations | 15.6 | 16.0 |
Expenses for termination benefits | 5.0 | 6.0 |
Personnel expenses | 488.9 | 570.8 |
Non-current and current provisions | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provisions for pensions | 301.4 | 318.8 | \u2013 | \u2013 |
Provisions for obligations similar to pensions | 105.7 | 120.8 | \u2013 | \u2013 |
Provisions for termination benefits | 90.2 | 89.3 | \u2013 | \u2013 |
Provisions for partial retirement | 2.7 | 2.2 | 1.3 | 1.2 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Other provisions | 39.6 | 55.1 | 40.0 | 18.7 |
Non-current and current provisions | 566.0 | 621.3 | 78.9 | 63.7 |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Reconciliation from defined benefit obligation to provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation covered by plan assets | 230.1 | 245.2 | \u2013 | \u2013 |
Fair value of plan assets | \u2013\u00a0163.0 | \u2013\u00a0164.5 | \u2013 | \u2013 |
Net value of obligations covered by plan assets | 67.1 | 80.7 | \u2013 | \u2013 |
Defined benefit obligation not covered by plan assets | 234.3 | 238.1 | 105.7 | 120.8 |
Carrying amount of provisions as at 31/12 | 301.4 | 318.8 | 105.7 | 120.8 |
Pension expenses | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Net interest expense | 10.6 | 10.6 | 3.6 | 3.9 |
Pension expenses (recognised in profit for the period) | 12.1 | 12.1 | 4.5 | 4.9 |
Remeasurements of the net liability | 18.1 | 32.3 | 7.1 | 15.5 |
Pension expenses (recognised in total comprehensive income for the period) | 30.2 | 44.4 | 11.6 | 20.4 |
Change in defined benefit obligation | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation as at 1/1 | 457.5 | 464.4 | 98.9 | 105.7 |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Pension payments or contributions to supplementary health insurance (benefit payments) | \u2013\u00a036.6 | \u2013\u00a037.8 | \u2013\u00a04.8 | \u2013\u00a05.3 |
Interest expenses | 16.4 | 16.6 | 3.6 | 3.9 |
Remeasurements based on experience adjustments | 5.7 | 3.3 | 2.7 | 3.5 |
Remeasurements arising from changes in financial assumptions | 19.9 | 35.3 | 4.4 | 12.0 |
Defined benefit obligation as at 31/12 | 464.4 | 483.3 | 105.7 | 120.8 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations |
Fair value of plan assets as at 1/1 | 156.4 | 163.0 |
Contributions by VERBUND | 8.5 | 5.4 |
Payouts (benefit payments) | \u2013\u00a015.2 | \u2013\u00a016.2 |
Interest income | 5.8 | 6.0 |
Other gains (+) or losses (\u2013) | 7.5 | 6.3 |
Fair value of plan assets as at 31/12 | 163.0 | 164.5 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
\u00a0 | Quoted | Quoted |
Equities | 40.6 | 43.1 |
Bonds | 32.0 | 29.8 |
Money market | 6.3 | 4.1 |
Other investments | 21.1 | 23.0 |
Total | 100.0 | 100.0 |
Analysis of provisions for termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Provisions for statutory termination benefits | 89.9 | 89.1 |
Provisions for termination benefits based on special agreements as defined in the Sozialplan concluded between management and the works council | 0.5 | 0.4 |
Carrying amount of provisions as at 31/12 | 90.4 | 89.5 |
Termination benefit expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 0.7 | 0.8 |
Net interest expense | 3.1 | 3.2 |
Termination benefit expenses (recognised in profit for the period) | 3.8 | 4.0 |
Remeasurements of termination benefits | 5.5 | 5.6 |
Termination benefit expenses (recognised in total comprehensive income for the period) | 9.3 | 9.6 |
Change in defined benefit obligation for statutory termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 93.4 | 89.9 |
Service costs (vested claims) | 0.7 | 0.8 |
Interest expenses | 3.1 | 3.2 |
Termination benefits (benefit payments) | \u2013\u00a012.8 | \u2013\u00a010.4 |
Remeasurements based on experience adjustments | 3.0 | 0.9 |
Remeasurements arising from changes in financial assumptions | 2.5 | 4.7 |
Defined benefit obligation as at 31/12 | 89.9 | 89.1 |
Reconciliation from defined benefit obligation to provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation covered by plan assets | 7.3 | 6.7 |
Fair value of plan assets | \u2013\u00a03.3 | \u2013\u00a03.2 |
Carrying amount of provisions as at 31/12 | 4.0 | 3.5 |
Expenses for partial retirement | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Remeasurements | 0.7 | \u2013\u00a00.5 |
Expenses for partial retirement (recognised in profit for the period) | 2.0 | 2.1 |
Change in defined benefit obligation | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 8.1 | 7.3 |
Service costs (vested claims) | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Payments for early retirement | \u2013\u00a03.0 | \u2013\u00a02.6 |
Remeasurements | 0.9 | \u2013\u00a00.6 |
Defined benefit obligation as at 31/12 | 7.3 | 6.7 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Fair value of plan assets as at 1/1 | 3.1 | 3.3 |
Other gains (+) or losses (\u2013) | 0.2 | \u2013\u00a00.1 |
Fair value of plan assets as at 31/12 | 3.3 | 3.2 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Bonds | 100.0 | 100.0 |
Total | 100.0 | 100.0 |
Analysis of other personnel-related provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provision for bonuses from the performance-based remuneration system | \u2013 | \u2013 | 37.3 | 43.5 |
Provision for anniversary bonuses | 20.7 | 28.1 | \u2013 | \u2013 |
Other | 5.5 | 7.1 | 0.3 | 0.3 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Change in other personnel-related provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Carrying amount as at 1/1 | 55.3 | 64.0 |
of which non-current | 21.4 | 26.4 |
of which current | 33.9 | 37.6 |
New provisions | 33.8 | 43.8 |
Interest accrued | 0.8 | 0.9 |
Appropriation | \u2013\u00a023.6 | \u2013\u00a029.5 |
Reversal | \u2013\u00a02.3 | \u2013\u00a00.2 |
Carrying amount as at 31/12 | 64.0 | 79.0 |
of which non-current | 26.4 | 35.2 |
of which current | 37.6 | 43.8 |
Other operating expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Third-party maintenance of power plants and line systems | 131.0 | 178.2 |
Other third-party services received | 87.2 | 74.3 |
IT expenses | 56.8 | 63.8 |
Legal, consulting and audit expenses | 26.6 | 30.2 |
Advertising expenses and donations | 23.6 | 23.8 |
Expenses for supervision by E-Control | 17.3 | 23.8 |
Travel expenses, advanced training | 14.7 | 17.0 |
Costs for personnel provided | 13.4 | 11.7 |
Fees | 11.3 | 10.9 |
Compensation payments | 7.2 | 10.4 |
Insurance | 7.9 | 9.3 |
Operating costs | 9.6 | 8.7 |
Materials costs for motor vehicle operation and maintenance | 7.1 | 6.7 |
Rent and lease | 6.0 | 4.6 |
Usage fees | 3.5 | 4.3 |
Purchased telecommunication services | 5.0 | 4.1 |
Membership fees | 3.9 | 4.0 |
Other | 14.4 | 31.1 |
Other operating expenses | 446.5 | 516.8 |
Other operating expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Third-party maintenance of power plants and line systems | 131.0 | 178.2 |
Other third-party services received | 87.2 | 74.3 |
IT expenses | 56.8 | 63.8 |
Legal, consulting and audit expenses | 26.6 | 30.2 |
Advertising expenses and donations | 23.6 | 23.8 |
Expenses for supervision by E-Control | 17.3 | 23.8 |
Travel expenses, advanced training | 14.7 | 17.0 |
Costs for personnel provided | 13.4 | 11.7 |
Fees | 11.3 | 10.9 |
Compensation payments | 7.2 | 10.4 |
Insurance | 7.9 | 9.3 |
Operating costs | 9.6 | 8.7 |
Materials costs for motor vehicle operation and maintenance | 7.1 | 6.7 |
Rent and lease | 6.0 | 4.6 |
Usage fees | 3.5 | 4.3 |
Purchased telecommunication services | 5.0 | 4.1 |
Membership fees | 3.9 | 4.0 |
Other | 14.4 | 31.1 |
Other operating expenses | 446.5 | 516.8 |
Other operating expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Third-party maintenance of power plants and line systems | 131.0 | 178.2 |
Other third-party services received | 87.2 | 74.3 |
IT expenses | 56.8 | 63.8 |
Legal, consulting and audit expenses | 26.6 | 30.2 |
Advertising expenses and donations | 23.6 | 23.8 |
Expenses for supervision by E-Control | 17.3 | 23.8 |
Travel expenses, advanced training | 14.7 | 17.0 |
Costs for personnel provided | 13.4 | 11.7 |
Fees | 11.3 | 10.9 |
Compensation payments | 7.2 | 10.4 |
Insurance | 7.9 | 9.3 |
Operating costs | 9.6 | 8.7 |
Materials costs for motor vehicle operation and maintenance | 7.1 | 6.7 |
Rent and lease | 6.0 | 4.6 |
Usage fees | 3.5 | 4.3 |
Purchased telecommunication services | 5.0 | 4.1 |
Membership fees | 3.9 | 4.0 |
Other | 14.4 | 31.1 |
Other operating expenses | 446.5 | 516.8 |
Measurement and recognition of energy derivatives | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Realisation of futures | \u2013\u00a01,425.7 | \u2013\u00a0195.7 |
of which negative | 1,886.8 | 767.4 |
of which positive | \u2013\u00a03,312.5 | \u2013\u00a0963.0 |
Valuations | 1,963.8 | 380.1 |
of which negative | 4,940.9 | 899.5 |
of which positive | \u2013\u00a02,977.1 | \u2013\u00a0519.5 |
Measurement and recognition of energy derivatives | 538.1 | 184.4 |
Net results by measurement category | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Financial assets measured at amortised cost | \u2013\u00a021.5 | 15.7 |
Financial assets measured at fair value through other comprehensive income | 32.7 | \u2013\u00a04.3 |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | 22.5 | \u2013\u00a014.2 |
Financial liabilities measured at amortised cost | 8.0 | \u2013\u00a059.2 |
Financial assets and liabilities measured at fair value through profit or loss | 36.6 | \u2013\u00a0109.9 |
Total interest income from financial assets measured at amortised cost | 72.0 | 89.4 |
Total interest expenses from financial liabilities measured at amortised cost | \u2013\u00a0120.7 | \u2013\u00a0104.2 |
Components of net gains or losses | \u00a0 |
Measurement category | Remark |
Financial assets and liabilities measured at fair value through profit or loss | The net gains or losses arose from the measurement of derivative financial instruments in the energy area (wholesale and trading) in the operating result, as well as from the measurement of (other) derivative and non-derivative financial instruments in the finance area in the other financial result |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | The net gains or losses arose from the measurement of financial liabilities to banks (closed items on the balance sheet). These gains and losses are offset by net gains and losses from financial assets and liabilities measured at fair value through profit or loss and net gains and losses from financial assets and liabilities measured at cost in the corresponding amounts. |
Financial assets and liabilities measured at amortised cost | The net gains and losses relate primarily to financial instruments associated with closed items on the balance sheet in the other financial result as well as to valuation allowances on trade receivables in the operating result. |
Measurement and recognition of energy derivatives | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Realisation of futures | \u2013\u00a01,425.7 | \u2013\u00a0195.7 |
of which negative | 1,886.8 | 767.4 |
of which positive | \u2013\u00a03,312.5 | \u2013\u00a0963.0 |
Valuations | 1,963.8 | 380.1 |
of which negative | 4,940.9 | 899.5 |
of which positive | \u2013\u00a02,977.1 | \u2013\u00a0519.5 |
Measurement and recognition of energy derivatives | 538.1 | 184.4 |
Other financial result | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Change in a profit participation right with respect to material assets1 | 11.5 | 13.0 |
Income from securities and loans | 2.8 | 7.6 |
Reversal of impairment losses on securities | 9.9 | 4.4 |
Change in an obligation to return an interest2 | 1.5 | \u2013\u00a054.0 |
Other | 0.0 | \u2013\u00a00.8 |
Other financial result | 25.7 | \u2013\u00a030.2 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Expected cash outflows as at 31/12/2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2025 | 2026 | 2027\u2013\u00a02029 | From 2030 |
Bonds | 37.2 | 36.2 | 106.4 | 1,187.6 |
Financial liabilities to banks | 60.3 | 50.0 | 232.4 | 283.8 |
Financial liabilities to others | 6.5 | 6.3 | 142.7 | 13.4 |
Financial liabilities to banks \u2013 closed items on the balance sheet1 | 100.5 | 314.2 | 37.3 | 26.8 |
Capital shares attributable to limited partners | 0.0 | 10.7 | 0.0 | 0.0 |
Cash outflows for financial liabilities | 204.5 | 417.4 | 518.8 | 1,511.7 |
Trade payables | 370.8 | 0.6 | 9.3 | 0.0 |
Other | 572.5 | 449.7 | 102.3 | 141.0 |
Cash outflows for trade payables and other payables | 943.3 | 450.4 | 111.6 | 141.0 |
Derivatives in the energy area2 | 670.6 | 140.2 | 24.7 | 0.0 |
Derivatives in the finance area | 0.1 | 0.0 | 0.0 | 0.0 |
Cash outflows for liabilities from derivative financial instruments | 670.7 | 140.2 | 24.7 | 0.0 |
Cash outflows for liabilities in accordance with IFRS\u00a07 | 1,818.5 | 1,008.0 | 655.0 | 1,652.7 |
Expected cash outflows as at 31/12/2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2024 | 2025 | 2026\u2013\u00a02028 | From 2029 |
Bonds | 528.5 | 20.9 | 59.6 | 673.1 |
Financial liabilities to banks | 64.1 | 57.2 | 242.3 | 294.4 |
Financial liabilities to others | 154.1 | 0.0 | 13.5 | 0.0 |
Financial liabilities to banks \u2013 closed items on the balance sheet | 15.3 | 94.5 | 330.5 | 25.2 |
Capital shares attributable to limited partners | 0.0 | 8.3 | 0.0 | 0.0 |
Cash outflows for financial liabilities | 761.9 | 180.9 | 645.9 | 992.7 |
Trade payables | 327.4 | 0.3 | 2.0 | 0.2 |
Other | 783.0 | 336.2 | 32.5 | 156.0 |
Cash outflows for trade payables and other payables | 1,110.4 | 336.5 | 34.5 | 156.2 |
Derivatives in the energy area | 706.8 | 12.9 | 68.6 | 0.0 |
Cash outflows for liabilities from derivative financial instruments | 706.8 | 13.0 | 68.6 | 0.0 |
Cash outflows for liabilities in accordance with IFRS\u00a07 | 2,579.1 | 530.4 | 749.0 | 1,148.9 |
Cash flow hedges \u2013 hedging instruments 31/12/2024 | \u00a0 | \u20acm | |||
\u00a0 | Carrying amount | Balance sheet item | Notional amount | Change in fair value for the measurement of ineffectiveness | Hedging costs |
Electricity futures and forwards \u2013 sales | 363.1 | Receivables from derivative financial instruments | 12,759\u00a0GWh | 12.2 | 0.0 |
Electricity futures and forwards \u2013 sales | \u2013\u00a0150.9 | Liabilities from derivative financial instruments | 13,523\u00a0GWh | \u2013\u00a0161.2 | 0.0 |
Electricity futures and forwards \u2013 purchases | 42.5 | Receivables from derivative financial instruments | \u2013\u00a04,098\u00a0GWh | 42.0 | 0.0 |
Electricity futures and forwards \u2013 purchases | \u2013\u00a069.2 | Liabilities from derivative financial instruments | \u2013\u00a02,753\u00a0GWh | \u2013\u00a02.4 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Receivables from derivative financial instruments | 0\u00a0GWh | 0.9 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Liabilities from derivative financial instruments | \u2013\u00a09\u00a0GWh | 0.0 | 0.0 |
Interest rate swaps | 25.1 | Receivables from derivative financial instruments | 229.3 | \u2013\u00a05.1 | 0.0 |
Cash flow hedges \u2013 hedged items 31/12/2024 | \u00a0 | \u20acm | |
\u00a0 | Change in fair value for the measurement of ineffectiveness | Carrying amount of the reserve for measurements of cash flow hedges | Hedging costs |
Future electricity sales volumes | 148.9 | 212.1 | 0.0 |
Future electricity procurement | \u2013\u00a039.6 | \u2013\u00a026.7 | 0.0 |
Future gas procurement | \u2013\u00a00.9 | 0.0 | 0.0 |
Variable-rate financial liabilities | 4.6 | \u2013\u00a03.2 | 0.0 |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet in 2024\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifi-cations from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | \u2013\u00a0149.0 | 0.0 | 0.1 | Revenue | 702.9 | Revenue |
Electricity futures and forwards \u2013 purchases | 39.6 | 0.0 | 0.0 | Electricity procurement | \u2013\u00a0294.8 | Electricity procurement |
Gas forwards \u2013 purchases | 0.9 | 0.0 | 0.0 | Gas procurement | \u2013\u00a015.3 | Gas procurement |
Interest rate swaps | \u2013\u00a00.1 | 0.4 | 0.0 | Other financial result | 4.5 | Interest expenses |
Notional amount and average price or interest rate as at 31/12/2024 | \u00a0 | ||||
\u00a0 | 2025 | 2026 | 2027 | 2028 | From 2030 |
Electricity futures and forwards \u2013 sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 15,192\u00a0GWh | 9,891\u00a0GWh | 303\u00a0GWh | 262\u00a0GWh | 635\u00a0GWh |
Average hedged price | 116.7 \u20ac/MWh | 77.3 \u20ac/MWh | 48.6 \u20ac/MWh | 50.1 \u20ac/MWh | 36.1 \u20ac/MWh |
Electricity futures and forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | \u2013\u00a04,837\u00a0GWh | \u2013\u00a01,275\u00a0GWh | \u2013\u00a0625\u00a0GWh | \u2013\u00a0114\u00a0GWh | 0\u00a0GWh |
Average hedged price | 103.8 \u20ac/MWh | 92.8 \u20ac/MWh | 76.4 \u20ac/MWh | 69.5 \u20ac/MWh | 0.0 \u20ac/MWh |
Gas forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | \u2013\u00a09\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh |
Average hedged price | 54.2 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh |
Interest rate swaps | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Average notional amount in \u20acm | 220.1 | 196.9 | 179.5 | 163.4 | 100.0 |
Average fixed interest rate | 0.4% | 0.3% | 0.3% | 0.3% | 0.4% |
Cash flow hedges \u2013 hedging instruments as at 31/12/2023 | \u20acm | ||||
\u00a0 | Carrying amount | Balance sheet item | Notional amount | Change in fair value for the measurement of ineffectiveness | Hedging costs |
Electricity futures and forwards \u2013 sales | 1,076.7 | Receivables from derivative financial instruments | 25,630\u00a0GWh | 1,642.0 | 0.0 |
Electricity futures and forwards \u2013 sales | \u2013\u00a013.3 | Liabilities from derivative financial instruments | 3,472\u00a0GWh | \u2013\u00a04.9 | 0.0 |
Electricity futures and forwards \u2013 purchases | 16.0 | Receivables from derivative financial instruments | 730\u00a0GWh | 0.2 | 0.0 |
Electricity futures and forwards \u2013 purchases | \u2013\u00a0377.2 | Liabilities from derivative financial instruments | 6,953\u00a0GWh | \u2013\u00a0476.6 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Receivables from derivative financial instruments | 0\u00a0GWh | 0.0 | 0.0 |
Gas forwards \u2013 purchases | \u2013\u00a015.4 | Liabilities from derivative financial instruments | 196\u00a0GWh | \u2013\u00a09.6 | 0.0 |
Interest rate swaps | 30.2 | Receivables from derivative financial instruments | 270.3 | \u2013\u00a013.2 | 0.0 |
Cash flow hedges \u2013 hedged items as at 31/12/2023 | \u00a0 | \u20acm | |
\u00a0 | Change in fair value for the measurement of ineffectiveness | Carrying amount of the reserve for measurements of cash flow hedges | Hedging costs |
Future electricity sales volumes | \u2013\u00a01,637.5 | 1,062.9 | 0.0 |
Future electricity purchases | 476.4 | \u2013\u00a0361.2 | 0.0 |
Future gas purchases | 9.6 | \u2013\u00a015.4 | 0.0 |
Variable-rate financial liabilities | 13.3 | \u2013\u00a07.8 | 0.0 |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet 2023\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifica-tions from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | 1,637.1 | 0.0 | 0.4 | Revenue | \u2013\u00a0900.2 | Revenue |
Electricity futures and forwards \u2013 purchases | \u2013\u00a0476.4 | 0.0 | 0.0 | Electricity purchases | \u2013\u00a0108.0 | Electricity purchases |
Gas forwards \u2013 purchases | \u2013\u00a09.6 | 0.0 | 0.0 | Gas purchases | \u2013\u00a07.9 | Gas purchases |
Interest rate swaps | \u2013\u00a06.1 | 0.0 | 0.0 | Other financial result | 7.2 | Interest expenses |
Notional amount and average price or interest rate as at 31/12/2023 | \u20acm | ||||
\u00a0 | 2024 | 2025 | 2026 | 2027 | From 2028 |
Electricity futures and forwards \u2013 sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 15,150\u00a0GWh | 10,382\u00a0GWh | 2,532\u00a0GWh | 246\u00a0GWh | 793\u00a0GWh |
Average hedged price | 135.3 \u20ac/MWh | 129.5 \u20ac/MWh | 89.0 \u20ac/MWh | 50.9 \u20ac/MWh | 40.5 \u20ac/MWh |
Electricity futures and forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 5,023\u00a0GWh | 2,027\u00a0GWh | 537\u00a0GWh | 96\u00a0GWh | 0\u00a0GWh |
Average hedged price | 149.3 \u20ac/MWh | 125.0 \u20ac/MWh | 108.8 \u20ac/MWh | 92.8 \u20ac/MWh | 0.0 \u20ac/MWh |
Gas forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 196\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh |
Average hedged price | 111.5 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh |
Interest rate swaps | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Average notional amount in \u20acm | 249.8 | 220.1 | 196.9 | 179.5 | 107.9 |
Average fixed interest rate | 0.5% | 0.4% | 0.3% | 0.3% | 0.4% |
Receivables from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 356.2 | 49.0 | 1,207.2 | 329.8 |
Derivatives in the finance area | 44.9 | 33.8 | 4.4 | 7.3 |
Receivables from derivative financial instruments | 401.1 | 82.8 | 1,211.6 | 337.1 |
Liabilities from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 60.9 | 138.1 | 302.4 | 102.9 |
Derivatives in the finance area | 0.0 | 0.0 | 0.0 | 0.1 |
Liabilities from derivative financial instruments | 60.9 | 138.1 | 302.4 | 103.0 |
Receivables from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Positive fair values | Positive fair values |
\u00a0 | \u00a0 | 31.12.2023 | 31/12/2024 |
Interest rate swaps \u2013 closed items on the balance sheet (fixed interest recipient) | $297.5m (Previous year: $286.9m) | 19.2 | 15.8 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac216.4m (Previous year: \u20ac270.3m) | 30.2 | 25.2 |
Liabilities from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Negative fair values | Negative fair values |
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac12.9m (Previous year: \u20ac0.0m) | 0.0 | 0.1 |
Financial instruments subject to credit risk by assigned rating group\u00a0 | \u00a0 | \u20acm | |
\u00a0 | \u00a0 | 2023 | 2024 |
Credit rating group | Equiva- lent Moody\u2019s-rating | Derivatives in the energy area | Derivatives in the energy area |
A | up to Aa3 | 109.9 | 0.1 |
B | up to A3 | 286.3 | 123.1 |
C1\u2013C3 | up to Baa3 | 1,147.9 | 247.7 |
D1\u2013D5 | below Baa3 | 19.2 | 8.0 |
Total | \u00a0 | 1,563.3 | 378.8 |
Sales and procurement (cash flow hedges) as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 253.6 | 177.6 | 76.0 |
Forwards | 152.1 | 42.6 | 109.5 |
Total before netting | 405.7 | 220.2 | 185.5 |
of which current | 393.4 | 204.9 | 188.5 |
of which non-current | 12.3 | 15.3 | \u2013\u00a03.0 |
of which in other comprehensive income | \u00a0 | \u00a0 | 185.5 |
Wholesale as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 227.7 | 313.7 | \u2013\u00a086.1 |
Forwards | 454.1 | 424.9 | 29.2 |
Total before netting | 681.8 | 738.7 | \u2013\u00a056.9 |
of which current | 573.4 | 544.1 | 29.4 |
of which non-current | 108.4 | 194.6 | \u2013\u00a086.2 |
Futures already realised | 187.9 | 124.9 | 62.9 |
Total | \u00a0 | \u00a0 | 6.1 |
Trading as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 12.2 | 12.8 | \u2013\u00a00.6 |
Forwards | 115.7 | 116.7 | \u2013\u00a01.0 |
Total before netting | 127.8 | 129.5 | \u2013\u00a01.7 |
of which current | 89.1 | 90.7 | \u2013\u00a01.7 |
of which non-current | 38.8 | 38.8 | 0.0 |
Total as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 493.4 | 504.2 | \u2013\u00a010.8 |
Forwards | 721.9 | 584.2 | 137.7 |
Total before netting | 1,215.3 | 1,088.4 | 127.0 |
Including netting agreements | \u2013\u00a0847.3 | \u2013\u00a0847.3 | 0.0 |
Total after netting | 368.0 | 241.0 | 127.0 |
EEX/ECX clearing variation margins for futures | 10.8 | 0.0 | 10.8 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 378.8 | 241.0 | 137.8 |
of which current | 329.8 | 102.9 | 226.9 |
of which non-current | 49.0 | 138.1 | \u2013\u00a089.1 |
Sales and procurement (cash flow hedges) as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 723.4 | 366.9 | 356.5 |
Forwards | 369.3 | 39.0 | 330.3 |
Total before netting | 1,092.7 | 405.9 | 686.8 |
of which current | 939.7 | 388.3 | 551.5 |
of which non-current | 152.9 | 17.6 | 135.3 |
of which in other comprehensive income | \u00a0 | \u00a0 | 686.8 |
Wholesale as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 671.5 | 999.8 | \u2013\u00a0328.3 |
Forwards | 1,707.6 | 838.8 | 868.8 |
Total before netting | 2,379.2 | 1,838.6 | 540.6 |
of which current | 1,984.7 | 1,604.0 | 380.7 |
of which non-current | 394.5 | 234.6 | 159.9 |
Futures already realised | 840.9 | 1,219.5 | \u2013\u00a0378.6 |
Total | \u00a0 | \u00a0 | 162.0 |
Trading as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 21.9 | 23.0 | \u2013\u00a01.0 |
Forwards | 300.8 | 295.0 | 5.8 |
Total before netting | 322.7 | 318.0 | 4.8 |
of which current | 280.6 | 275.6 | 5.1 |
of which non-current | 42.1 | 42.4 | \u2013\u00a00.3 |
Total as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 1,416.9 | 1,389.7 | 27.2 |
Forwards | 2,377.7 | 1,172.8 | 1,204.9 |
Total before netting | 3,794.5 | 2,562.5 | 1,232.1 |
Including netting agreements | \u2013\u00a02,199.3 | \u2013\u00a02,199.3 | 0.0 |
Total after netting | 1,595.3 | 363.2 | 1,232.1 |
EEX/ECX clearing variation margins for futures | \u2013\u00a031.9 | 0.0 | \u2013\u00a031.9 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 1,563.3 | 363.2 | 1,200.1 |
of which current | 1,207.2 | 302.4 | 904.8 |
of which non-current | 356.2 | 60.9 | 295.3 |
Sensitivity: market price fluctuation of +\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | \u2013\u00a025.1 | \u2013\u00a019.5 |
Effect on equity (revaluation reserve from cash flow hedges) | \u2013\u00a0183.9 | \u2013\u00a0171.5 |
\u00a0 | \u00a0 | \u00a0 |
Sensitivity: market price fluctuation of \u2013\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | 25.1 | 19.5 |
Effect on equity (revaluation reserve from cash flow hedges) | 183.9 | 171.5 |
Measurement and recognition of energy derivatives | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Realisation of futures | \u2013\u00a01,425.7 | \u2013\u00a0195.7 |
of which negative | 1,886.8 | 767.4 |
of which positive | \u2013\u00a03,312.5 | \u2013\u00a0963.0 |
Valuations | 1,963.8 | 380.1 |
of which negative | 4,940.9 | 899.5 |
of which positive | \u2013\u00a02,977.1 | \u2013\u00a0519.5 |
Measurement and recognition of energy derivatives | 538.1 | 184.4 |
Other financial result | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Change in a profit participation right with respect to material assets1 | 11.5 | 13.0 |
Income from securities and loans | 2.8 | 7.6 |
Reversal of impairment losses on securities | 9.9 | 4.4 |
Change in an obligation to return an interest2 | 1.5 | \u2013\u00a054.0 |
Other | 0.0 | \u2013\u00a00.8 |
Other financial result | 25.7 | \u2013\u00a030.2 |
Investments and non-current other receivables | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Investments \u2013 closed items on the balance sheet | 401.4 | 347.6 |
Other investments and other receivables | 417.8 | 455.4 |
Total | 819.1 | 803.0 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 71.9 | 329.5 | 401.4 |
Foreign exchange differences | 4.4 | 19.0 | 23.5 |
Additions | 2.8 | 8.7 | 11.5 |
Capitalised interest | 0.0 | 12.3 | 12.3 |
Disposals | \u2013\u00a01.2 | \u2013\u00a05.1 | \u2013\u00a06.4 |
Amortised acquisition cost as at 31/12 | 77.9 | 364.4 | 442.3 |
of which non-current assets | 77.9 | 269.7 | 347.6 |
of which current assets | 0.0 | 94.7 | 94.7 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 73.2 | 334.1 | 407.3 |
Foreign exchange differences | \u2013\u00a02.7 | \u2013\u00a013.8 | \u2013\u00a016.5 |
Additions | 2.7 | 3.8 | 6.5 |
Capitalised interest | 0.0 | 11.5 | 11.6 |
Disposals | \u2013\u00a01.3 | \u2013\u00a06.1 | \u2013\u00a07.4 |
Amortised acquisition cost as at 31/12 | 71.9 | 329.5 | 401.4 |
of which non-current assets | 71.9 | 329.5 | 401.4 |
of which current assets | 0.0 | 0.0 | 0.0 |
Other investments and non-current other receivables | \u20acm | |||
\u00a0 | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 46.1 | 177.4 | 5.8 | 229.4 |
Additions | 0.0 | 3.3 | 1.7 | 5.0 |
Disposals | 0.0 | \u2013\u00a00.7 | 0.0 | \u2013\u00a00.7 |
Reclassifications | 8.7 | \u2013\u00a01.9 | 0.0 | 6.8 |
Cost as at 31/12 | 54.8 | 178.1 | 7.5 | 240.5 |
Accumulated value adjustments as at 1/1 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Reversals of impairment losses | 0.0 | 4.5 | 0.0 | 4.5 |
Fair value measurement in OCI | 0.0 | 1.0 | 0.0 | 1.0 |
Disposals | 0.0 | 0.8 | 0.0 | 0.8 |
Accumulated value adjustments as at 31/12 | 0.0 | \u2013\u00a03.3 | 0.0 | \u2013\u00a03.3 |
Net carrying amount as at 31/12 | 54.8 | 174.8 | 7.5 | 237.2 |
Net carrying amount as at 1/1 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 218.2 |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 198.0 |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 455.4 |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 417.8 |
Other investments and non-current other receivables\u00a0 | \u20acm | ||||
\u00a0 | Loans to affiliated companies \u2013 not included in the basis of consolidation | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |
Cost as at 1/1 | 2.7 | 59.1 | 181.2 | 5.7 | 248.8 |
Additions from business acquisitions | \u2013\u00a02.7 | 0.0 | 0.0 | 0.0 | \u2013\u00a02.7 |
Additions | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 |
Reclassifications | 0.0 | \u2013\u00a013.0 | \u2013\u00a03.8 | 0.0 | \u2013\u00a016.8 |
Cost as at 31/12 | 0.0 | 46.1 | 177.4 | 5.8 | 229.4 |
Accumulated value adjustments as at 1/1 | 0.0 | 0.0 | \u2013\u00a020.3 | 0.0 | \u2013\u00a020.3 |
Reversals of impairment losses | 0.0 | 0.0 | 10.7 | 0.0 | 10.7 |
Accumulated value adjustments as at 31/12 | 0.0 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Net carrying amount as at 31/12 | 0.0 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount as at 1/1 | 2.7 | 59.1 | 160.9 | 5.7 | 228.5 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 198.0 | |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 309.7 | |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 417.8 | |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 538.1 | |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
FVOCI equity interests in 2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Fair value as at 31/12/2023 | Fair value as at 31/12/2024 | Dividend as at 31/12/2023 | Dividend as at 31/12/2024 |
Energie AG Ober\u00f6sterreich | 157.9 | 153.5 | 2.8 | 3.5 |
VERBUND Tourismus GmbH | 3.6 | 28.7 | 0.0 | 0.0 |
Burgenland Holding Aktiengesellschaft | 23.2 | 21.1 | 1.0 | 1.1 |
VUM Verfahren Umwelt Management GmbH | 11.2 | 12.2 | 1.3 | 1.8 |
SOLAVOLTA Energie- und Umwelttechnik GmbH | \u2013 | 8.8 | \u2013 | 0.0 |
Wiener B\u00f6rse AG | 8.1 | 9.1 | 0.6 | 0.7 |
TTTech Nexus GmbH | 0.0 | 6.6 | 0.0 | 0.0 |
Gestionnaires du R\u00e9seau de Transport d\u2019\u00c9lectricit\u00e9 (RTE) | 4.8 | 4.8 | 0.7 | 0.8 |
VERBUND Green Power Albania Sh.p.k. | 3.5 | 3.5 | 0.0 | 0.0 |
Infraestructuras de Illora S.L. | 3.4 | 3.4 | 0.0 | 0.0 |
CISMO GmbH | 2.6 | 2.8 | 0.4 | 0.4 |
Necture GmbH | 1.5 | 2.6 | 0.0 | 0.0 |
Other | 6.8 | 15.0 | 1.7 | 1.0 |
Total | 226.5 | 272.1 | 8.5 | 9.3 |
Valuation techniques and input factors for determining fair values | \u00a0 | ||
Level | Financial Instruments | Valuation technique | Input factor |
1 | Energy forwards | Market approach | Settlement price published by the stock exchange |
1 | Securities, other equity interest in Burgenland Holding AG | Market approach | Stock exchange price |
2 | Securities and other loans under closed items on the balance sheet, non-current loans, liabilities to banks, bonds and other financial liabilities | Net present value approach | Payments associated with the financial instruments, yield curve, credit risk of the contracting parties (credit default swaps or credit spread curves) |
2 | Interests in unconsolidated subsidiaries, other equity interest in Energie AG Ober\u00f6sterreich, among others | Market approach | Trading multiple, transaction price |
2 | Non-listed energy forwards | Net present value approach | Forward price curve derived from stock exchange, yield curve, credit risk of the contracting parties |
2 | Other assets and liabilities measured at fair value in the finance area | Net present value approach | Cash flows already fixed or determined via forward rates, yield curve, credit risk of the contracting parties |
3 | Return obligation (obligation to transfer back the 50% interest acquired in Donaukraftwerk Jochenstein AG) | Net present value approach | Price forecasts for electricity, weighted average cost of capital after taxes |
3 | Securities (shares of Wiener B\u00f6rse AG) | Net present value approach | Expected distribution of profits, cost of equity |
3 | Other non-current receivables (profit participation right with respect to material assets of TAG) | Net present value approach | Expected distribution of profits, cost of equity |
AC | Other shares in unconsolidated subsidiaries, other equity interests and securities | \u2013 | Cost as the best estimate of fair value |
\u2013 | Cash and cash equivalents, trade receivables and payables, other current receivables, other borrowing within current credit lines as well as other current liabilities | \u2013 | Carrying amount as the best estimate of fair value |
Expected cash outflows as at 31/12/2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2025 | 2026 | 2027\u2013\u00a02029 | From 2030 |
Bonds | 37.2 | 36.2 | 106.4 | 1,187.6 |
Financial liabilities to banks | 60.3 | 50.0 | 232.4 | 283.8 |
Financial liabilities to others | 6.5 | 6.3 | 142.7 | 13.4 |
Financial liabilities to banks \u2013 closed items on the balance sheet1 | 100.5 | 314.2 | 37.3 | 26.8 |
Capital shares attributable to limited partners | 0.0 | 10.7 | 0.0 | 0.0 |
Cash outflows for financial liabilities | 204.5 | 417.4 | 518.8 | 1,511.7 |
Trade payables | 370.8 | 0.6 | 9.3 | 0.0 |
Other | 572.5 | 449.7 | 102.3 | 141.0 |
Cash outflows for trade payables and other payables | 943.3 | 450.4 | 111.6 | 141.0 |
Derivatives in the energy area2 | 670.6 | 140.2 | 24.7 | 0.0 |
Derivatives in the finance area | 0.1 | 0.0 | 0.0 | 0.0 |
Cash outflows for liabilities from derivative financial instruments | 670.7 | 140.2 | 24.7 | 0.0 |
Cash outflows for liabilities in accordance with IFRS\u00a07 | 1,818.5 | 1,008.0 | 655.0 | 1,652.7 |
Expected cash outflows as at 31/12/2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2024 | 2025 | 2026\u2013\u00a02028 | From 2029 |
Bonds | 528.5 | 20.9 | 59.6 | 673.1 |
Financial liabilities to banks | 64.1 | 57.2 | 242.3 | 294.4 |
Financial liabilities to others | 154.1 | 0.0 | 13.5 | 0.0 |
Financial liabilities to banks \u2013 closed items on the balance sheet | 15.3 | 94.5 | 330.5 | 25.2 |
Capital shares attributable to limited partners | 0.0 | 8.3 | 0.0 | 0.0 |
Cash outflows for financial liabilities | 761.9 | 180.9 | 645.9 | 992.7 |
Trade payables | 327.4 | 0.3 | 2.0 | 0.2 |
Other | 783.0 | 336.2 | 32.5 | 156.0 |
Cash outflows for trade payables and other payables | 1,110.4 | 336.5 | 34.5 | 156.2 |
Derivatives in the energy area | 706.8 | 12.9 | 68.6 | 0.0 |
Cash outflows for liabilities from derivative financial instruments | 706.8 | 13.0 | 68.6 | 0.0 |
Cash outflows for liabilities in accordance with IFRS\u00a07 | 2,579.1 | 530.4 | 749.0 | 1,148.9 |
Net results by measurement category | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Financial assets measured at amortised cost | \u2013\u00a021.5 | 15.7 |
Financial assets measured at fair value through other comprehensive income | 32.7 | \u2013\u00a04.3 |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | 22.5 | \u2013\u00a014.2 |
Financial liabilities measured at amortised cost | 8.0 | \u2013\u00a059.2 |
Financial assets and liabilities measured at fair value through profit or loss | 36.6 | \u2013\u00a0109.9 |
Total interest income from financial assets measured at amortised cost | 72.0 | 89.4 |
Total interest expenses from financial liabilities measured at amortised cost | \u2013\u00a0120.7 | \u2013\u00a0104.2 |
Components of net gains or losses | \u00a0 |
Measurement category | Remark |
Financial assets and liabilities measured at fair value through profit or loss | The net gains or losses arose from the measurement of derivative financial instruments in the energy area (wholesale and trading) in the operating result, as well as from the measurement of (other) derivative and non-derivative financial instruments in the finance area in the other financial result |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | The net gains or losses arose from the measurement of financial liabilities to banks (closed items on the balance sheet). These gains and losses are offset by net gains and losses from financial assets and liabilities measured at fair value through profit or loss and net gains and losses from financial assets and liabilities measured at cost in the corresponding amounts. |
Financial assets and liabilities measured at amortised cost | The net gains and losses relate primarily to financial instruments associated with closed items on the balance sheet in the other financial result as well as to valuation allowances on trade receivables in the operating result. |
Cash flow hedges \u2013 hedging instruments 31/12/2024 | \u00a0 | \u20acm | |||
\u00a0 | Carrying amount | Balance sheet item | Notional amount | Change in fair value for the measurement of ineffectiveness | Hedging costs |
Electricity futures and forwards \u2013 sales | 363.1 | Receivables from derivative financial instruments | 12,759\u00a0GWh | 12.2 | 0.0 |
Electricity futures and forwards \u2013 sales | \u2013\u00a0150.9 | Liabilities from derivative financial instruments | 13,523\u00a0GWh | \u2013\u00a0161.2 | 0.0 |
Electricity futures and forwards \u2013 purchases | 42.5 | Receivables from derivative financial instruments | \u2013\u00a04,098\u00a0GWh | 42.0 | 0.0 |
Electricity futures and forwards \u2013 purchases | \u2013\u00a069.2 | Liabilities from derivative financial instruments | \u2013\u00a02,753\u00a0GWh | \u2013\u00a02.4 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Receivables from derivative financial instruments | 0\u00a0GWh | 0.9 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Liabilities from derivative financial instruments | \u2013\u00a09\u00a0GWh | 0.0 | 0.0 |
Interest rate swaps | 25.1 | Receivables from derivative financial instruments | 229.3 | \u2013\u00a05.1 | 0.0 |
Cash flow hedges \u2013 hedged items 31/12/2024 | \u00a0 | \u20acm | |
\u00a0 | Change in fair value for the measurement of ineffectiveness | Carrying amount of the reserve for measurements of cash flow hedges | Hedging costs |
Future electricity sales volumes | 148.9 | 212.1 | 0.0 |
Future electricity procurement | \u2013\u00a039.6 | \u2013\u00a026.7 | 0.0 |
Future gas procurement | \u2013\u00a00.9 | 0.0 | 0.0 |
Variable-rate financial liabilities | 4.6 | \u2013\u00a03.2 | 0.0 |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet in 2024\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifi-cations from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | \u2013\u00a0149.0 | 0.0 | 0.1 | Revenue | 702.9 | Revenue |
Electricity futures and forwards \u2013 purchases | 39.6 | 0.0 | 0.0 | Electricity procurement | \u2013\u00a0294.8 | Electricity procurement |
Gas forwards \u2013 purchases | 0.9 | 0.0 | 0.0 | Gas procurement | \u2013\u00a015.3 | Gas procurement |
Interest rate swaps | \u2013\u00a00.1 | 0.4 | 0.0 | Other financial result | 4.5 | Interest expenses |
Notional amount and average price or interest rate as at 31/12/2024 | \u00a0 | ||||
\u00a0 | 2025 | 2026 | 2027 | 2028 | From 2030 |
Electricity futures and forwards \u2013 sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 15,192\u00a0GWh | 9,891\u00a0GWh | 303\u00a0GWh | 262\u00a0GWh | 635\u00a0GWh |
Average hedged price | 116.7 \u20ac/MWh | 77.3 \u20ac/MWh | 48.6 \u20ac/MWh | 50.1 \u20ac/MWh | 36.1 \u20ac/MWh |
Electricity futures and forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | \u2013\u00a04,837\u00a0GWh | \u2013\u00a01,275\u00a0GWh | \u2013\u00a0625\u00a0GWh | \u2013\u00a0114\u00a0GWh | 0\u00a0GWh |
Average hedged price | 103.8 \u20ac/MWh | 92.8 \u20ac/MWh | 76.4 \u20ac/MWh | 69.5 \u20ac/MWh | 0.0 \u20ac/MWh |
Gas forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | \u2013\u00a09\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh |
Average hedged price | 54.2 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh |
Interest rate swaps | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Average notional amount in \u20acm | 220.1 | 196.9 | 179.5 | 163.4 | 100.0 |
Average fixed interest rate | 0.4% | 0.3% | 0.3% | 0.3% | 0.4% |
Cash flow hedges \u2013 hedging instruments as at 31/12/2023 | \u20acm | ||||
\u00a0 | Carrying amount | Balance sheet item | Notional amount | Change in fair value for the measurement of ineffectiveness | Hedging costs |
Electricity futures and forwards \u2013 sales | 1,076.7 | Receivables from derivative financial instruments | 25,630\u00a0GWh | 1,642.0 | 0.0 |
Electricity futures and forwards \u2013 sales | \u2013\u00a013.3 | Liabilities from derivative financial instruments | 3,472\u00a0GWh | \u2013\u00a04.9 | 0.0 |
Electricity futures and forwards \u2013 purchases | 16.0 | Receivables from derivative financial instruments | 730\u00a0GWh | 0.2 | 0.0 |
Electricity futures and forwards \u2013 purchases | \u2013\u00a0377.2 | Liabilities from derivative financial instruments | 6,953\u00a0GWh | \u2013\u00a0476.6 | 0.0 |
Gas forwards \u2013 purchases | 0.0 | Receivables from derivative financial instruments | 0\u00a0GWh | 0.0 | 0.0 |
Gas forwards \u2013 purchases | \u2013\u00a015.4 | Liabilities from derivative financial instruments | 196\u00a0GWh | \u2013\u00a09.6 | 0.0 |
Interest rate swaps | 30.2 | Receivables from derivative financial instruments | 270.3 | \u2013\u00a013.2 | 0.0 |
Cash flow hedges \u2013 hedged items as at 31/12/2023 | \u00a0 | \u20acm | |
\u00a0 | Change in fair value for the measurement of ineffectiveness | Carrying amount of the reserve for measurements of cash flow hedges | Hedging costs |
Future electricity sales volumes | \u2013\u00a01,637.5 | 1,062.9 | 0.0 |
Future electricity purchases | 476.4 | \u2013\u00a0361.2 | 0.0 |
Future gas purchases | 9.6 | \u2013\u00a015.4 | 0.0 |
Variable-rate financial liabilities | 13.3 | \u2013\u00a07.8 | 0.0 |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet 2023\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifica-tions from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | 1,637.1 | 0.0 | 0.4 | Revenue | \u2013\u00a0900.2 | Revenue |
Electricity futures and forwards \u2013 purchases | \u2013\u00a0476.4 | 0.0 | 0.0 | Electricity purchases | \u2013\u00a0108.0 | Electricity purchases |
Gas forwards \u2013 purchases | \u2013\u00a09.6 | 0.0 | 0.0 | Gas purchases | \u2013\u00a07.9 | Gas purchases |
Interest rate swaps | \u2013\u00a06.1 | 0.0 | 0.0 | Other financial result | 7.2 | Interest expenses |
Notional amount and average price or interest rate as at 31/12/2023 | \u20acm | ||||
\u00a0 | 2024 | 2025 | 2026 | 2027 | From 2028 |
Electricity futures and forwards \u2013 sales | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 15,150\u00a0GWh | 10,382\u00a0GWh | 2,532\u00a0GWh | 246\u00a0GWh | 793\u00a0GWh |
Average hedged price | 135.3 \u20ac/MWh | 129.5 \u20ac/MWh | 89.0 \u20ac/MWh | 50.9 \u20ac/MWh | 40.5 \u20ac/MWh |
Electricity futures and forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 5,023\u00a0GWh | 2,027\u00a0GWh | 537\u00a0GWh | 96\u00a0GWh | 0\u00a0GWh |
Average hedged price | 149.3 \u20ac/MWh | 125.0 \u20ac/MWh | 108.8 \u20ac/MWh | 92.8 \u20ac/MWh | 0.0 \u20ac/MWh |
Gas forwards \u2013 purchases | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Notional amount | 196\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh | 0\u00a0GWh |
Average hedged price | 111.5 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh | 0.0 \u20ac/MWh |
Interest rate swaps | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Average notional amount in \u20acm | 249.8 | 220.1 | 196.9 | 179.5 | 107.9 |
Average fixed interest rate | 0.5% | 0.4% | 0.3% | 0.3% | 0.4% |
Impairment of assets | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Stage 1 | Stage 2 | Stage 3 |
Credit risk | Low credit risk \u2013 (credit risk has not increased significantly since initial recognition) | Elevated credit risk \u2013 (credit risk has increased significantly since initial recognition) | Significant financial difficulties on the part of the borrower or the issuer (breach of contract) |
Recognition of loss allowance | Impairment in the amount of the 12-month expected losses | Impairment in the amount of expected lifetime losses | Impairment in the amount of expected lifetime losses |
Calculation of interest income | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the net carrying amount |
Receivables from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 356.2 | 49.0 | 1,207.2 | 329.8 |
Derivatives in the finance area | 44.9 | 33.8 | 4.4 | 7.3 |
Receivables from derivative financial instruments | 401.1 | 82.8 | 1,211.6 | 337.1 |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Other receivables and assets | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Securities | \u2013 | \u2013 | 4.4 | 2.5 |
Guarantees in electricity trading | 132.9 | 132.0 | 108.9 | 77.2 |
Emission rights | \u2013 | \u2013 | 45.4 | 48.9 |
Receivables from tax clearing | \u2013 | \u2013 | 67.7 | 25.2 |
Other | 65.2 | 86.2 | 56.0 | 113.8 |
Other receivables and assets | 198.1 | 218.2 | 282.3 | 267.7 |
Liabilities from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 60.9 | 138.1 | 302.4 | 102.9 |
Derivatives in the finance area | 0.0 | 0.0 | 0.0 | 0.1 |
Liabilities from derivative financial instruments | 60.9 | 138.1 | 302.4 | 103.0 |
Receivables from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Positive fair values | Positive fair values |
\u00a0 | \u00a0 | 31.12.2023 | 31/12/2024 |
Interest rate swaps \u2013 closed items on the balance sheet (fixed interest recipient) | $297.5m (Previous year: $286.9m) | 19.2 | 15.8 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac216.4m (Previous year: \u20ac270.3m) | 30.2 | 25.2 |
Liabilities from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Negative fair values | Negative fair values |
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac12.9m (Previous year: \u20ac0.0m) | 0.0 | 0.1 |
Financial instruments subject to credit risk by assigned rating group 2024 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables1 | Trade receivables | Investments and cash and cash equivalents2 |
A | up to Aa3 | 299.3 | 3.1 | 0.0 | 31.3 | 337.5 |
B | up to A3 | 158.8 | 1.9 | 22.1 | 165.7 | 453.2 |
C1\u2013C3 | up to Baa3 | 0.0 | 0.0 | 42.8 | 352.5 | 34.4 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 34.5 | 0.0 |
Not rated | \u00a0 | 0.0 | 172.4 | 348.5 | 281.8 | 0.0 |
Total | \u00a0 | 458.1 | 177.4 | 413.5 | 865.9 | 825.2 |
Financial instruments with credit risk by assigned rating group 2023 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s-rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables | Trade receivables | Invest-ments and cash and cash equivalents |
A | up to Aa3 | 269.7 | 0.0 | 0.0 | 82.4 | 297.6 |
B | up to A3 | 150.8 | 4.6 | 38.1 | 158.0 | 617.7 |
C1\u2013C3 | up to Baa3 | 0.0 | 1.1 | 0.0 | 435.9 | 48.7 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 18.7 | 0.0 |
Not rated | \u00a0 | 0.0 | 166.5 | 437.7 | 277.1 | 0.0 |
Total | \u00a0 | 420.5 | 172.2 | 475.8 | 972.0 | 964.0 |
Financial instruments subject to credit risk by assigned rating group\u00a0 | \u00a0 | \u20acm | |
\u00a0 | \u00a0 | 2023 | 2024 |
Credit rating group | Equiva- lent Moody\u2019s-rating | Derivatives in the energy area | Derivatives in the energy area |
A | up to Aa3 | 109.9 | 0.1 |
B | up to A3 | 286.3 | 123.1 |
C1\u2013C3 | up to Baa3 | 1,147.9 | 247.7 |
D1\u2013D5 | below Baa3 | 19.2 | 8.0 |
Total | \u00a0 | 1,563.3 | 378.8 |
Sales and procurement (cash flow hedges) as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 253.6 | 177.6 | 76.0 |
Forwards | 152.1 | 42.6 | 109.5 |
Total before netting | 405.7 | 220.2 | 185.5 |
of which current | 393.4 | 204.9 | 188.5 |
of which non-current | 12.3 | 15.3 | \u2013\u00a03.0 |
of which in other comprehensive income | \u00a0 | \u00a0 | 185.5 |
Wholesale as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 227.7 | 313.7 | \u2013\u00a086.1 |
Forwards | 454.1 | 424.9 | 29.2 |
Total before netting | 681.8 | 738.7 | \u2013\u00a056.9 |
of which current | 573.4 | 544.1 | 29.4 |
of which non-current | 108.4 | 194.6 | \u2013\u00a086.2 |
Futures already realised | 187.9 | 124.9 | 62.9 |
Total | \u00a0 | \u00a0 | 6.1 |
Trading as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 12.2 | 12.8 | \u2013\u00a00.6 |
Forwards | 115.7 | 116.7 | \u2013\u00a01.0 |
Total before netting | 127.8 | 129.5 | \u2013\u00a01.7 |
of which current | 89.1 | 90.7 | \u2013\u00a01.7 |
of which non-current | 38.8 | 38.8 | 0.0 |
Total as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 493.4 | 504.2 | \u2013\u00a010.8 |
Forwards | 721.9 | 584.2 | 137.7 |
Total before netting | 1,215.3 | 1,088.4 | 127.0 |
Including netting agreements | \u2013\u00a0847.3 | \u2013\u00a0847.3 | 0.0 |
Total after netting | 368.0 | 241.0 | 127.0 |
EEX/ECX clearing variation margins for futures | 10.8 | 0.0 | 10.8 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 378.8 | 241.0 | 137.8 |
of which current | 329.8 | 102.9 | 226.9 |
of which non-current | 49.0 | 138.1 | \u2013\u00a089.1 |
Sales and procurement (cash flow hedges) as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 723.4 | 366.9 | 356.5 |
Forwards | 369.3 | 39.0 | 330.3 |
Total before netting | 1,092.7 | 405.9 | 686.8 |
of which current | 939.7 | 388.3 | 551.5 |
of which non-current | 152.9 | 17.6 | 135.3 |
of which in other comprehensive income | \u00a0 | \u00a0 | 686.8 |
Wholesale as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 671.5 | 999.8 | \u2013\u00a0328.3 |
Forwards | 1,707.6 | 838.8 | 868.8 |
Total before netting | 2,379.2 | 1,838.6 | 540.6 |
of which current | 1,984.7 | 1,604.0 | 380.7 |
of which non-current | 394.5 | 234.6 | 159.9 |
Futures already realised | 840.9 | 1,219.5 | \u2013\u00a0378.6 |
Total | \u00a0 | \u00a0 | 162.0 |
Trading as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 21.9 | 23.0 | \u2013\u00a01.0 |
Forwards | 300.8 | 295.0 | 5.8 |
Total before netting | 322.7 | 318.0 | 4.8 |
of which current | 280.6 | 275.6 | 5.1 |
of which non-current | 42.1 | 42.4 | \u2013\u00a00.3 |
Total as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 1,416.9 | 1,389.7 | 27.2 |
Forwards | 2,377.7 | 1,172.8 | 1,204.9 |
Total before netting | 3,794.5 | 2,562.5 | 1,232.1 |
Including netting agreements | \u2013\u00a02,199.3 | \u2013\u00a02,199.3 | 0.0 |
Total after netting | 1,595.3 | 363.2 | 1,232.1 |
EEX/ECX clearing variation margins for futures | \u2013\u00a031.9 | 0.0 | \u2013\u00a031.9 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 1,563.3 | 363.2 | 1,200.1 |
of which current | 1,207.2 | 302.4 | 904.8 |
of which non-current | 356.2 | 60.9 | 295.3 |
Sensitivity: market price fluctuation of +\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | \u2013\u00a025.1 | \u2013\u00a019.5 |
Effect on equity (revaluation reserve from cash flow hedges) | \u2013\u00a0183.9 | \u2013\u00a0171.5 |
\u00a0 | \u00a0 | \u00a0 |
Sensitivity: market price fluctuation of \u2013\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | 25.1 | 19.5 |
Effect on equity (revaluation reserve from cash flow hedges) | 183.9 | 171.5 |
Depreciation and amortisation | \u20acm | |
\u00a0 | 2023 | 2024 |
Depreciation of property, plant and equipment | 502.9 | 537.0 |
Amortisation of intangible assets | 21.4 | 25.1 |
Depreciation of right-of-use assets | 12.7 | 15.7 |
Depreciation and amortisation | 537.0 | 577.8 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 976.2 | 1,034.3 | 2,010.5 |
Additions | 63.4 | 0.0 | 63.4 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Reclassifications | 18.8 | 0.0 | 18.8 |
Cost as at 31/12 | 1,055.7 | 1,034.3 | 2,090.0 |
Accumulated amortisation as at 1/1 | 610.5 | 399.8 | 1,010.3 |
Depreciation | 25.1 | 0.0 | 25.1 |
Impairment losses | 24.7 | 0.0 | 24.7 |
Reversals of impairment losses | \u2013\u00a086.1 | 0.0 | \u2013\u00a086.1 |
Disposals | \u2013\u00a02.4 | 0.0 | \u2013\u00a02.4 |
Reclassifications | 13.2 | 0.0 | 13.2 |
Accumulated amortisation as at 31/12 | 585.0 | 399.8 | 984.8 |
Net carrying amount as at 31/12 | 470.7 | 634.5 | 1,105.2 |
Net carrying amount as at 1/1 | 365.7 | 634.5 | 1,000.2 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 922.5 | 1,027.9 | 1,950.4 |
Change in the scope of consolidation | \u2013\u00a039.9 | 0.0 | \u2013\u00a039.9 |
Additions from business acquisitions | 1.8 | 6.4 | 8.2 |
Additions | 92.3 | 0.0 | 92.3 |
Disposals | \u2013\u00a04.7 | 0.0 | \u2013\u00a04.7 |
Reclassifications | 4.3 | 0.0 | 4.3 |
Cost as at 31/12 | 976.2 | 1,034.3 | 2,010.5 |
Accumulated amortisation as at 1/1 | 384.2 | 321.4 | 705.6 |
Additions from business acquisitions | 0.1 | 0.0 | 0.1 |
Depreciation | 21.4 | 0.0 | 21.4 |
Impairment losses | 207.5 | 78.4 | 285.9 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Accumulated amortisation as at 31/12 | 610.5 | 399.8 | 1,010.3 |
Net carrying amount as at 31/12 | 365.7 | 634.5 | 1,000.2 |
Net carrying amount as at 1/1 | 538.2 | 706.5 | 1,244.8 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Additions | 96.4 | 170.0 | 114.5 | 4.8 | 39.4 | 6.8 | 752.5 | 1,184.5 |
Disposals | \u2013\u00a02.0 | \u2013\u00a010.3 | \u2013\u00a08.6 | \u2013\u00a00.4 | \u2013\u00a08.6 | \u2013\u00a00.7 | \u2013\u00a01.7 | \u2013\u00a032.2 |
Reclassifications | 197.5 | 117.2 | 192.3 | 11.5 | 5.1 | 0.1 | \u2013\u00a0528.5 | \u2013\u00a04.8 |
Cost as at 31/12 | 8,889.6 | 5,857.6 | 5,250.6 | 1,704.6 | 333.7 | 778.1 | 2,220.7 | 25,034.7 |
Accumulated depreciation as at 1/1 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Additions | 0.0 | 23.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 23.4 |
Depreciation | 122.6 | 165.0 | 165.4 | 35.4 | 28.6 | 20.0 | 0.0 | 537.0 |
Impairment losses | 40.6 | 78.0 | 37.4 | 2.2 | 2.5 | 97.4 | 8.7 | 266.9 |
Reversals of impairment losses | \u2013\u00a05.7 | \u2013\u00a013.2 | \u2013\u00a09.3 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a028.3 |
Disposals | \u2013\u00a00.6 | \u2013\u00a07.8 | \u2013\u00a07.0 | 0.0 | \u2013\u00a08.2 | \u2013\u00a00.7 | 0.0 | \u2013\u00a024.2 |
Reclassifications | 10.8 | \u2013\u00a02.0 | 1.7 | 0.0 | 0.1 | 0.0 | \u2013\u00a09.6 | 0.9 |
Accumulated depreciation as at 31/12 | 3,895.8 | 3,274.8 | 3,056.1 | 949.8 | 219.9 | 553.7 | 14.9 | 11,964.9 |
Net carrying amount as at 31/12 | 4,993.9 | 2,582.8 | 2,194.5 | 754.9 | 113.8 | 224.4 | 2,205.8 | 13,069.9 |
Net carrying amount as at 1/1 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,480.5 | 5,123.2 | 4,625.7 | 1,672.4 | 276.6 | 767.9 | 1,547.8 | 22,494.0 |
Foreign exchange differences | \u2013\u00a00.2 | \u2013\u00a01.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a01.7 |
Change in the scope of consolidation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 51.5 | 51.5 |
Additions from business acquisitions | 1.8 | 0.0 | 1.0 | 0.0 | 0.3 | 0.0 | 0.0 | 3.0 |
Additions | 50.3 | 465.0 | 111.0 | 12.8 | 35.7 | 4.2 | 771.5 | 1,450.5 |
Disposals | \u2013\u00a02.1 | \u2013\u00a0258.2 | \u2013\u00a062.5 | \u2013\u00a01.7 | \u2013\u00a015.1 | \u2013\u00a00.5 | \u2013\u00a00.4 | \u2013\u00a0340.6 |
Reclassifications | 67.3 | 252.1 | 277.0 | 5.1 | 0.4 | 0.4 | \u2013\u00a0372.1 | 230.4 |
Cost as at 31/12 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Accumulated depreciation as at 1/1 | 3,596.6 | 2,818.4 | 2,752.7 | 876.9 | 187.9 | 373.2 | 11.9 | 10,617.5 |
Foreign exchange differences | 0.0 | \u2013\u00a00.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a00.8 |
Additions from business acquisitions | 0.3 | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.6 |
Depreciation | 123.2 | 139.0 | 157.2 | \u2013\u00a04.3 | 23.2 | 64.4 | 0.0 | 502.9 |
Impairment losses | 20.5 | 101.9 | 34.6 | 40.3 | 0.5 | 0.0 | 0.6 | 198.3 |
Reversals of impairment losses | \u2013\u00a011.6 | 0.0 | \u2013\u00a019.4 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a031.0 |
Disposals | \u2013\u00a01.7 | \u2013\u00a0257.3 | \u2013\u00a057.5 | \u2013\u00a00.7 | \u2013\u00a014.8 | \u2013\u00a00.6 | \u2013\u00a00.3 | \u2013\u00a0333.0 |
Reclassifications | 0.8 | 230.1 | 0.2 | 0.0 | 0.0 | 0.0 | 3.7 | 234.7 |
Accumulated depreciation as at 31/12 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Net carrying amount as at 31/12 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Net carrying amount as at 1/1 | 4,883.9 | 2,304.8 | 1,873.1 | 795.5 | 88.7 | 394.6 | 1,535.9 | 11,876.5 |
Right-of-use assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Land and buildings | Electrical installations | Power lines | Operating and office equipment | Total |
Balance at 1/1/2024 | 129.9 | 13.1 | 21.1 | 5.7 | 169.7 |
Additions | 33.0 | 0.3 | 7.4 | 4.5 | 45.2 |
Depreciation | \u2013\u00a012.2 | \u2013\u00a00.7 | 0.0 | \u2013\u00a02.7 | \u2013\u00a015.7 |
Disposals | \u2013\u00a00.2 | \u2013\u00a04.2 | 0.0 | \u2013\u00a00.2 | \u2013\u00a04.6 |
Balance at 31/12/2024 | 150.5 | 8.4 | 28.5 | 7.3 | 194.6 |
Right-of-use assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Land and buildings | Electrical installations | Power lines | Operating and office equipment | Total |
Balance at 1/1/2023 | 113.1 | 9.2 | 20.0 | 4.4 | 146.6 |
Additions | 35.8 | 4.7 | 1.1 | 3.6 | 45.2 |
Depreciation | \u2013\u00a09.9 | \u2013\u00a00.8 | 0.0 | \u2013\u00a02.1 | \u2013\u00a012.8 |
Disposals | \u2013\u00a09.1 | 0.0 | 0.0 | \u2013\u00a00.2 | \u2013\u00a09.3 |
Balance at 31/12/2023 | 129.9 | 13.1 | 21.1 | 5.7 | 169.7 |
Impairment losses and reversals of impairment losses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Gas Connect Austria GmbH1 | \u2013\u00a056.9 | \u2013\u00a0172.4 |
Mellach combined cycle gas turbine power plant1 | \u2013\u00a064.7 | \u2013\u00a066.8 |
Deferred grants for the Mellach combined cycle gas turbine power plant1 | 1.7 | 0.7 |
Spain photovoltaic portfolio: cash-generating units1 | \u2013\u00a025.0 | \u2013\u00a08.3 |
Of CGUs in the Spain renewables portfolio \u2013 existing projects1 | 29.9 | \u2013\u00a07.2 |
Graz power plant on the Mur River1 | 0.0 | 1.3 |
Spain wind portfolio: cash-generating units1 | \u2013\u00a054.0 | 11.6 |
CGUs in the Spain renewables portfolio \u2013 development projects1 | \u2013\u00a0204.1 | 64.5 |
\u00a0 | \u00a0 | \u00a0 |
Goodwill Spanish renewables portfolio2 | \u2013\u00a078.4 | 0.0 |
Impairment losses and reversals of impairment losses | \u2013\u00a0451.6 | \u2013\u00a0176.6 |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.9m \u20ac+\u00a00.9m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.6m \u20ac+\u00a00.6m |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 976.2 | 1,034.3 | 2,010.5 |
Additions | 63.4 | 0.0 | 63.4 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Reclassifications | 18.8 | 0.0 | 18.8 |
Cost as at 31/12 | 1,055.7 | 1,034.3 | 2,090.0 |
Accumulated amortisation as at 1/1 | 610.5 | 399.8 | 1,010.3 |
Depreciation | 25.1 | 0.0 | 25.1 |
Impairment losses | 24.7 | 0.0 | 24.7 |
Reversals of impairment losses | \u2013\u00a086.1 | 0.0 | \u2013\u00a086.1 |
Disposals | \u2013\u00a02.4 | 0.0 | \u2013\u00a02.4 |
Reclassifications | 13.2 | 0.0 | 13.2 |
Accumulated amortisation as at 31/12 | 585.0 | 399.8 | 984.8 |
Net carrying amount as at 31/12 | 470.7 | 634.5 | 1,105.2 |
Net carrying amount as at 1/1 | 365.7 | 634.5 | 1,000.2 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 922.5 | 1,027.9 | 1,950.4 |
Change in the scope of consolidation | \u2013\u00a039.9 | 0.0 | \u2013\u00a039.9 |
Additions from business acquisitions | 1.8 | 6.4 | 8.2 |
Additions | 92.3 | 0.0 | 92.3 |
Disposals | \u2013\u00a04.7 | 0.0 | \u2013\u00a04.7 |
Reclassifications | 4.3 | 0.0 | 4.3 |
Cost as at 31/12 | 976.2 | 1,034.3 | 2,010.5 |
Accumulated amortisation as at 1/1 | 384.2 | 321.4 | 705.6 |
Additions from business acquisitions | 0.1 | 0.0 | 0.1 |
Depreciation | 21.4 | 0.0 | 21.4 |
Impairment losses | 207.5 | 78.4 | 285.9 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Accumulated amortisation as at 31/12 | 610.5 | 399.8 | 1,010.3 |
Net carrying amount as at 31/12 | 365.7 | 634.5 | 1,000.2 |
Net carrying amount as at 1/1 | 538.2 | 706.5 | 1,244.8 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Additions | 96.4 | 170.0 | 114.5 | 4.8 | 39.4 | 6.8 | 752.5 | 1,184.5 |
Disposals | \u2013\u00a02.0 | \u2013\u00a010.3 | \u2013\u00a08.6 | \u2013\u00a00.4 | \u2013\u00a08.6 | \u2013\u00a00.7 | \u2013\u00a01.7 | \u2013\u00a032.2 |
Reclassifications | 197.5 | 117.2 | 192.3 | 11.5 | 5.1 | 0.1 | \u2013\u00a0528.5 | \u2013\u00a04.8 |
Cost as at 31/12 | 8,889.6 | 5,857.6 | 5,250.6 | 1,704.6 | 333.7 | 778.1 | 2,220.7 | 25,034.7 |
Accumulated depreciation as at 1/1 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Additions | 0.0 | 23.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 23.4 |
Depreciation | 122.6 | 165.0 | 165.4 | 35.4 | 28.6 | 20.0 | 0.0 | 537.0 |
Impairment losses | 40.6 | 78.0 | 37.4 | 2.2 | 2.5 | 97.4 | 8.7 | 266.9 |
Reversals of impairment losses | \u2013\u00a05.7 | \u2013\u00a013.2 | \u2013\u00a09.3 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a028.3 |
Disposals | \u2013\u00a00.6 | \u2013\u00a07.8 | \u2013\u00a07.0 | 0.0 | \u2013\u00a08.2 | \u2013\u00a00.7 | 0.0 | \u2013\u00a024.2 |
Reclassifications | 10.8 | \u2013\u00a02.0 | 1.7 | 0.0 | 0.1 | 0.0 | \u2013\u00a09.6 | 0.9 |
Accumulated depreciation as at 31/12 | 3,895.8 | 3,274.8 | 3,056.1 | 949.8 | 219.9 | 553.7 | 14.9 | 11,964.9 |
Net carrying amount as at 31/12 | 4,993.9 | 2,582.8 | 2,194.5 | 754.9 | 113.8 | 224.4 | 2,205.8 | 13,069.9 |
Net carrying amount as at 1/1 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,480.5 | 5,123.2 | 4,625.7 | 1,672.4 | 276.6 | 767.9 | 1,547.8 | 22,494.0 |
Foreign exchange differences | \u2013\u00a00.2 | \u2013\u00a01.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a01.7 |
Change in the scope of consolidation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 51.5 | 51.5 |
Additions from business acquisitions | 1.8 | 0.0 | 1.0 | 0.0 | 0.3 | 0.0 | 0.0 | 3.0 |
Additions | 50.3 | 465.0 | 111.0 | 12.8 | 35.7 | 4.2 | 771.5 | 1,450.5 |
Disposals | \u2013\u00a02.1 | \u2013\u00a0258.2 | \u2013\u00a062.5 | \u2013\u00a01.7 | \u2013\u00a015.1 | \u2013\u00a00.5 | \u2013\u00a00.4 | \u2013\u00a0340.6 |
Reclassifications | 67.3 | 252.1 | 277.0 | 5.1 | 0.4 | 0.4 | \u2013\u00a0372.1 | 230.4 |
Cost as at 31/12 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Accumulated depreciation as at 1/1 | 3,596.6 | 2,818.4 | 2,752.7 | 876.9 | 187.9 | 373.2 | 11.9 | 10,617.5 |
Foreign exchange differences | 0.0 | \u2013\u00a00.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a00.8 |
Additions from business acquisitions | 0.3 | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.6 |
Depreciation | 123.2 | 139.0 | 157.2 | \u2013\u00a04.3 | 23.2 | 64.4 | 0.0 | 502.9 |
Impairment losses | 20.5 | 101.9 | 34.6 | 40.3 | 0.5 | 0.0 | 0.6 | 198.3 |
Reversals of impairment losses | \u2013\u00a011.6 | 0.0 | \u2013\u00a019.4 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a031.0 |
Disposals | \u2013\u00a01.7 | \u2013\u00a0257.3 | \u2013\u00a057.5 | \u2013\u00a00.7 | \u2013\u00a014.8 | \u2013\u00a00.6 | \u2013\u00a00.3 | \u2013\u00a0333.0 |
Reclassifications | 0.8 | 230.1 | 0.2 | 0.0 | 0.0 | 0.0 | 3.7 | 234.7 |
Accumulated depreciation as at 31/12 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Net carrying amount as at 31/12 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Net carrying amount as at 1/1 | 4,883.9 | 2,304.8 | 1,873.1 | 795.5 | 88.7 | 394.6 | 1,535.9 | 11,876.5 |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for SMATRICS GmbH & Co KG as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 11.75% | \u00b1 0.25 PP | \u20ac\u20134.2m \u20ac+\u00a04.4m |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Impairment testing of Gas Connect Austria GmbH, including Austrian Gas Grid Management AG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | GCA\u2019s transmission system and distribution network, including AGGM | GCA\u2019s transmission system and distribution network, including AGGM |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | GCA budgets (based primarily on market data) | GCA budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 21 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 6 years; rough planning phase: 20 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac444.4m | \u20ac344.8m |
Change in value during the period1 | \u20ac\u201356.9m | \u20ac\u2013172.4m |
Sensitivity analysis for GCA (including AGGM) as at 31/12/2024\u00a0 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a05.9m \u20ac\u2013\u00a06.2m |
Sensitivity analysis for GCA incl. AGGM 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac+\u00a06.0m \u20ac\u2013\u00a06.0m |
Impairment testing of the Mellach combined cycle gas turbine power plant | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) |
Indications of impairment | Updated electricity or gas price forecasts | Updated electricity or gas price forecasts |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) |
Volume | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) |
Pricing | Internal and external price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter for one line (Q4/2023 to Q1/2024); estimate of operating, maintenance and downtime costs by the responsible managers | External price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter until Q1/2027; estimate of operating, maintenance and downtime costs by the responsible managers |
Planning period | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) |
Key valuation assumptions | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, performance of clean spark spreads | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, development of clean spark spreads |
After-tax discount rate | WACC: 6.25% | WACC: 5.50% |
Recoverable amount | \u20ac161.3m | \u20ac90.9m |
Change in value during the period1 | \u20ac\u201363.0m | \u20ac\u201366.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac+4.4m \u20ac\u20134.1m |
Sensitivity analysis for the Mellach combined cycle gas turbine power plant as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac+2.9m \u20ac\u20132.9m |
Impairment testing of existing projects in the Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | PV portfolios with a capacity of 82.1\u00a0MWp in operation (Anselma Issuer, S.A.U. and Topacio Energy, S.L.U.) | Wind/photovoltaic portfolios with a capacity of 174.1\u00a0MWp in operation (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Tariffs for the next 14\u201317 years, followed by internal price forecasts | Tariffs for the next 13\u201316 years, followed by internal price forecasts (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U.) or internal price forecasts only (VERBUND Green Power Renewable Projects, S.L.U.) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 13 \u201314 years for the Anselma Issuer, S.A.U. portfolio and 13\u201316 years for the Topacio Energy, S.L.U. portfolio. | Detailed planning phase: 6 years; rough planning phase: 12 \u201313 years for the Anselma Issuer, S.A.U. portfolio, 12\u201315 years for the Topacio Energy, S.L.U. portfolio and 29 years for the VERBUND Green Power Renewable Projects, S.L.U. portfolio. |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac348.8m | \u20ac438.9m |
Change in value during the period3 | \u20ac+29.9 | \u20ac\u2013\u00a07.2m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/20241 | |||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio | Effects on the recoverable amount of the VERBUND Green Power Renewable Projects, S.L.U. portfolio |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u20132.3m \u20ac+2.3m | \u20ac\u20133.1m \u20ac+3.2m | \u20ac\u20131.3m \u20ac+1.4m |
Electricity price2 | 37.0 \u20ac pro MWh (PV) / 76.4 \u20ac pro MWh (Wind) | \u00b1 5% | n/a | n/a | \u20ac+2.4m \u20ac\u20132.4m |
Sensitivity analysis for existing projects in the Spain renewables portfolio as at 31/12/2023\u00a0 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount, Anselma Issuer, S.A.U. portfolio | Effects on the recoverable amount, Topacio Energy, S.L.U. portfolio |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u20132.0m \u20ac+2.0m | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | n/a | n/a | n/a | n/a |
Impairment testing of development projects in Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Wind/photovoltaic portfolios with a capacity of 1,827\u00a0MW under development (Tejo Solar, S.L.U, Catalpa Solar, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.) | Photovoltaic portfolios with a capacity of 1,576.7 \u00a0MW under development (Tejo Solar, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts, increase in CapEx and postponement of commissioning | Updated electricity price forecasts, updated discount rate, increase in CapEx and postponement of commissioning |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years (PV), 24\u00a0years (wind) | Detailed planning phase: 6 years; rough planning phase: 29 years (PV) |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac202.2m | \u20ac222.4m |
Change in value during the period3 | \u20ac\u2013\u00a0204.1m | \u20ac+\u00a064.5m |
| |||||||||||||||||||||
Sensitivity analysis for development projects in the Spain renewables portfolio as at 31/12/2023 | ||||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount of Catalpa Solar, S.L.U. portfolio | Effects on the recoverable amount of Tejo Solar, S.L.U. portfolio |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a04.0m \u20ac+\u00a04.0m | \u20ac\u2013\u00a023.0m \u20ac+\u00a023.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+\u00a09.0m \u20ac\u2013\u00a09.0m | \u20ac+\u00a048.0m \u20ac\u2013\u00a048.0m |
Impairment testing of the Spain photovoltaic portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years | Detailed planning phase: 6 years; rough planning phase: 28 years |
Key valuation assumptions | Discount rate | Discount rate |
After-tax discount rate1 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac105.6m | \u20ac95.7m |
Change in value during the period | \u20ac\u201125.0m | \u20ac\u2013\u00a08.3m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a03.2m \u20ac+\u00a03.3m |
Electricity price2 | \u20ac37.0 per MWh | \u00b1 5% | \u20ac+\u00a06.1m \u20ac\u2013\u00a06.1m |
Sensitivity analysis for the Spain photovoltaic portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.50% | \u00b1 0.25 PP | \u20ac\u20133.0m \u20ac+3.0m |
Electricity price | \u20ac40.5 per MWh | \u00b1 5% | \u20ac+6.0m \u20ac\u20136.0m |
Impairment testing of the Spain wind portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) |
Basis for recoverable amount | Fair value (Level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Price | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 50 years | Detailed planning phase: 6 years; rough planning phase: 49 years |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac438.1m | \u20ac431.2m |
Change in value during the period | \u20ac\u201354.0m | \u20ac+\u00a011.6m |
Sensitivity analysis for the Spain wind portfolio as at 31/12/20241 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.00% / 5.50% | \u00b1 0.25 PP | \u20ac\u2013\u00a016.0m \u20ac+\u00a017.2m |
Electricity price2 | n/a | n/a | n/a |
Sensitivity analysis for the Spain wind portfolio as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 5.75% / 6.50% | \u00b1 0.25 PP | \u20ac\u201313.0m \u20ac+14.0m |
Electricity price | n/a | n/a | n/a |
Interests accounted for using the equity method | \u20acm | |
\u00a0 | 2023 | 2024 |
Amortised cost as at 1/1 | 425.4 | 549.9 |
Additions1 | 5.4 | 17.7 |
Dividends2 | 9.5 | \u2013\u00a015.6 |
Result from equity accounting | 84.9 | 101.3 |
Other comprehensive income from equity accounting | 24.7 | 2.2 |
Change in consolidation method | 0.0 | \u2013\u00a02.7 |
Amortised cost as at 31/12 | 549.9 | 652.6 |
Accumulated value adjustments as at 1/1 | \u2013\u00a059.8 | \u2013\u00a033.1 |
Reversals of impairment losses | 26.6 | 13.5 |
Accumulated value adjustments as at 31/12 | \u2013\u00a033.1 | \u2013\u00a019.7 |
Net carrying amount as at 31/12 | 516.7 | 633.0 |
Net carrying amount as at 1/1 | 365.5 | 516.7 |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.9m \u20ac+\u00a00.9m |
Sensitivity analysis for Trans Austria Gasleitung GmbH as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | (Please refer to the table above) | \u00b1 0.25 PP | \u20ac\u2013\u00a00.6m \u20ac+\u00a00.6m |
Interests accounted for using the equity method | \u20acm | |
\u00a0 | 2023 | 2024 |
Amortised cost as at 1/1 | 425.4 | 549.9 |
Additions1 | 5.4 | 17.7 |
Dividends2 | 9.5 | \u2013\u00a015.6 |
Result from equity accounting | 84.9 | 101.3 |
Other comprehensive income from equity accounting | 24.7 | 2.2 |
Change in consolidation method | 0.0 | \u2013\u00a02.7 |
Amortised cost as at 31/12 | 549.9 | 652.6 |
Accumulated value adjustments as at 1/1 | \u2013\u00a059.8 | \u2013\u00a033.1 |
Reversals of impairment losses | 26.6 | 13.5 |
Accumulated value adjustments as at 31/12 | \u2013\u00a033.1 | \u2013\u00a019.7 |
Net carrying amount as at 31/12 | 516.7 | 633.0 |
Net carrying amount as at 1/1 | 365.5 | 516.7 |
Material associates: statement of comprehensive income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Revenue | 2,673.4 | 1,928.9 |
Profit after tax | 432.1 | 456.3 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Profit or loss for the period attributable to VERBUND | 152.0 | 160.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Share of profit or loss from associates accounted for using the equity method | 78.2 | 100.5 |
\u00a0 | \u00a0 | \u00a0 |
Profit after tax | 432.1 | 456.3 |
Other comprehensive income | 70.2 | 4.0 |
Total comprehensive income for the period | 502.3 | 460.2 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Total comprehensive income for the period attributable to VERBUND | 176.6 | 161.8 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Total comprehensive income for the period from associates accounted for using the equity method | 102.9 | 101.9 |
Dividends received from associates | 35.2 | 80.9 |
Material associates: balance sheet | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Non-current assets | 2,319.6 | 2,428.1 |
Current assets | 1,023.8 | 1,032.1 |
Non-current liabilities | \u2013\u00a01,117.1 | \u2013\u00a01,102.2 |
Current liabilities | \u2013\u00a0689.4 | \u2013\u00a0586.5 |
Equity attributable to non-controlling interests | \u2013\u00a014.4 | \u2013\u00a018.7 |
Net assets | 1,522.5 | 1,752.8 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Net assets attributable to VERBUND | 535.4 | 616.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a0127.5 | \u2013\u00a0120.0 |
Carrying amount of associates accounted for using the equity method | 407.9 | 496.3 |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Interest income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest from investments under closed items on the balance sheet | 32.2 | 33.3 |
Interest from money market transactions | 23.6 | 37.7 |
Interest from clearing and trading banks | 6.5 | 4.3 |
Other interest and similar income | 7.0 | 6.5 |
Interest income | 69.3 | 81.8 |
Interest income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest from investments under closed items on the balance sheet | 32.2 | 33.3 |
Interest from money market transactions | 23.6 | 37.7 |
Interest from clearing and trading banks | 6.5 | 4.3 |
Other interest and similar income | 7.0 | 6.5 |
Interest income | 69.3 | 81.8 |
Interest expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest on financial liabilities under closed items on the balance sheet | 32.2 | 33.3 |
Net interest expense for personnel-related liabilities | 18.3 | 18.7 |
Interest on bonds | 20.0 | 17.9 |
Provision fees and cost of procuring credit | 9.4 | 16.3 |
Interest on bank loans | 28.2 | 11.8 |
Interest on other liabilities from electricity supply commitments | 11.5 | 10.2 |
Interest on a share redemption obligation | 7.3 | 8.2 |
Interest on other non-current provisions | 2.1 | 3.4 |
Interest on money market transactions | 10.7 | 2.6 |
Borrowing costs capitalised in accordance with IAS\u00a023 | \u2013\u00a08.3 | \u2013\u00a011.7 |
Other interest and similar expenses | 11.7 | 14.5 |
Interest expenses | 143.2 | 125.2 |
Interest income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest from investments under closed items on the balance sheet | 32.2 | 33.3 |
Interest from money market transactions | 23.6 | 37.7 |
Interest from clearing and trading banks | 6.5 | 4.3 |
Other interest and similar income | 7.0 | 6.5 |
Interest income | 69.3 | 81.8 |
Interest expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest on financial liabilities under closed items on the balance sheet | 32.2 | 33.3 |
Net interest expense for personnel-related liabilities | 18.3 | 18.7 |
Interest on bonds | 20.0 | 17.9 |
Provision fees and cost of procuring credit | 9.4 | 16.3 |
Interest on bank loans | 28.2 | 11.8 |
Interest on other liabilities from electricity supply commitments | 11.5 | 10.2 |
Interest on a share redemption obligation | 7.3 | 8.2 |
Interest on other non-current provisions | 2.1 | 3.4 |
Interest on money market transactions | 10.7 | 2.6 |
Borrowing costs capitalised in accordance with IAS\u00a023 | \u2013\u00a08.3 | \u2013\u00a011.7 |
Other interest and similar expenses | 11.7 | 14.5 |
Interest expenses | 143.2 | 125.2 |
Other financial result | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Change in a profit participation right with respect to material assets1 | 11.5 | 13.0 |
Income from securities and loans | 2.8 | 7.6 |
Reversal of impairment losses on securities | 9.9 | 4.4 |
Change in an obligation to return an interest2 | 1.5 | \u2013\u00a054.0 |
Other | 0.0 | \u2013\u00a00.8 |
Other financial result | 25.7 | \u2013\u00a030.2 |
Interest income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest from investments under closed items on the balance sheet | 32.2 | 33.3 |
Interest from money market transactions | 23.6 | 37.7 |
Interest from clearing and trading banks | 6.5 | 4.3 |
Other interest and similar income | 7.0 | 6.5 |
Interest income | 69.3 | 81.8 |
Other financial result | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Change in a profit participation right with respect to material assets1 | 11.5 | 13.0 |
Income from securities and loans | 2.8 | 7.6 |
Reversal of impairment losses on securities | 9.9 | 4.4 |
Change in an obligation to return an interest2 | 1.5 | \u2013\u00a054.0 |
Other | 0.0 | \u2013\u00a00.8 |
Other financial result | 25.7 | \u2013\u00a030.2 |
Interest expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest on financial liabilities under closed items on the balance sheet | 32.2 | 33.3 |
Net interest expense for personnel-related liabilities | 18.3 | 18.7 |
Interest on bonds | 20.0 | 17.9 |
Provision fees and cost of procuring credit | 9.4 | 16.3 |
Interest on bank loans | 28.2 | 11.8 |
Interest on other liabilities from electricity supply commitments | 11.5 | 10.2 |
Interest on a share redemption obligation | 7.3 | 8.2 |
Interest on other non-current provisions | 2.1 | 3.4 |
Interest on money market transactions | 10.7 | 2.6 |
Borrowing costs capitalised in accordance with IAS\u00a023 | \u2013\u00a08.3 | \u2013\u00a011.7 |
Other interest and similar expenses | 11.7 | 14.5 |
Interest expenses | 143.2 | 125.2 |
Other financial result | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Change in a profit participation right with respect to material assets1 | 11.5 | 13.0 |
Income from securities and loans | 2.8 | 7.6 |
Reversal of impairment losses on securities | 9.9 | 4.4 |
Change in an obligation to return an interest2 | 1.5 | \u2013\u00a054.0 |
Other | 0.0 | \u2013\u00a00.8 |
Other financial result | 25.7 | \u2013\u00a030.2 |
Interest expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest on financial liabilities under closed items on the balance sheet | 32.2 | 33.3 |
Net interest expense for personnel-related liabilities | 18.3 | 18.7 |
Interest on bonds | 20.0 | 17.9 |
Provision fees and cost of procuring credit | 9.4 | 16.3 |
Interest on bank loans | 28.2 | 11.8 |
Interest on other liabilities from electricity supply commitments | 11.5 | 10.2 |
Interest on a share redemption obligation | 7.3 | 8.2 |
Interest on other non-current provisions | 2.1 | 3.4 |
Interest on money market transactions | 10.7 | 2.6 |
Borrowing costs capitalised in accordance with IAS\u00a023 | \u2013\u00a08.3 | \u2013\u00a011.7 |
Other interest and similar expenses | 11.7 | 14.5 |
Interest expenses | 143.2 | 125.2 |
Interest expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Interest on financial liabilities under closed items on the balance sheet | 32.2 | 33.3 |
Net interest expense for personnel-related liabilities | 18.3 | 18.7 |
Interest on bonds | 20.0 | 17.9 |
Provision fees and cost of procuring credit | 9.4 | 16.3 |
Interest on bank loans | 28.2 | 11.8 |
Interest on other liabilities from electricity supply commitments | 11.5 | 10.2 |
Interest on a share redemption obligation | 7.3 | 8.2 |
Interest on other non-current provisions | 2.1 | 3.4 |
Interest on money market transactions | 10.7 | 2.6 |
Borrowing costs capitalised in accordance with IAS\u00a023 | \u2013\u00a08.3 | \u2013\u00a011.7 |
Other interest and similar expenses | 11.7 | 14.5 |
Interest expenses | 143.2 | 125.2 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Impairment testing of Gas Connect Austria GmbH, including Austrian Gas Grid Management AG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | GCA\u2019s transmission system and distribution network, including AGGM | GCA\u2019s transmission system and distribution network, including AGGM |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | GCA budgets (based primarily on market data) | GCA budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 21 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 6 years; rough planning phase: 20 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac444.4m | \u20ac344.8m |
Change in value during the period1 | \u20ac\u201356.9m | \u20ac\u2013172.4m |
Impairment testing of the Mellach combined cycle gas turbine power plant | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) |
Indications of impairment | Updated electricity or gas price forecasts | Updated electricity or gas price forecasts |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) |
Volume | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) |
Pricing | Internal and external price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter for one line (Q4/2023 to Q1/2024); estimate of operating, maintenance and downtime costs by the responsible managers | External price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter until Q1/2027; estimate of operating, maintenance and downtime costs by the responsible managers |
Planning period | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) |
Key valuation assumptions | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, performance of clean spark spreads | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, development of clean spark spreads |
After-tax discount rate | WACC: 6.25% | WACC: 5.50% |
Recoverable amount | \u20ac161.3m | \u20ac90.9m |
Change in value during the period1 | \u20ac\u201363.0m | \u20ac\u201366.1m |
Impairment testing of existing projects in the Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | PV portfolios with a capacity of 82.1\u00a0MWp in operation (Anselma Issuer, S.A.U. and Topacio Energy, S.L.U.) | Wind/photovoltaic portfolios with a capacity of 174.1\u00a0MWp in operation (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Tariffs for the next 14\u201317 years, followed by internal price forecasts | Tariffs for the next 13\u201316 years, followed by internal price forecasts (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U.) or internal price forecasts only (VERBUND Green Power Renewable Projects, S.L.U.) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 13 \u201314 years for the Anselma Issuer, S.A.U. portfolio and 13\u201316 years for the Topacio Energy, S.L.U. portfolio. | Detailed planning phase: 6 years; rough planning phase: 12 \u201313 years for the Anselma Issuer, S.A.U. portfolio, 12\u201315 years for the Topacio Energy, S.L.U. portfolio and 29 years for the VERBUND Green Power Renewable Projects, S.L.U. portfolio. |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac348.8m | \u20ac438.9m |
Change in value during the period3 | \u20ac+29.9 | \u20ac\u2013\u00a07.2m |
Impairment testing of development projects in Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Wind/photovoltaic portfolios with a capacity of 1,827\u00a0MW under development (Tejo Solar, S.L.U, Catalpa Solar, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.) | Photovoltaic portfolios with a capacity of 1,576.7 \u00a0MW under development (Tejo Solar, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts, increase in CapEx and postponement of commissioning | Updated electricity price forecasts, updated discount rate, increase in CapEx and postponement of commissioning |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years (PV), 24\u00a0years (wind) | Detailed planning phase: 6 years; rough planning phase: 29 years (PV) |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac202.2m | \u20ac222.4m |
Change in value during the period3 | \u20ac\u2013\u00a0204.1m | \u20ac+\u00a064.5m |
Impairment testing of the Spain photovoltaic portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years | Detailed planning phase: 6 years; rough planning phase: 28 years |
Key valuation assumptions | Discount rate | Discount rate |
After-tax discount rate1 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac105.6m | \u20ac95.7m |
Change in value during the period | \u20ac\u201125.0m | \u20ac\u2013\u00a08.3m |
Impairment testing of the Spain wind portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) |
Basis for recoverable amount | Fair value (Level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Price | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 50 years | Detailed planning phase: 6 years; rough planning phase: 49 years |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac438.1m | \u20ac431.2m |
Change in value during the period | \u20ac\u201354.0m | \u20ac+\u00a011.6m |
Impairment of assets | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Stage 1 | Stage 2 | Stage 3 |
Credit risk | Low credit risk \u2013 (credit risk has not increased significantly since initial recognition) | Elevated credit risk \u2013 (credit risk has increased significantly since initial recognition) | Significant financial difficulties on the part of the borrower or the issuer (breach of contract) |
Recognition of loss allowance | Impairment in the amount of the 12-month expected losses | Impairment in the amount of expected lifetime losses | Impairment in the amount of expected lifetime losses |
Calculation of interest income | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the net carrying amount |
Impairment testing of Trans Austria Gasleitung GmbH | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Trans Austria Gasleitung GmbH, Austrian transmission system operator | Trans Austria Gasleitung GmbH, Austrian transmission system operator |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Trans Austria Gasleitung GmbH budgets (based primarily on market data) | Trans Austria Gasleitung GmbH budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 5 years; rough planning phase: 5 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac33.6m | \u20ac45.8m |
Change in value during the period | \u20ac+14.0m | \u20ac+13.5m |
Impairment of assets | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | Stage 1 | Stage 2 | Stage 3 |
Credit risk | Low credit risk \u2013 (credit risk has not increased significantly since initial recognition) | Elevated credit risk \u2013 (credit risk has increased significantly since initial recognition) | Significant financial difficulties on the part of the borrower or the issuer (breach of contract) |
Recognition of loss allowance | Impairment in the amount of the 12-month expected losses | Impairment in the amount of expected lifetime losses | Impairment in the amount of expected lifetime losses |
Calculation of interest income | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the gross carrying amount | Based on the effective interest rate on the net carrying amount |
Income tax rates applicable to subsidiaries | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Austria | 24.0 | 23.0 |
Germany \u2013 partnerships1 | 28.6 | 29.1 |
Germany \u2013 limited companies1 | 24.2\u2013\u00a032.4 | 24.2\u2013\u00a032.4 |
Spain | 25.0 | 25.0 |
Romania | 16.0 | 16.0 |
Italy | 24.0 | 24.0 |
Taxes on income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Current tax expenses1 | 759.9 | 630.5 |
Deferred income tax expenses2 | 65.4 | 8.0 |
Taxes on income | 825.3 | 638.5 |
Tax reconciliation | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Computed income tax expense | 853.8 | 639.0 |
Deviating tax rates | 10.3 | 9.0 |
Impairment testing of fixed assets | 19.8 | \u2013\u00a00.8 |
Tax-exempt investment income | \u2013\u00a01.8 | \u2013\u00a02.1 |
Write-offs and write-ups of equity investments | \u2013\u00a045.2 | \u2013\u00a07.4 |
Interests accounted for using the equity method | \u2013\u00a020.4 | \u2013\u00a023.3 |
Goodwill amortisation (IFRS) | 18.8 | 0.0 |
Impairment testing of equity-accounted and other interests | \u2013\u00a03.0 | 0.0 |
Other line items | \u2013\u00a02.6 | 5.0 |
Income tax expenses for the period | 829.7 | 619.4 |
Income tax income or expenses from prior periods (current and deferred) | \u2013\u00a04.4 | 19.0 |
Recognised income tax expenses | 825.3 | 638.5 |
Effective tax rate | 23.2% | 23.0% |
Taxes on other comprehensive income | \u20acm | |||||
\u00a0 | 2023 | 2023 | 2023 | 2024 | 2024 | 2024 |
\u00a0 | Before taxes | Taxes | After taxes | Before taxes | Taxes | After taxes |
Remeasurement of the net defined benefit liability | \u2013\u00a030.6 | 7.6 | \u2013\u00a023.0 | \u2013\u00a053.6 | 12.1 | \u2013\u00a041.5 |
Changes in financial instruments | 32.7 | \u2013\u00a07.5 | 25.2 | \u2013\u00a04.2 | 1.0 | \u2013\u00a03.2 |
Other comprehensive income from interests accounted for using the equity method | \u2013\u00a05.2 | \u2013 | \u2013\u00a05.2 | \u2013\u00a05.8 | \u2013 | \u2013\u00a05.8 |
Total for items that will not be reclassified subsequently to the income statement | \u2013\u00a03.2 | 0.1 | \u2013\u00a03.1 | \u2013\u00a063.6 | 13.0 | \u2013\u00a050.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Foreign exchange differences | \u2013\u00a01.5 | \u2013 | \u2013\u00a01.5 | 0.6 | \u2013 | 0.6 |
Changes in cash flow hedges | 2,150.1 | \u2013\u00a0503.3 | 1,646.8 | \u2013\u00a0505.6 | 116.4 | \u2013\u00a0389.2 |
Other comprehensive income from interests accounted for using the equity method | 30.6 | \u2013 | 30.6 | 7.2 | \u2013 | 7.2 |
Total for items that will be reclassified subsequently to the income statement | 2,179.2 | \u2013\u00a0503.3 | 1,675.9 | \u2013\u00a0497.8 | 116.4 | \u2013\u00a0381.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Other comprehensive income | 2,176.0 | \u2013\u00a0503.2 | 1,672.8 | \u2013\u00a0561.4 | 129.4 | \u2013\u00a0432.0 |
Current tax liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Taxes on income | 642.8 | 359.1 |
Other taxes | 9.0 | 8.4 |
Current tax liabilities | 651.8 | 367.4 |
Net deferred tax assets and liabilities\u00a0 | \u00a0 | \u00a0 | \u20acm | |
\u00a0 | 2023 | 2024 | ||
\u00a0 | Total assets | Total liabilities | Total assets | Total liabilities |
Property, plant and equipment | 71.2 | 1,034.7 | 2.3 | 1,059.7 |
Tax-deductible goodwill | 0.0 | 108.9 | 0.0 | 117.8 |
Write-downs of equity interests | 69.8 | 0.0 | 66.4 | 0.0 |
Financial instruments | 0.1 | 206.2 | 6.0 | 70.5 |
Special depreciation for tax purposes | 0.0 | 78.7 | 1.4 | 77.5 |
Provisions for employee benefits relating to pensions and termination benefits (Sozialkapital) | 70.5 | 0.0 | 80.1 | 0.0 |
Regulatory obligations | 0.0 | 120.7 | 0.0 | 134.7 |
Tax loss carryforwards | 73.9 | 0.0 | 95.6 | 0.0 |
Other line items | 123.3 | 156.3 | 67.6 | 35.6 |
Deferred tax assets/liabilities | 408.7 | 1,705.4 | 319.5 | 1,495.7 |
Netting of deferred tax assets and liabilities from the same tax authority | \u2013\u00a0345.9 | \u2013\u00a0345.9 | \u2013\u00a0260.2 | \u2013\u00a0260.2 |
Net deferred tax assets and liabilities | 62.8 | 1,359.5 | 59.3 | 1,235.5 |
Taxes on income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Current tax expenses1 | 759.9 | 630.5 |
Deferred income tax expenses2 | 65.4 | 8.0 |
Taxes on income | 825.3 | 638.5 |
Tax reconciliation | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Computed income tax expense | 853.8 | 639.0 |
Deviating tax rates | 10.3 | 9.0 |
Impairment testing of fixed assets | 19.8 | \u2013\u00a00.8 |
Tax-exempt investment income | \u2013\u00a01.8 | \u2013\u00a02.1 |
Write-offs and write-ups of equity investments | \u2013\u00a045.2 | \u2013\u00a07.4 |
Interests accounted for using the equity method | \u2013\u00a020.4 | \u2013\u00a023.3 |
Goodwill amortisation (IFRS) | 18.8 | 0.0 |
Impairment testing of equity-accounted and other interests | \u2013\u00a03.0 | 0.0 |
Other line items | \u2013\u00a02.6 | 5.0 |
Income tax expenses for the period | 829.7 | 619.4 |
Income tax income or expenses from prior periods (current and deferred) | \u2013\u00a04.4 | 19.0 |
Recognised income tax expenses | 825.3 | 638.5 |
Effective tax rate | 23.2% | 23.0% |
Net deferred tax assets and liabilities\u00a0 | \u00a0 | \u00a0 | \u20acm | |
\u00a0 | 2023 | 2024 | ||
\u00a0 | Total assets | Total liabilities | Total assets | Total liabilities |
Property, plant and equipment | 71.2 | 1,034.7 | 2.3 | 1,059.7 |
Tax-deductible goodwill | 0.0 | 108.9 | 0.0 | 117.8 |
Write-downs of equity interests | 69.8 | 0.0 | 66.4 | 0.0 |
Financial instruments | 0.1 | 206.2 | 6.0 | 70.5 |
Special depreciation for tax purposes | 0.0 | 78.7 | 1.4 | 77.5 |
Provisions for employee benefits relating to pensions and termination benefits (Sozialkapital) | 70.5 | 0.0 | 80.1 | 0.0 |
Regulatory obligations | 0.0 | 120.7 | 0.0 | 134.7 |
Tax loss carryforwards | 73.9 | 0.0 | 95.6 | 0.0 |
Other line items | 123.3 | 156.3 | 67.6 | 35.6 |
Deferred tax assets/liabilities | 408.7 | 1,705.4 | 319.5 | 1,495.7 |
Netting of deferred tax assets and liabilities from the same tax authority | \u2013\u00a0345.9 | \u2013\u00a0345.9 | \u2013\u00a0260.2 | \u2013\u00a0260.2 |
Net deferred tax assets and liabilities | 62.8 | 1,359.5 | 59.3 | 1,235.5 |
Earnings per share | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Profit for the period | 2,732.1 | 2,139.7 |
Profit for the period attributable to non-controlling interests | \u2013\u00a0466.0 | \u2013\u00a0264.4 |
Group result | 2,266.1 | 1,875.3 |
Weighted average number of shares in circulation | 347,415,686 | 347,415,686 |
Earnings per share in \u20ac1 | 6.52 | 5.40 |
Additional information on cash flow from financing activities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Dividends paid to the shareholders of VERBUND\u00a0AG | \u2013\u00a01,250.7 | \u2013\u00a01,441.8 |
Dividends paid to non-controlling interests | \u2013\u00a0302.9 | \u2013\u00a0492.2 |
Additional information regarding liabilities from financing activities | \u20acm | ||||||
\u00a0 | Non-cash changes | \u00a0 | |||||
2024 | Balance at 1/1/2024 | Cash flow from financing activities | Changes in the scope of consolidation | Fair value adjust-ments | Changes in exchange rates | Other changes | Balance at 31/12/2024 |
Bonds | 1,142.7 | \u2013\u00a020.4 | 0.0 | 0.0 | 0.0 | 13.2 | 1,135.4 |
Financial liabilities to banks | 1,097.4 | \u2013\u00a0194.5 | 43.8 | \u2013\u00a03.3 | 22.9 | 17.9 | 984.2 |
Other financial liabilities | 159.6 | \u2013\u00a014.7 | 0.0 | 0.0 | 0.0 | 0.1 | 145.0 |
Capital shares attributable to limited partners | 8.3 | 0.0 | 0.0 | 0.0 | 0.0 | 2.4 | 10.7 |
Total liabilities from financing activities | 2,408.0 | \u2013\u00a0229.7 | 43.8 | \u2013\u00a03.3 | 22.9 | 33.5 | 2,275.2 |
Additional information regarding liabilities from financing activities | \u20acm | ||||||
\u00a0 | Non-cash changes | \u00a0 | |||||
2023 | Balance at 1/1/2023 | Cash flow from financing activities | Changes in the scope of consolidation | Fair value adjust- ments | Changes in exchange rates | Other changes | Balance at 31/12/2023 |
Bonds | 1,151.0 | \u2013\u00a013.1 | 0.0 | 0.0 | 0.0 | 4.8 | 1,142.7 |
Financial liabilities to banks | 2,568.3 | \u2013\u00a01,451.4 | 1.5 | \u2013\u00a012.3 | \u2013\u00a016.9 | 8.1 | 1,097.3 |
Other financial liabilities | 175.1 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a015.5 | 159.6 |
Liability from put option | 52.1 | \u2013\u00a053.5 | 0.0 | 0.0 | 0.0 | 1.4 | 0.0 |
Capital shares attributable to limited partners | 7.3 | 0.0 | 0.0 | 0.0 | 0.0 | 1.0 | 8.3 |
Total liabilities from financing activities | 3,953.9 | \u2013\u00a01,518.0 | 1.5 | \u2013\u00a012.3 | \u2013\u00a016.9 | \u2013\u00a00.3 | 2,407.9 |
Additional information on cash flow from financing activities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Dividends paid to the shareholders of VERBUND\u00a0AG | \u2013\u00a01,250.7 | \u2013\u00a01,441.8 |
Dividends paid to non-controlling interests | \u2013\u00a0302.9 | \u2013\u00a0492.2 |
Investments and non-current other receivables | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Investments \u2013 closed items on the balance sheet | 401.4 | 347.6 |
Other investments and other receivables | 417.8 | 455.4 |
Total | 819.1 | 803.0 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 71.9 | 329.5 | 401.4 |
Foreign exchange differences | 4.4 | 19.0 | 23.5 |
Additions | 2.8 | 8.7 | 11.5 |
Capitalised interest | 0.0 | 12.3 | 12.3 |
Disposals | \u2013\u00a01.2 | \u2013\u00a05.1 | \u2013\u00a06.4 |
Amortised acquisition cost as at 31/12 | 77.9 | 364.4 | 442.3 |
of which non-current assets | 77.9 | 269.7 | 347.6 |
of which current assets | 0.0 | 94.7 | 94.7 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 73.2 | 334.1 | 407.3 |
Foreign exchange differences | \u2013\u00a02.7 | \u2013\u00a013.8 | \u2013\u00a016.5 |
Additions | 2.7 | 3.8 | 6.5 |
Capitalised interest | 0.0 | 11.5 | 11.6 |
Disposals | \u2013\u00a01.3 | \u2013\u00a06.1 | \u2013\u00a07.4 |
Amortised acquisition cost as at 31/12 | 71.9 | 329.5 | 401.4 |
of which non-current assets | 71.9 | 329.5 | 401.4 |
of which current assets | 0.0 | 0.0 | 0.0 |
Other investments and non-current other receivables | \u20acm | |||
\u00a0 | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 46.1 | 177.4 | 5.8 | 229.4 |
Additions | 0.0 | 3.3 | 1.7 | 5.0 |
Disposals | 0.0 | \u2013\u00a00.7 | 0.0 | \u2013\u00a00.7 |
Reclassifications | 8.7 | \u2013\u00a01.9 | 0.0 | 6.8 |
Cost as at 31/12 | 54.8 | 178.1 | 7.5 | 240.5 |
Accumulated value adjustments as at 1/1 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Reversals of impairment losses | 0.0 | 4.5 | 0.0 | 4.5 |
Fair value measurement in OCI | 0.0 | 1.0 | 0.0 | 1.0 |
Disposals | 0.0 | 0.8 | 0.0 | 0.8 |
Accumulated value adjustments as at 31/12 | 0.0 | \u2013\u00a03.3 | 0.0 | \u2013\u00a03.3 |
Net carrying amount as at 31/12 | 54.8 | 174.8 | 7.5 | 237.2 |
Net carrying amount as at 1/1 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 218.2 |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 198.0 |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 455.4 |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 417.8 |
Other investments and non-current other receivables\u00a0 | \u20acm | ||||
\u00a0 | Loans to affiliated companies \u2013 not included in the basis of consolidation | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |
Cost as at 1/1 | 2.7 | 59.1 | 181.2 | 5.7 | 248.8 |
Additions from business acquisitions | \u2013\u00a02.7 | 0.0 | 0.0 | 0.0 | \u2013\u00a02.7 |
Additions | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 |
Reclassifications | 0.0 | \u2013\u00a013.0 | \u2013\u00a03.8 | 0.0 | \u2013\u00a016.8 |
Cost as at 31/12 | 0.0 | 46.1 | 177.4 | 5.8 | 229.4 |
Accumulated value adjustments as at 1/1 | 0.0 | 0.0 | \u2013\u00a020.3 | 0.0 | \u2013\u00a020.3 |
Reversals of impairment losses | 0.0 | 0.0 | 10.7 | 0.0 | 10.7 |
Accumulated value adjustments as at 31/12 | 0.0 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Net carrying amount as at 31/12 | 0.0 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount as at 1/1 | 2.7 | 59.1 | 160.9 | 5.7 | 228.5 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 198.0 | |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 309.7 | |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 417.8 | |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 538.1 | |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Other receivables and assets | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Securities | \u2013 | \u2013 | 4.4 | 2.5 |
Guarantees in electricity trading | 132.9 | 132.0 | 108.9 | 77.2 |
Emission rights | \u2013 | \u2013 | 45.4 | 48.9 |
Receivables from tax clearing | \u2013 | \u2013 | 67.7 | 25.2 |
Other | 65.2 | 86.2 | 56.0 | 113.8 |
Other receivables and assets | 198.1 | 218.2 | 282.3 | 267.7 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Additions | 96.4 | 170.0 | 114.5 | 4.8 | 39.4 | 6.8 | 752.5 | 1,184.5 |
Disposals | \u2013\u00a02.0 | \u2013\u00a010.3 | \u2013\u00a08.6 | \u2013\u00a00.4 | \u2013\u00a08.6 | \u2013\u00a00.7 | \u2013\u00a01.7 | \u2013\u00a032.2 |
Reclassifications | 197.5 | 117.2 | 192.3 | 11.5 | 5.1 | 0.1 | \u2013\u00a0528.5 | \u2013\u00a04.8 |
Cost as at 31/12 | 8,889.6 | 5,857.6 | 5,250.6 | 1,704.6 | 333.7 | 778.1 | 2,220.7 | 25,034.7 |
Accumulated depreciation as at 1/1 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Additions | 0.0 | 23.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 23.4 |
Depreciation | 122.6 | 165.0 | 165.4 | 35.4 | 28.6 | 20.0 | 0.0 | 537.0 |
Impairment losses | 40.6 | 78.0 | 37.4 | 2.2 | 2.5 | 97.4 | 8.7 | 266.9 |
Reversals of impairment losses | \u2013\u00a05.7 | \u2013\u00a013.2 | \u2013\u00a09.3 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a028.3 |
Disposals | \u2013\u00a00.6 | \u2013\u00a07.8 | \u2013\u00a07.0 | 0.0 | \u2013\u00a08.2 | \u2013\u00a00.7 | 0.0 | \u2013\u00a024.2 |
Reclassifications | 10.8 | \u2013\u00a02.0 | 1.7 | 0.0 | 0.1 | 0.0 | \u2013\u00a09.6 | 0.9 |
Accumulated depreciation as at 31/12 | 3,895.8 | 3,274.8 | 3,056.1 | 949.8 | 219.9 | 553.7 | 14.9 | 11,964.9 |
Net carrying amount as at 31/12 | 4,993.9 | 2,582.8 | 2,194.5 | 754.9 | 113.8 | 224.4 | 2,205.8 | 13,069.9 |
Net carrying amount as at 1/1 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Property, plant and equipment | \u20acm | |||||||
\u00a0 | Land and buildings | Machin- ery | Electrical instal- lations | Power lines | Office and plant equip- ment | Gas pipelines | Plants under con-struction and projects | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 8,480.5 | 5,123.2 | 4,625.7 | 1,672.4 | 276.6 | 767.9 | 1,547.8 | 22,494.0 |
Foreign exchange differences | \u2013\u00a00.2 | \u2013\u00a01.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a01.7 |
Change in the scope of consolidation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 51.5 | 51.5 |
Additions from business acquisitions | 1.8 | 0.0 | 1.0 | 0.0 | 0.3 | 0.0 | 0.0 | 3.0 |
Additions | 50.3 | 465.0 | 111.0 | 12.8 | 35.7 | 4.2 | 771.5 | 1,450.5 |
Disposals | \u2013\u00a02.1 | \u2013\u00a0258.2 | \u2013\u00a062.5 | \u2013\u00a01.7 | \u2013\u00a015.1 | \u2013\u00a00.5 | \u2013\u00a00.4 | \u2013\u00a0340.6 |
Reclassifications | 67.3 | 252.1 | 277.0 | 5.1 | 0.4 | 0.4 | \u2013\u00a0372.1 | 230.4 |
Cost as at 31/12 | 8,597.7 | 5,580.6 | 4,952.3 | 1,688.6 | 297.8 | 771.9 | 1,998.4 | 23,887.2 |
Accumulated depreciation as at 1/1 | 3,596.6 | 2,818.4 | 2,752.7 | 876.9 | 187.9 | 373.2 | 11.9 | 10,617.5 |
Foreign exchange differences | 0.0 | \u2013\u00a00.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a00.8 |
Additions from business acquisitions | 0.3 | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.6 |
Depreciation | 123.2 | 139.0 | 157.2 | \u2013\u00a04.3 | 23.2 | 64.4 | 0.0 | 502.9 |
Impairment losses | 20.5 | 101.9 | 34.6 | 40.3 | 0.5 | 0.0 | 0.6 | 198.3 |
Reversals of impairment losses | \u2013\u00a011.6 | 0.0 | \u2013\u00a019.4 | 0.0 | 0.0 | 0.0 | 0.0 | \u2013\u00a031.0 |
Disposals | \u2013\u00a01.7 | \u2013\u00a0257.3 | \u2013\u00a057.5 | \u2013\u00a00.7 | \u2013\u00a014.8 | \u2013\u00a00.6 | \u2013\u00a00.3 | \u2013\u00a0333.0 |
Reclassifications | 0.8 | 230.1 | 0.2 | 0.0 | 0.0 | 0.0 | 3.7 | 234.7 |
Accumulated depreciation as at 31/12 | 3,728.1 | 3,031.4 | 2,867.9 | 912.2 | 196.9 | 437.0 | 15.8 | 11,189.2 |
Net carrying amount as at 31/12 | 4,869.5 | 2,549.3 | 2,084.4 | 776.5 | 100.9 | 334.9 | 1,982.5 | 12,697.9 |
Net carrying amount as at 1/1 | 4,883.9 | 2,304.8 | 1,873.1 | 795.5 | 88.7 | 394.6 | 1,535.9 | 11,876.5 |
Additions1 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Kaprun \u2013 Limberg III power plant | 136.5 | 168.7 |
Replacement and general overhaul of substations | 63.6 | 83.5 |
Upper Austrian grid area/Weinviertel | 36.2 | 76.4 |
Wind parks acquired in Germany | 0.0 | 71.1 |
380 kV Salzburg line | 159.4 | 68.3 |
Automation of hydropower plants | 18.4 | 47.0 |
Wind farm projects in Spain | 23.3 | 29.0 |
Wind parks acquired in Austria | 0.0 | 28.8 |
Photovoltaic projects under construction in Spain | 12.6 | 25.1 |
Photovoltaic projects under construction in Italy | 0.0 | 23.4 |
Rei\u00dfeck pumping station | 32.6 | 18.9 |
Expansion of 380kV plants | 15.6 | 16.5 |
Photovoltaic installations in Austria | 12.4 | 15.4 |
Mayrhofen power plant | 16.3 | 15.2 |
Stegenwald power plant | 13.7 | 14.4 |
Various construction projects | 17.2 | 14.3 |
Restructuring the 110 kV Rei\u00dfeck/Malta grid | 3.3 | 13.7 |
Wallsee-Mitterkirchen power plant | 7.1 | 13.3 |
Ottensheim power plant | 9.2 | 11.9 |
Battery storage projects | 6.3 | 11.9 |
Laufnitzdorf power plant | 0.0 | 10.9 |
Gratkorn power plant | 12.4 | 9.2 |
Reschenpass line | 29.2 | 2.4 |
Acquisition of Spain wind portfolio | 452.3 | 0.0 |
Other additions (< \u20ac10.0m each) | 372.9 | 371.8 |
Total additions to property, plant and equipment | 1,450.5 | 1,161.1 |
Useful life | In years |
Residential, office, plant and other plant facilities | 10 \u2013\u00a050 |
Hydraulic structures | 20 \u2013\u00a0100 |
Gas pipelines | 30 |
Machinery | 10 \u2013\u00a080 |
Electrical installations | 3 \u2013\u00a050 |
Power lines | 50 |
Operating and office equipment | 4 \u2013\u00a010 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 976.2 | 1,034.3 | 2,010.5 |
Additions | 63.4 | 0.0 | 63.4 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Reclassifications | 18.8 | 0.0 | 18.8 |
Cost as at 31/12 | 1,055.7 | 1,034.3 | 2,090.0 |
Accumulated amortisation as at 1/1 | 610.5 | 399.8 | 1,010.3 |
Depreciation | 25.1 | 0.0 | 25.1 |
Impairment losses | 24.7 | 0.0 | 24.7 |
Reversals of impairment losses | \u2013\u00a086.1 | 0.0 | \u2013\u00a086.1 |
Disposals | \u2013\u00a02.4 | 0.0 | \u2013\u00a02.4 |
Reclassifications | 13.2 | 0.0 | 13.2 |
Accumulated amortisation as at 31/12 | 585.0 | 399.8 | 984.8 |
Net carrying amount as at 31/12 | 470.7 | 634.5 | 1,105.2 |
Net carrying amount as at 1/1 | 365.7 | 634.5 | 1,000.2 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 922.5 | 1,027.9 | 1,950.4 |
Change in the scope of consolidation | \u2013\u00a039.9 | 0.0 | \u2013\u00a039.9 |
Additions from business acquisitions | 1.8 | 6.4 | 8.2 |
Additions | 92.3 | 0.0 | 92.3 |
Disposals | \u2013\u00a04.7 | 0.0 | \u2013\u00a04.7 |
Reclassifications | 4.3 | 0.0 | 4.3 |
Cost as at 31/12 | 976.2 | 1,034.3 | 2,010.5 |
Accumulated amortisation as at 1/1 | 384.2 | 321.4 | 705.6 |
Additions from business acquisitions | 0.1 | 0.0 | 0.1 |
Depreciation | 21.4 | 0.0 | 21.4 |
Impairment losses | 207.5 | 78.4 | 285.9 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Accumulated amortisation as at 31/12 | 610.5 | 399.8 | 1,010.3 |
Net carrying amount as at 31/12 | 365.7 | 634.5 | 1,000.2 |
Net carrying amount as at 1/1 | 538.2 | 706.5 | 1,244.8 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 976.2 | 1,034.3 | 2,010.5 |
Additions | 63.4 | 0.0 | 63.4 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Reclassifications | 18.8 | 0.0 | 18.8 |
Cost as at 31/12 | 1,055.7 | 1,034.3 | 2,090.0 |
Accumulated amortisation as at 1/1 | 610.5 | 399.8 | 1,010.3 |
Depreciation | 25.1 | 0.0 | 25.1 |
Impairment losses | 24.7 | 0.0 | 24.7 |
Reversals of impairment losses | \u2013\u00a086.1 | 0.0 | \u2013\u00a086.1 |
Disposals | \u2013\u00a02.4 | 0.0 | \u2013\u00a02.4 |
Reclassifications | 13.2 | 0.0 | 13.2 |
Accumulated amortisation as at 31/12 | 585.0 | 399.8 | 984.8 |
Net carrying amount as at 31/12 | 470.7 | 634.5 | 1,105.2 |
Net carrying amount as at 1/1 | 365.7 | 634.5 | 1,000.2 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 922.5 | 1,027.9 | 1,950.4 |
Change in the scope of consolidation | \u2013\u00a039.9 | 0.0 | \u2013\u00a039.9 |
Additions from business acquisitions | 1.8 | 6.4 | 8.2 |
Additions | 92.3 | 0.0 | 92.3 |
Disposals | \u2013\u00a04.7 | 0.0 | \u2013\u00a04.7 |
Reclassifications | 4.3 | 0.0 | 4.3 |
Cost as at 31/12 | 976.2 | 1,034.3 | 2,010.5 |
Accumulated amortisation as at 1/1 | 384.2 | 321.4 | 705.6 |
Additions from business acquisitions | 0.1 | 0.0 | 0.1 |
Depreciation | 21.4 | 0.0 | 21.4 |
Impairment losses | 207.5 | 78.4 | 285.9 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Accumulated amortisation as at 31/12 | 610.5 | 399.8 | 1,010.3 |
Net carrying amount as at 31/12 | 365.7 | 634.5 | 1,000.2 |
Net carrying amount as at 1/1 | 538.2 | 706.5 | 1,244.8 |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for SMATRICS GmbH & Co KG as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 11.75% | \u00b1 0.25 PP | \u20ac\u20134.2m \u20ac+\u00a04.4m |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for Solarpower as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u20131.8m \u20ac+2.0m |
Sensitivity analysis for Solarpower as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac\u20131.3m \u20ac+1.4m |
Investments and non-current other receivables | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Investments \u2013 closed items on the balance sheet | 401.4 | 347.6 |
Other investments and other receivables | 417.8 | 455.4 |
Total | 819.1 | 803.0 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 71.9 | 329.5 | 401.4 |
Foreign exchange differences | 4.4 | 19.0 | 23.5 |
Additions | 2.8 | 8.7 | 11.5 |
Capitalised interest | 0.0 | 12.3 | 12.3 |
Disposals | \u2013\u00a01.2 | \u2013\u00a05.1 | \u2013\u00a06.4 |
Amortised acquisition cost as at 31/12 | 77.9 | 364.4 | 442.3 |
of which non-current assets | 77.9 | 269.7 | 347.6 |
of which current assets | 0.0 | 94.7 | 94.7 |
Investments \u2013 cross-border leasing and closed items on the balance sheet | \u20acm | ||
\u00a0 | Securities (loan stock rights) under closed items on the balance sheet | Other loans under closed items on the balance sheet | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Amortised cost as at 1/1 | 73.2 | 334.1 | 407.3 |
Foreign exchange differences | \u2013\u00a02.7 | \u2013\u00a013.8 | \u2013\u00a016.5 |
Additions | 2.7 | 3.8 | 6.5 |
Capitalised interest | 0.0 | 11.5 | 11.6 |
Disposals | \u2013\u00a01.3 | \u2013\u00a06.1 | \u2013\u00a07.4 |
Amortised acquisition cost as at 31/12 | 71.9 | 329.5 | 401.4 |
of which non-current assets | 71.9 | 329.5 | 401.4 |
of which current assets | 0.0 | 0.0 | 0.0 |
Other investments and non-current other receivables | \u20acm | |||
\u00a0 | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 46.1 | 177.4 | 5.8 | 229.4 |
Additions | 0.0 | 3.3 | 1.7 | 5.0 |
Disposals | 0.0 | \u2013\u00a00.7 | 0.0 | \u2013\u00a00.7 |
Reclassifications | 8.7 | \u2013\u00a01.9 | 0.0 | 6.8 |
Cost as at 31/12 | 54.8 | 178.1 | 7.5 | 240.5 |
Accumulated value adjustments as at 1/1 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Reversals of impairment losses | 0.0 | 4.5 | 0.0 | 4.5 |
Fair value measurement in OCI | 0.0 | 1.0 | 0.0 | 1.0 |
Disposals | 0.0 | 0.8 | 0.0 | 0.8 |
Accumulated value adjustments as at 31/12 | 0.0 | \u2013\u00a03.3 | 0.0 | \u2013\u00a03.3 |
Net carrying amount as at 31/12 | 54.8 | 174.8 | 7.5 | 237.2 |
Net carrying amount as at 1/1 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 218.2 |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 198.0 |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 455.4 |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 417.8 |
Other investments and non-current other receivables\u00a0 | \u20acm | ||||
\u00a0 | Loans to affiliated companies \u2013 not included in the basis of consolidation | Loans to investees | Securities (loan stock rights) | Other loans | Total |
2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | |
Cost as at 1/1 | 2.7 | 59.1 | 181.2 | 5.7 | 248.8 |
Additions from business acquisitions | \u2013\u00a02.7 | 0.0 | 0.0 | 0.0 | \u2013\u00a02.7 |
Additions | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 |
Reclassifications | 0.0 | \u2013\u00a013.0 | \u2013\u00a03.8 | 0.0 | \u2013\u00a016.8 |
Cost as at 31/12 | 0.0 | 46.1 | 177.4 | 5.8 | 229.4 |
Accumulated value adjustments as at 1/1 | 0.0 | 0.0 | \u2013\u00a020.3 | 0.0 | \u2013\u00a020.3 |
Reversals of impairment losses | 0.0 | 0.0 | 10.7 | 0.0 | 10.7 |
Accumulated value adjustments as at 31/12 | 0.0 | 0.0 | \u2013\u00a09.6 | 0.0 | \u2013\u00a09.6 |
Net carrying amount as at 31/12 | 0.0 | 46.1 | 167.8 | 5.9 | 219.8 |
Net carrying amount as at 1/1 | 2.7 | 59.1 | 160.9 | 5.7 | 228.5 |
Net carrying amount of other non-current receivables as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 198.0 | |
Net carrying amount of other non-current receivables as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 309.7 | |
Net carrying amount total as at 31/12 | \u00a0 | \u00a0 | \u00a0 | 417.8 | |
Net carrying amount total as at 1/1 | \u00a0 | \u00a0 | \u00a0 | 538.1 | |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Other receivables and assets | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Securities | \u2013 | \u2013 | 4.4 | 2.5 |
Guarantees in electricity trading | 132.9 | 132.0 | 108.9 | 77.2 |
Emission rights | \u2013 | \u2013 | 45.4 | 48.9 |
Receivables from tax clearing | \u2013 | \u2013 | 67.7 | 25.2 |
Other | 65.2 | 86.2 | 56.0 | 113.8 |
Other receivables and assets | 198.1 | 218.2 | 282.3 | 267.7 |
Useful life | In years |
Residential, office, plant and other plant facilities | 10 \u2013\u00a050 |
Hydraulic structures | 20 \u2013\u00a0100 |
Gas pipelines | 30 |
Machinery | 10 \u2013\u00a080 |
Electrical installations | 3 \u2013\u00a050 |
Power lines | 50 |
Operating and office equipment | 4 \u2013\u00a010 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 976.2 | 1,034.3 | 2,010.5 |
Additions | 63.4 | 0.0 | 63.4 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Reclassifications | 18.8 | 0.0 | 18.8 |
Cost as at 31/12 | 1,055.7 | 1,034.3 | 2,090.0 |
Accumulated amortisation as at 1/1 | 610.5 | 399.8 | 1,010.3 |
Depreciation | 25.1 | 0.0 | 25.1 |
Impairment losses | 24.7 | 0.0 | 24.7 |
Reversals of impairment losses | \u2013\u00a086.1 | 0.0 | \u2013\u00a086.1 |
Disposals | \u2013\u00a02.4 | 0.0 | \u2013\u00a02.4 |
Reclassifications | 13.2 | 0.0 | 13.2 |
Accumulated amortisation as at 31/12 | 585.0 | 399.8 | 984.8 |
Net carrying amount as at 31/12 | 470.7 | 634.5 | 1,105.2 |
Net carrying amount as at 1/1 | 365.7 | 634.5 | 1,000.2 |
Intangible assets | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Concessions, rights, licences | Goodwill | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
Cost as at 1/1 | 922.5 | 1,027.9 | 1,950.4 |
Change in the scope of consolidation | \u2013\u00a039.9 | 0.0 | \u2013\u00a039.9 |
Additions from business acquisitions | 1.8 | 6.4 | 8.2 |
Additions | 92.3 | 0.0 | 92.3 |
Disposals | \u2013\u00a04.7 | 0.0 | \u2013\u00a04.7 |
Reclassifications | 4.3 | 0.0 | 4.3 |
Cost as at 31/12 | 976.2 | 1,034.3 | 2,010.5 |
Accumulated amortisation as at 1/1 | 384.2 | 321.4 | 705.6 |
Additions from business acquisitions | 0.1 | 0.0 | 0.1 |
Depreciation | 21.4 | 0.0 | 21.4 |
Impairment losses | 207.5 | 78.4 | 285.9 |
Disposals | \u2013\u00a02.7 | 0.0 | \u2013\u00a02.7 |
Accumulated amortisation as at 31/12 | 610.5 | 399.8 | 1,010.3 |
Net carrying amount as at 31/12 | 365.7 | 634.5 | 1,000.2 |
Net carrying amount as at 1/1 | 538.2 | 706.5 | 1,244.8 |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for SMATRICS GmbH & Co KG as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 11.75% | \u00b1 0.25 PP | \u20ac\u20134.2m \u20ac+\u00a04.4m |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Sensitivity analysis for Solarpower as at 31/12/2024 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption1 | Effects on the recoverable amount |
After-tax discount rate | 5.50% | \u00b1 0.25 PP | \u20ac\u20131.8m \u20ac+2.0m |
Sensitivity analysis for Solarpower as at 31/12/2023 | |||
\u00a0 | Value assigned to the key valuation assumption | Change in key valuation assumption | Effects on the recoverable amount |
After-tax discount rate | 6.25% | \u00b1 0.25 PP | \u20ac\u20131.3m \u20ac+1.4m |
Building cost contributions and government grants | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Contributions to building costs | 743.2 | 766.4 |
Government grants | 45.8 | 46.0 |
Building cost contributions and government grants | 788.9 | 812.4 |
Trade payables and current other liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Trade payables | 327.4 | 370.8 |
Outstanding invoices for capital expenditure | 217.7 | 224.0 |
Liabilities to unconsolidated subsidiaries and investees | 48.9 | 100.1 |
Other liabilities for maintenance expenses | 58.3 | 69.4 |
Other liabilities from electricity deliveries and grid services | 201.0 | 67.9 |
Other personnel-related liabilities | 49.9 | 58.2 |
Liabilities to the emissions registry | 22.2 | 38.6 |
Security deposits for transport services | 38.8 | 33.1 |
Liabilities to tax authorities | 67.1 | 27.2 |
Electricity supply commitment | 15.4 | 16.7 |
Accruals and deferred income | 11.1 | 14.1 |
Lease liabilities | 12.6 | 10.9 |
Advance payments received | 7.8 | 5.4 |
Windfall tax liabilities | 75.5 | 0.0 |
Liabilities from equity interest transactions | 55.4 | 0.0 |
Other | 66.2 | 47.7 |
Trade payables and current other liabilities | 1,275.4 | 1,084.4 |
Other non-current liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Other liabilities from electricity deliveries and grid services | 212.6 | 313.4 |
Obligation to return an interest | 122.5 | 184.7 |
Lease liabilities | 147.8 | 168.1 |
Advance payments received for grid access fees (electricity) | 62.2 | 98.9 |
Electricity supply commitment | 97.9 | 81.2 |
Liabilities for grid usage fees (gas) | 43.4 | 36.8 |
Liabilities from outstanding capital expenditure invoices | 32.7 | 22.0 |
Trade payables | 2.3 | 9.9 |
Security deposits for transport services | 12.7 | 6.6 |
Other | 38.7 | 30.7 |
Other non-current liabilities | 772.8 | 952.4 |
Building cost contributions and government grants | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Contributions to building costs | 743.2 | 766.4 |
Government grants | 45.8 | 46.0 |
Building cost contributions and government grants | 788.9 | 812.4 |
Other non-current liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Other liabilities from electricity deliveries and grid services | 212.6 | 313.4 |
Obligation to return an interest | 122.5 | 184.7 |
Lease liabilities | 147.8 | 168.1 |
Advance payments received for grid access fees (electricity) | 62.2 | 98.9 |
Electricity supply commitment | 97.9 | 81.2 |
Liabilities for grid usage fees (gas) | 43.4 | 36.8 |
Liabilities from outstanding capital expenditure invoices | 32.7 | 22.0 |
Trade payables | 2.3 | 9.9 |
Security deposits for transport services | 12.7 | 6.6 |
Other | 38.7 | 30.7 |
Other non-current liabilities | 772.8 | 952.4 |
Building cost contributions and government grants | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Contributions to building costs | 743.2 | 766.4 |
Government grants | 45.8 | 46.0 |
Building cost contributions and government grants | 788.9 | 812.4 |
Right-of-use assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Land and buildings | Electrical installations | Power lines | Operating and office equipment | Total |
Balance at 1/1/2024 | 129.9 | 13.1 | 21.1 | 5.7 | 169.7 |
Additions | 33.0 | 0.3 | 7.4 | 4.5 | 45.2 |
Depreciation | \u2013\u00a012.2 | \u2013\u00a00.7 | 0.0 | \u2013\u00a02.7 | \u2013\u00a015.7 |
Disposals | \u2013\u00a00.2 | \u2013\u00a04.2 | 0.0 | \u2013\u00a00.2 | \u2013\u00a04.6 |
Balance at 31/12/2024 | 150.5 | 8.4 | 28.5 | 7.3 | 194.6 |
Right-of-use assets | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Land and buildings | Electrical installations | Power lines | Operating and office equipment | Total |
Balance at 1/1/2023 | 113.1 | 9.2 | 20.0 | 4.4 | 146.6 |
Additions | 35.8 | 4.7 | 1.1 | 3.6 | 45.2 |
Depreciation | \u2013\u00a09.9 | \u2013\u00a00.8 | 0.0 | \u2013\u00a02.1 | \u2013\u00a012.8 |
Disposals | \u2013\u00a09.1 | 0.0 | 0.0 | \u2013\u00a00.2 | \u2013\u00a09.3 |
Balance at 31/12/2023 | 129.9 | 13.1 | 21.1 | 5.7 | 169.7 |
Amounts from leases recognised in profit or loss | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Expenses from unwinding the discount on the lease liability | 3.0 | 4.2 |
Variable lease payments that were not recognised in the lease liability | 0.9 | 2.5 |
Expenses from short-term leases1 | 95.2 | 67.8 |
Expenses from underlying assets of low value | 0.0 | 0.2 |
Expected cash outflows as at 31/12/2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2025 | 2026 | 2027\u2013\u00a02029 | From 2030 |
Cash outflows on lease liabilities in accordance with IFRS\u00a07 | 18.2 | 18.2 | 46.8 | 208.8 |
Expected cash outflows as at 31/12/2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
Maturity | 2024 | 2025 | 2026\u2013\u00a02028 | from 2029 |
Cash outflows on lease liabilities in accordance with IFRS\u00a07 | 15.7 | 15.0 | 37.0 | 167.5 |
Goodwill | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Hydro segment | 287.0 | 287.0 |
Sales segment | 13.0 | 13.0 |
Inn River power plant group | 126.6 | 126.6 |
Grenzkraftwerke power plant group | 161.1 | 161.1 |
SMATRICS GmbH & Co KG | 40.5 | 40.5 |
Solarpower | 6.4 | 6.4 |
Goodwill | 634.6 | 634.6 |
Impairment testing of goodwill for the Hydro segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items | All hydraulic generation plants of VERBUND plus goodwill and deferred tax items |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND budgets (based primarily on market data) |
Volume | Average expected generation of the respective power plants | Average expected generation of the respective power plants |
Pricing | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) | Internal price forecasts and power plant-specific premiums or discounts (for example, the sale of guarantees of origin) |
Planning period | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 31\u00a0years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant | Detailed planning phase: up to a maximum of 6 years depending on the specific power plant; rough planning phase: up to a maximum of 30 years depending on the specific power plant; subsequent terminal value phase following rough planning phase depending on the specific power plant |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75%\u201311.25% depending on the location | WACC: 5,00%\u2013\u00a09.50% depending on the location |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Sales segment | \u00a0 | |
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | All of VERBUND\u2019s sales activities plus goodwill | All of VERBUND\u2019s sales activities plus goodwill |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Sum-of-the-parts measurement based on a net present value approach (DCF method) | Sum-of-the-parts measurement based on a net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Expected trading and distribution volumes | Expected trading and distribution volumes |
Pricing | Expected trading and sales margins | Expected trading and distribution volumes |
Planning period | Detailed planning phase of 6 years followed by a terminal value phase | Detailed planning phase of 6 years followed by a terminal value phase |
Key valuation assumptions | Expected trading and distribution volumes as well as trading and sales margins | Expected trading and distribution volumes as well as trading and sales margins |
After-tax discount rate1 | WACC after taxes: 5.75%\u201312.50% | WACC after taxes: 5.00%\u2013\u00a011,75% |
Impairment loss during the period2 | \u2013 | \u2013 |
Impairment testing of goodwill for the Inn River run-of-river power plant group | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Inn River power plant group1, each of which also represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) | VERBUND Innkraftwerke GmbH budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh | Annual output corresponding to the mean energy capability of 1,983\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% | WACC: 5.00% |
Impairment loss during the period3 | \u2013 | \u2013 |
Impairment testing of goodwill for the Grenzkraftwerke run-of-river power plant group1\u00a0 | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals | Run-of-river power plants of the Grenzkraftwerke power plant group2, each of which represents a cash-generating unit, plus goodwill and deferred tax accruals |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) | Grenzkraftwerke GmbH\u2019s budgets (based primarily on market data) |
Volume | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh | Annual output corresponding to the mean energy capability of 3,957\u00a0GWh |
Pricing | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible | Internal price forecasts; discounts for generation characteristics and hydrological forecast and availability risk; premium for additional proceeds from the sale of guarantees of origin (derived from quoted price); consideration of water charges based on official notices; estimate of maintenance costs by the managers responsible |
Planning period | Detailed planning phase: 6 years; rough planning phase: 31 years followed by a terminal value phase | Detailed planning phase: 6 years; rough planning phase: 30 years followed by a terminal value phase |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate3 | WACC: 6.25% | WACC: 5.25% |
Impairment loss during the period4 | \u2013 | \u2013 |
Impairment testing of goodwill for SMATRICS GmbH & Co KG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions | SMATRICS GmbH & Co KG, full service provider for electromobility charging solutions |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | SMATRICS GmbH & Co KG budgets (based primarily on market data) | SMATRICS GmbH & Co KG budgets (based primarily on market data) |
Volume | Electric vehicle ramp-up | Electric vehicle charging points |
Pricing | EV charging rates | EV charging rates |
Planning period | Detailed planning phase: 7\u00a0years plus subsequent terminal value phase | Detailed planning phase: 11 years plus subsequent terminal value phase |
Key valuation assumptions | Electric vehicle ramp-up, discount rate | Electric vehicle charging points, discount rate |
After-tax discount rate1 | WACC: 12.50% | WACC: 11.75% |
Impairment loss during the period | \u2013 | \u2013 |
Impairment testing of goodwill from Solarpower | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components | Solarpower (VERBUND Engineers4Energy GmbH/Electriply GmbH): construction of photovoltaic systems and distribution of components |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | MWp plant engineering, sales volumes of PV components | MWp plant engineering, sales volumes of PV components |
Pricing | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work | Purchase prices for photovoltaic modules, inverters and mounting structures; purchased installation services; internal forecasts for project costs and own work |
Planning period | Detailed planning phase: 6 years plus subsequent terminal value phase | Detailed planning phase: 6 years plus subsequent terminal value phase |
Key valuation assumptions | Price assumptions (\u20ac/MWp), discount rate | Price assumptions (\u20ac/MWp), discount rate |
After-tax discount rate1 | WACC: 6.25% | WACC: 5.50% |
Impairment loss during the period | \u2013 | \u2013 |
Impairment testing of Gas Connect Austria GmbH, including Austrian Gas Grid Management AG | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | GCA\u2019s transmission system and distribution network, including AGGM | GCA\u2019s transmission system and distribution network, including AGGM |
Indications of impairment | Significant changes in the energy industry and regulatory environment | Significant changes in the energy industry and regulatory environment |
Basis for recoverable amount | Value in use | Value in use |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | GCA budgets (based primarily on market data) | GCA budgets (based primarily on market data) |
Volume | Capacity bookings | Capacity bookings |
Pricing | Tariffs set by the regulator | Tariffs set by the regulator |
Planning period | Detailed planning phase: 6 years; rough planning phase: 21 years plus Regulatory Asset Base (RAB) as exit value | Detailed planning phase: 6 years; rough planning phase: 20 years plus Regulatory Asset Base (RAB) as exit value |
Key valuation assumptions | Regulatory return on the RAB | Regulatory return on the RAB |
After-tax discount rate | Determination of discount rate taking into account regulatory framework conditions | Determination of discount rate taking into account regulatory framework conditions |
Recoverable amount | \u20ac444.4m | \u20ac344.8m |
Change in value during the period1 | \u20ac\u201356.9m | \u20ac\u2013172.4m |
Impairment testing of the Mellach combined cycle gas turbine power plant | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Cash-generating unit | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) | Combined cycle gas turbine power plant (installed electrical capacity: 838\u00a0MW) |
Indications of impairment | Updated electricity or gas price forecasts | Updated electricity or gas price forecasts |
Basis for recoverable amount | Fair value (level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) | VERBUND Thermal Power GmbH & Co KG budgets (based primarily on market data) |
Volume | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) | Optimisation model with primary inputs: installed capacity, heat extraction (maximum 400\u00a0MW) and efficiency at full capacity (58.8%) |
Pricing | Internal and external price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter for one line (Q4/2023 to Q1/2024); estimate of operating, maintenance and downtime costs by the responsible managers | External price forecasts; temporarily expected revenue from the grid reserve, congestion management, redispatch and market use, including heat extraction in the winter until Q1/2027; estimate of operating, maintenance and downtime costs by the responsible managers |
Planning period | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) | Total capacity averaging around 100,000 equivalent operating hours or until 2040 (dependent on earlier start) |
Key valuation assumptions | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, performance of clean spark spreads | Discount rate, expected revenue from the grid reserve, congestion management and redispatch, development of clean spark spreads |
After-tax discount rate | WACC: 6.25% | WACC: 5.50% |
Recoverable amount | \u20ac161.3m | \u20ac90.9m |
Change in value during the period1 | \u20ac\u201363.0m | \u20ac\u201366.1m |
Impairment testing of existing projects in the Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | PV portfolios with a capacity of 82.1\u00a0MWp in operation (Anselma Issuer, S.A.U. and Topacio Energy, S.L.U.) | Wind/photovoltaic portfolios with a capacity of 174.1\u00a0MWp in operation (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Tariffs for the next 14\u201317 years, followed by internal price forecasts | Tariffs for the next 13\u201316 years, followed by internal price forecasts (Anselma Issuer, S.A.U.; Topacio Energy, S.L.U.) or internal price forecasts only (VERBUND Green Power Renewable Projects, S.L.U.) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 13 \u201314 years for the Anselma Issuer, S.A.U. portfolio and 13\u201316 years for the Topacio Energy, S.L.U. portfolio. | Detailed planning phase: 6 years; rough planning phase: 12 \u201313 years for the Anselma Issuer, S.A.U. portfolio, 12\u201315 years for the Topacio Energy, S.L.U. portfolio and 29 years for the VERBUND Green Power Renewable Projects, S.L.U. portfolio. |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac348.8m | \u20ac438.9m |
Change in value during the period3 | \u20ac+29.9 | \u20ac\u2013\u00a07.2m |
Impairment testing of development projects in Spain renewables portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | Wind/photovoltaic portfolios with a capacity of 1,827\u00a0MW under development (Tejo Solar, S.L.U, Catalpa Solar, S.L.U. and VERBUND Green Power Renewable Projects, S.L.U.) | Photovoltaic portfolios with a capacity of 1,576.7 \u00a0MW under development (Tejo Solar, S.L.U.)1 |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts, increase in CapEx and postponement of commissioning | Updated electricity price forecasts, updated discount rate, increase in CapEx and postponement of commissioning |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years (PV), 24\u00a0years (wind) | Detailed planning phase: 6 years; rough planning phase: 29 years (PV) |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate2 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac202.2m | \u20ac222.4m |
Change in value during the period3 | \u20ac\u2013\u00a0204.1m | \u20ac+\u00a064.5m |
Impairment testing of the Spain photovoltaic portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) | 148\u00a0MWp photovoltaic portfolio in Spain (Watt Development 5 S.L.U., Watt Development 6 S.L.U., Watt Development 7 S.L.U.) |
Basis for recoverable amount | Value in use | Value in use |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Pricing | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | Internal price forecast, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 29 years | Detailed planning phase: 6 years; rough planning phase: 28 years |
Key valuation assumptions | Discount rate | Discount rate |
After-tax discount rate1 | WACC: 6.50% | WACC: 5.50% |
Recoverable amount | \u20ac105.6m | \u20ac95.7m |
Change in value during the period | \u20ac\u201125.0m | \u20ac\u2013\u00a08.3m |
Impairment testing of the Spain wind portfolio | ||
\u00a0 | 31/12/2023 | 31/12/2024 |
Group of cash-generating units | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) | 256\u00a0MWp wind portfolio with nine operating wind farms in Spain (Green Power Wind Spain 1, S.L.U., Green Power Wind Marquesado, S.L.U.) |
Basis for recoverable amount | Fair value (Level 3) less costs of disposal | Fair value (Level 3) less costs of disposal |
Indications of impairment | Updated electricity price forecasts | Updated electricity price forecasts and updated discount rate |
Valuation technique | Net present value approach (DCF method) | Net present value approach (DCF method) |
Derivation of cash flow | VERBUND\u2019s budgets (based primarily on market data) | VERBUND\u2019s budgets (based primarily on market data) |
Volume | Electricity generation | Electricity generation |
Price | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) | External price forecast for projects, premium for additional proceeds from the sale of guarantees of origin (derived from quoted prices) |
Planning period | Detailed planning phase: 6 years; rough planning phase: 50 years | Detailed planning phase: 6 years; rough planning phase: 49 years |
Key valuation assumptions | Electricity price, discount rate | Electricity price, discount rate |
After-tax discount rate1 | WACC: 5.75% / 6.50% | WACC: 5.00% / 5.50% |
Recoverable amount | \u20ac438.1m | \u20ac431.2m |
Change in value during the period | \u20ac\u201354.0m | \u20ac+\u00a011.6m |
Interests accounted for using the equity method | \u20acm | |
\u00a0 | 2023 | 2024 |
Amortised cost as at 1/1 | 425.4 | 549.9 |
Additions1 | 5.4 | 17.7 |
Dividends2 | 9.5 | \u2013\u00a015.6 |
Result from equity accounting | 84.9 | 101.3 |
Other comprehensive income from equity accounting | 24.7 | 2.2 |
Change in consolidation method | 0.0 | \u2013\u00a02.7 |
Amortised cost as at 31/12 | 549.9 | 652.6 |
Accumulated value adjustments as at 1/1 | \u2013\u00a059.8 | \u2013\u00a033.1 |
Reversals of impairment losses | 26.6 | 13.5 |
Accumulated value adjustments as at 31/12 | \u2013\u00a033.1 | \u2013\u00a019.7 |
Net carrying amount as at 31/12 | 516.7 | 633.0 |
Net carrying amount as at 1/1 | 365.5 | 516.7 |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Other equity interests | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Interests in unconsolidated subsidiaries | Other equity interests | Total |
2024 | \u00a0 | \u00a0 | \u00a0 |
(Amortised) cost as at 1/1 | 35.6 | 144.1 | 179.7 |
Additions from acquisitions of interests and capital increases | 44.3 | 15.8 | 60.1 |
Disposals | \u2013\u00a026.1 | 0.0 | \u2013\u00a026.1 |
(Amortised) cost as at 31/12 | 53.8 | 159.9 | 213.7 |
Accumulated value adjustments as at 1/1 | \u2013\u00a05.2 | 53.0 | 47.8 |
Fair value measurement in OCI | 1.0 | \u2013\u00a06.3 | \u2013\u00a05.3 |
Reversals of impairment losses | 0.1 | 0.0 | 0.1 |
Disposals | 15.7 | 0.0 | 15.7 |
Accumulated value adjustments as at 31/12 | 11.6 | 46.7 | 58.3 |
Net carrying amount as at 31/12 | 65.4 | 206.6 | 272.0 |
Net carrying amount as at 1/1 | 30.4 | 197.1 | 227.5 |
Other equity interests | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Interests in unconsolidated subsidiaries | Other equity interests | Total |
2023 | \u00a0 | \u00a0 | \u00a0 |
(Amortised) cost as at 1/1 | 17.8 | 143.2 | 161.0 |
Change in the scope of consolidation | \u2013\u00a05.0 | 0.0 | \u2013\u00a05.0 |
Additions from acquisitions of interests and capital increases | 22.8 | 1.5 | 24.3 |
Disposals | 0.0 | \u2013\u00a00.6 | \u2013\u00a00.6 |
(Amortised) cost as at 31/12 | 35.6 | 144.1 | 179.7 |
Accumulated value adjustments as at 1/1 | 11.2 | 20.5 | 31.7 |
Fair value measurement in OCI | \u2013\u00a00.6 | 32.5 | 31.9 |
Impairment losses | \u2013\u00a015.8 | 0.0 | \u2013\u00a015.8 |
Accumulated value adjustments as at 31/12 | \u2013\u00a05.2 | 53.0 | 47.8 |
Net carrying amount as at 31/12 | 30.4 | 197.1 | 227.5 |
Net carrying amount as at 1/1 | 29.0 | 163.7 | 192.7 |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Sales and procurement (cash flow hedges) as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 253.6 | 177.6 | 76.0 |
Forwards | 152.1 | 42.6 | 109.5 |
Total before netting | 405.7 | 220.2 | 185.5 |
of which current | 393.4 | 204.9 | 188.5 |
of which non-current | 12.3 | 15.3 | \u2013\u00a03.0 |
of which in other comprehensive income | \u00a0 | \u00a0 | 185.5 |
Wholesale as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 227.7 | 313.7 | \u2013\u00a086.1 |
Forwards | 454.1 | 424.9 | 29.2 |
Total before netting | 681.8 | 738.7 | \u2013\u00a056.9 |
of which current | 573.4 | 544.1 | 29.4 |
of which non-current | 108.4 | 194.6 | \u2013\u00a086.2 |
Futures already realised | 187.9 | 124.9 | 62.9 |
Total | \u00a0 | \u00a0 | 6.1 |
Trading as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 12.2 | 12.8 | \u2013\u00a00.6 |
Forwards | 115.7 | 116.7 | \u2013\u00a01.0 |
Total before netting | 127.8 | 129.5 | \u2013\u00a01.7 |
of which current | 89.1 | 90.7 | \u2013\u00a01.7 |
of which non-current | 38.8 | 38.8 | 0.0 |
Total as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 493.4 | 504.2 | \u2013\u00a010.8 |
Forwards | 721.9 | 584.2 | 137.7 |
Total before netting | 1,215.3 | 1,088.4 | 127.0 |
Including netting agreements | \u2013\u00a0847.3 | \u2013\u00a0847.3 | 0.0 |
Total after netting | 368.0 | 241.0 | 127.0 |
EEX/ECX clearing variation margins for futures | 10.8 | 0.0 | 10.8 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 378.8 | 241.0 | 137.8 |
of which current | 329.8 | 102.9 | 226.9 |
of which non-current | 49.0 | 138.1 | \u2013\u00a089.1 |
Sales and procurement (cash flow hedges) as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 723.4 | 366.9 | 356.5 |
Forwards | 369.3 | 39.0 | 330.3 |
Total before netting | 1,092.7 | 405.9 | 686.8 |
of which current | 939.7 | 388.3 | 551.5 |
of which non-current | 152.9 | 17.6 | 135.3 |
of which in other comprehensive income | \u00a0 | \u00a0 | 686.8 |
Wholesale as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 671.5 | 999.8 | \u2013\u00a0328.3 |
Forwards | 1,707.6 | 838.8 | 868.8 |
Total before netting | 2,379.2 | 1,838.6 | 540.6 |
of which current | 1,984.7 | 1,604.0 | 380.7 |
of which non-current | 394.5 | 234.6 | 159.9 |
Futures already realised | 840.9 | 1,219.5 | \u2013\u00a0378.6 |
Total | \u00a0 | \u00a0 | 162.0 |
Trading as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 21.9 | 23.0 | \u2013\u00a01.0 |
Forwards | 300.8 | 295.0 | 5.8 |
Total before netting | 322.7 | 318.0 | 4.8 |
of which current | 280.6 | 275.6 | 5.1 |
of which non-current | 42.1 | 42.4 | \u2013\u00a00.3 |
Total as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 1,416.9 | 1,389.7 | 27.2 |
Forwards | 2,377.7 | 1,172.8 | 1,204.9 |
Total before netting | 3,794.5 | 2,562.5 | 1,232.1 |
Including netting agreements | \u2013\u00a02,199.3 | \u2013\u00a02,199.3 | 0.0 |
Total after netting | 1,595.3 | 363.2 | 1,232.1 |
EEX/ECX clearing variation margins for futures | \u2013\u00a031.9 | 0.0 | \u2013\u00a031.9 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 1,563.3 | 363.2 | 1,200.1 |
of which current | 1,207.2 | 302.4 | 904.8 |
of which non-current | 356.2 | 60.9 | 295.3 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Net results by measurement category | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Financial assets measured at amortised cost | \u2013\u00a021.5 | 15.7 |
Financial assets measured at fair value through other comprehensive income | 32.7 | \u2013\u00a04.3 |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | 22.5 | \u2013\u00a014.2 |
Financial liabilities measured at amortised cost | 8.0 | \u2013\u00a059.2 |
Financial assets and liabilities measured at fair value through profit or loss | 36.6 | \u2013\u00a0109.9 |
Total interest income from financial assets measured at amortised cost | 72.0 | 89.4 |
Total interest expenses from financial liabilities measured at amortised cost | \u2013\u00a0120.7 | \u2013\u00a0104.2 |
Components of net gains or losses | \u00a0 |
Measurement category | Remark |
Financial assets and liabilities measured at fair value through profit or loss | The net gains or losses arose from the measurement of derivative financial instruments in the energy area (wholesale and trading) in the operating result, as well as from the measurement of (other) derivative and non-derivative financial instruments in the finance area in the other financial result |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | The net gains or losses arose from the measurement of financial liabilities to banks (closed items on the balance sheet). These gains and losses are offset by net gains and losses from financial assets and liabilities measured at fair value through profit or loss and net gains and losses from financial assets and liabilities measured at cost in the corresponding amounts. |
Financial assets and liabilities measured at amortised cost | The net gains and losses relate primarily to financial instruments associated with closed items on the balance sheet in the other financial result as well as to valuation allowances on trade receivables in the operating result. |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Financial instruments subject to credit risk by assigned rating group\u00a0 | \u00a0 | \u20acm | |
\u00a0 | \u00a0 | 2023 | 2024 |
Credit rating group | Equiva- lent Moody\u2019s-rating | Derivatives in the energy area | Derivatives in the energy area |
A | up to Aa3 | 109.9 | 0.1 |
B | up to A3 | 286.3 | 123.1 |
C1\u2013C3 | up to Baa3 | 1,147.9 | 247.7 |
D1\u2013D5 | below Baa3 | 19.2 | 8.0 |
Total | \u00a0 | 1,563.3 | 378.8 |
Sales and procurement (cash flow hedges) as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 253.6 | 177.6 | 76.0 |
Forwards | 152.1 | 42.6 | 109.5 |
Total before netting | 405.7 | 220.2 | 185.5 |
of which current | 393.4 | 204.9 | 188.5 |
of which non-current | 12.3 | 15.3 | \u2013\u00a03.0 |
of which in other comprehensive income | \u00a0 | \u00a0 | 185.5 |
Wholesale as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 227.7 | 313.7 | \u2013\u00a086.1 |
Forwards | 454.1 | 424.9 | 29.2 |
Total before netting | 681.8 | 738.7 | \u2013\u00a056.9 |
of which current | 573.4 | 544.1 | 29.4 |
of which non-current | 108.4 | 194.6 | \u2013\u00a086.2 |
Futures already realised | 187.9 | 124.9 | 62.9 |
Total | \u00a0 | \u00a0 | 6.1 |
Trading as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 12.2 | 12.8 | \u2013\u00a00.6 |
Forwards | 115.7 | 116.7 | \u2013\u00a01.0 |
Total before netting | 127.8 | 129.5 | \u2013\u00a01.7 |
of which current | 89.1 | 90.7 | \u2013\u00a01.7 |
of which non-current | 38.8 | 38.8 | 0.0 |
Total as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 493.4 | 504.2 | \u2013\u00a010.8 |
Forwards | 721.9 | 584.2 | 137.7 |
Total before netting | 1,215.3 | 1,088.4 | 127.0 |
Including netting agreements | \u2013\u00a0847.3 | \u2013\u00a0847.3 | 0.0 |
Total after netting | 368.0 | 241.0 | 127.0 |
EEX/ECX clearing variation margins for futures | 10.8 | 0.0 | 10.8 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 378.8 | 241.0 | 137.8 |
of which current | 329.8 | 102.9 | 226.9 |
of which non-current | 49.0 | 138.1 | \u2013\u00a089.1 |
Sales and procurement (cash flow hedges) as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 723.4 | 366.9 | 356.5 |
Forwards | 369.3 | 39.0 | 330.3 |
Total before netting | 1,092.7 | 405.9 | 686.8 |
of which current | 939.7 | 388.3 | 551.5 |
of which non-current | 152.9 | 17.6 | 135.3 |
of which in other comprehensive income | \u00a0 | \u00a0 | 686.8 |
Wholesale as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 671.5 | 999.8 | \u2013\u00a0328.3 |
Forwards | 1,707.6 | 838.8 | 868.8 |
Total before netting | 2,379.2 | 1,838.6 | 540.6 |
of which current | 1,984.7 | 1,604.0 | 380.7 |
of which non-current | 394.5 | 234.6 | 159.9 |
Futures already realised | 840.9 | 1,219.5 | \u2013\u00a0378.6 |
Total | \u00a0 | \u00a0 | 162.0 |
Trading as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 21.9 | 23.0 | \u2013\u00a01.0 |
Forwards | 300.8 | 295.0 | 5.8 |
Total before netting | 322.7 | 318.0 | 4.8 |
of which current | 280.6 | 275.6 | 5.1 |
of which non-current | 42.1 | 42.4 | \u2013\u00a00.3 |
Total as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 1,416.9 | 1,389.7 | 27.2 |
Forwards | 2,377.7 | 1,172.8 | 1,204.9 |
Total before netting | 3,794.5 | 2,562.5 | 1,232.1 |
Including netting agreements | \u2013\u00a02,199.3 | \u2013\u00a02,199.3 | 0.0 |
Total after netting | 1,595.3 | 363.2 | 1,232.1 |
EEX/ECX clearing variation margins for futures | \u2013\u00a031.9 | 0.0 | \u2013\u00a031.9 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 1,563.3 | 363.2 | 1,200.1 |
of which current | 1,207.2 | 302.4 | 904.8 |
of which non-current | 356.2 | 60.9 | 295.3 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Valuation techniques and input factors for determining fair values | \u00a0 | ||
Level | Financial Instruments | Valuation technique | Input factor |
1 | Energy forwards | Market approach | Settlement price published by the stock exchange |
1 | Securities, other equity interest in Burgenland Holding AG | Market approach | Stock exchange price |
2 | Securities and other loans under closed items on the balance sheet, non-current loans, liabilities to banks, bonds and other financial liabilities | Net present value approach | Payments associated with the financial instruments, yield curve, credit risk of the contracting parties (credit default swaps or credit spread curves) |
2 | Interests in unconsolidated subsidiaries, other equity interest in Energie AG Ober\u00f6sterreich, among others | Market approach | Trading multiple, transaction price |
2 | Non-listed energy forwards | Net present value approach | Forward price curve derived from stock exchange, yield curve, credit risk of the contracting parties |
2 | Other assets and liabilities measured at fair value in the finance area | Net present value approach | Cash flows already fixed or determined via forward rates, yield curve, credit risk of the contracting parties |
3 | Return obligation (obligation to transfer back the 50% interest acquired in Donaukraftwerk Jochenstein AG) | Net present value approach | Price forecasts for electricity, weighted average cost of capital after taxes |
3 | Securities (shares of Wiener B\u00f6rse AG) | Net present value approach | Expected distribution of profits, cost of equity |
3 | Other non-current receivables (profit participation right with respect to material assets of TAG) | Net present value approach | Expected distribution of profits, cost of equity |
AC | Other shares in unconsolidated subsidiaries, other equity interests and securities | \u2013 | Cost as the best estimate of fair value |
\u2013 | Cash and cash equivalents, trade receivables and payables, other current receivables, other borrowing within current credit lines as well as other current liabilities | \u2013 | Carrying amount as the best estimate of fair value |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Valuation techniques and input factors for determining fair values | \u00a0 | ||
Level | Financial Instruments | Valuation technique | Input factor |
1 | Energy forwards | Market approach | Settlement price published by the stock exchange |
1 | Securities, other equity interest in Burgenland Holding AG | Market approach | Stock exchange price |
2 | Securities and other loans under closed items on the balance sheet, non-current loans, liabilities to banks, bonds and other financial liabilities | Net present value approach | Payments associated with the financial instruments, yield curve, credit risk of the contracting parties (credit default swaps or credit spread curves) |
2 | Interests in unconsolidated subsidiaries, other equity interest in Energie AG Ober\u00f6sterreich, among others | Market approach | Trading multiple, transaction price |
2 | Non-listed energy forwards | Net present value approach | Forward price curve derived from stock exchange, yield curve, credit risk of the contracting parties |
2 | Other assets and liabilities measured at fair value in the finance area | Net present value approach | Cash flows already fixed or determined via forward rates, yield curve, credit risk of the contracting parties |
3 | Return obligation (obligation to transfer back the 50% interest acquired in Donaukraftwerk Jochenstein AG) | Net present value approach | Price forecasts for electricity, weighted average cost of capital after taxes |
3 | Securities (shares of Wiener B\u00f6rse AG) | Net present value approach | Expected distribution of profits, cost of equity |
3 | Other non-current receivables (profit participation right with respect to material assets of TAG) | Net present value approach | Expected distribution of profits, cost of equity |
AC | Other shares in unconsolidated subsidiaries, other equity interests and securities | \u2013 | Cost as the best estimate of fair value |
\u2013 | Cash and cash equivalents, trade receivables and payables, other current receivables, other borrowing within current credit lines as well as other current liabilities | \u2013 | Carrying amount as the best estimate of fair value |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 40.9 | 40.9 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 13.0 | 13.0 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.4 | 10.4 |
Other equity interests | FVOCI | 1 | 21.1 | 21.1 |
Other equity interests | FVOCI | 2 | 153.5 | 153.5 |
Other equity interests | FVOCI | AC | 33.2 | 33.2 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 272.1 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 37.0 | 37.0 |
Derivatives in the energy area | FVPL | 3 | 12.0 | 12.0 |
Derivatives in the finance area | FVPL | 2 | 22.2 | 22.2 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 11.6 | 11.6 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 82.8 | \u00a0 |
Securities | FVPL | 1 | 164.1 | 164.1 |
Securities | FVOCI | 3 | 9.1 | 9.1 |
Securities | FVOCI | AC | 1.6 | 1.6 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 77.9 | 78.1 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 269.7 | 270.5 |
Loans | AC | 2 | 62.3 | 63.4 |
Other | FVPL | 3 | 42.8 | 42.8 |
Other | AC | \u2013 | 143.9 | \u2013 |
Other | \u2013 | \u2013 | 31.5 | \u2013 |
Other investments and non-current other receivables | \u00a0 | \u00a0 | 803.0 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 0.1 | 0.1 |
Derivatives in the energy area | FVPL | 2 | 329.7 | 329.7 |
Derivatives in the finance area | FVPL | 2 | 3.0 | 3.0 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 4.3 | 4.3 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 337.1 | \u00a0 |
Trade receivables | AC | \u2013 | 865.9 | \u2013 |
Receivables from investees | AC | \u2013 | 39.6 | \u2013 |
Loans to investees | AC | 2 | 4.0 | 3.9 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 94.7 | 90.5 |
Securities | FVPL | 1 | 2.5 | 2.5 |
Money market transactions | AC | 2 | 30.0 | 30.0 |
Emission rights | \u2013 | \u2013 | 48.9 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Other | AC | \u2013 | 120.9 | \u2013 |
Other | \u2013 | \u2013 | 65.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,271.9 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 795.1 | \u2013 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,504.0 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 639.7 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 272.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Non-current and current financial liabilities 2024 | |||||
\u00a0 | Longest maturity | Issue volume | Carrying amount as at 31/12 | 1 year or less | \u00a0 |
Bonds | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2041 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
Total bonds | \u00a0 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
of which at a fixed interest rate | 2041 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to banks | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2041 | 907.8 | 525.9 | 47.4 | \u00a0 |
Total financial liabilities to banks | \u00a0 | 907.8 | 525.9 | 47.4 | \u00a0 |
of which at a fixed interest rate | 2041 | 857.8 | 508.3 | 41.0 | \u00a0 |
of which at a variable interest rate | 2030 | 50.0 | 17.6 | 6.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to others | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2027 | 151.0 | 145.0 | 0.6 | \u00a0 |
Total financial liabilities to others | \u00a0 | 151.0 | 145.0 | 0.6 | \u00a0 |
of which at a variable interest rate | 2027 | 151.0 | 145.0 | 0.6 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to banks \u2013 closed items on the balance sheet1 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Foreign currencies (USD) | 2030 | \u00a0 | 458.3 | 98.9 | \u00a0 |
Total financial liabilities to banks \u2013 closed items on the balance sheet | \u00a0 | \u00a0 | 458.3 | 98.9 | \u00a0 |
of which at a fixed interest rate | 2030 | \u00a0 | 458.3 | 98.9 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Capital shares attributable to limited partners | \u00a0 | \u00a0 | 10.7 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Total financial liabilities | \u00a0 | \u00a0 | 2,275.2 | 155.1 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | \u203a\u00a01 to 2 years | \u203a\u00a02 to 3 years | \u203a\u00a03 to 4 years | \u203a\u00a04 to 5 years | \u203a 5 years | Weighted nominal interest rate | Weighted effective interest rate | Fair value as at 31/12 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 39.5 | 32.5 | 133.0 | 33.1 | 240.5 | 1.95% | 2.85% | 514.0 |
\u00a0 | 39.5 | 32.5 | 133.0 | 33.1 | 240.5 | 1.95% | 2.85% | 514.0 |
\u00a0 | 37.0 | 30.0 | 130.5 | 30.6 | 239.2 | 1.91% | 2.96% | 500.0 |
\u00a0 | 2.5 | 2.5 | 2.5 | 2.5 | 1.3 | 3.23% | 1.24% | 14.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 10.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 366.1 | 210.3 | 144.8 | 43.5 | 1,355.3 | \u00a0 | \u00a0 | \u00a0 |
Non-current and current financial liabilities 2023 | |||||
Longest term to maturity | Issue volume | Carrying amount as at 31/12 | 1 year or less | ||
Bonds | |||||
EUR currency | 2041 | 1,203.0 | 1,142.7 | 513.5 | |
Total bonds | 1,142.7 | 513.5 | |||
of which at a fixed interest rate | 2041 | 1,203.0 | 1,142.7 | 513.5 | |
Financial liabilities to banks | |||||
EUR currency | 2040 | 1,284.9 | 676.8 | 192.3 | |
Total financial liabilities to banks | 676.8 | 192.3 | |||
of which at a fixed interest rate | 2040 | 814.0 | 510.4 | 46.6 | |
of which at a variable interest rate | 2030 | 470.9 | 166.3 | 145.7 | |
Financial liabilities to other entities | |||||
EUR currency | 2027 | 159.4 | 159.6 | 147.2 | |
Total financial liabilities to other entities | 159.6 | 147.2 | |||
of which at a variable interest rate | 2027 | 159.4 | 159.6 | 147.2 | |
Financial liabilities to banks \u2013 closed items on the balance sheet | |||||
Foreign currencies (USD) | 2030 | 420.6 | 0.0 | ||
Total financial liabilities to banks \u2013 closed items on the balance sheet | 420.6 | 0.0 | |||
of which at a fixed interest rate | 2030 | 420.6 | 0.0 | ||
Capital shares attributable to limited partners | 8.3 | ||||
Total financial liabilities | 2,408.0 | 852.9 | |||
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | \u203a\u00a01 to 2 years | \u203a\u00a02 to 3 years | \u203a\u00a03 to 4 years | \u203a\u00a04 to 5 years | \u203a 5 years | Weighted nominal interest rate | Weighted effective interest rate | Fair value as at 31/12 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 47.4 | 31.7 | 28.4 | 128.6 | 248.3 | 2.90% | 2.42% | 644.4 |
\u00a0 | 47.4 | 31.7 | 28.4 | 128.6 | 248.3 | 2.90% | 2.42% | 644.4 |
\u00a0 | 38.0 | 29.2 | 25.9 | 126.1 | 244.6 | 2.27% | 2.45% | 480.2 |
\u00a0 | 9.4 | 2.5 | 2.5 | 2.5 | 3.8 | 4.80% | 2.20% | 166.9 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 8.3 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 157.7 | 326.5 | 83.7 | 141.6 | 845.5 | \u00a0 | \u00a0 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2024 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount as at 31/12 | Fair value as at 31/12 |
Bonds | AC | 2 | 1,135.4 | 1,094.1 |
Financial liabilities to banks and to others | AC | 2 | 670.9 | 671.9 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 137.8 | 144.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 320.4 | 320.4 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 10.7 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,275.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 138.1 | 138.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 138.1 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 81.2 | \u2013 |
Obligation to return an interest | AC | 3 | 184.7 | 236.0 |
Trade payables | AC | \u2013 | 9.9 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 168.1 | \u00a0 |
Other | AC | \u2013 | 508.3 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 952.4 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 101.2 | 101.2 |
Derivatives in the energy area | FVPL | 3 | 1.8 | 1.8 |
Derivatives in the finance area | FVPL | 2 | 0.1 | 0.1 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 103.0 | \u00a0 |
Trade payables | AC | \u2013 | 370.8 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 10.9 | \u00a0 |
Other | AC | \u2013 | 572.5 | \u2013 |
Other | \u2013 | \u2013 | 130.2 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,084.4 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,590.4 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 241.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 320.4 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Interests in unconsolidated subsidiaries | FVOCI | 2 | 14.8 | 14.8 |
Interests in unconsolidated subsidiaries | FVOCI | AC | 5.3 | 5.3 |
Interests in unconsolidated subsidiaries | FVPL | 3 | 10.3 | 10.3 |
Other equity interests | FVOCI | 1 | 23.2 | 23.2 |
Other equity interests | FVOCI | 2 | 157.9 | 157.9 |
Other equity interests | FVOCI | AC | 16.0 | 16.0 |
Other equity interests and unconsolidated subsidiaries | \u00a0 | \u00a0 | 227.5 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 349.9 | 349.9 |
Derivatives in the energy area | FVPL | 3 | 6.3 | 6.3 |
Derivatives in the finance area | FVPL | 2 | 25.8 | 25.8 |
Derivatives in the finance area \u2013 closed items on the balance sheet | FVPL | 2 | 19.2 | 19.2 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 401.1 | \u00a0 |
Securities | FVPL | 1 | 158.4 | 158.4 |
Securities | FVOCI | 3 | 8.1 | 8.1 |
Securities | FVOCI | AC | 1.3 | 1.3 |
Securities \u2013 closed items on the balance sheet | AC | 2 | 71.9 | 72.2 |
Loans \u2013 closed items on the balance sheet | AC | 2 | 329.5 | 333.0 |
Loans | AC | 2 | 52.0 | 49.2 |
Other | FVPL | 3 | 28.7 | 28.7 |
Other | AC | \u2013 | 143.4 | \u2013 |
Other | \u2013 | \u2013 | 26.0 | \u2013 |
Investments and other receivables | \u00a0 | \u00a0 | 819.2 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 1,207.2 | 1,207.2 |
Derivatives in the finance area | FVPL | 2 | 4.4 | 4.4 |
Receivables from derivative financial instruments | \u00a0 | \u00a0 | 1,211.6 | \u00a0 |
Trade receivables | AC | \u2013 | 972.0 | \u2013 |
Receivables from investees | AC | \u2013 | 56.8 | \u2013 |
Loans to investees | AC | 2 | 22.5 | 22.4 |
Securities | FVPL | 1 | 4.4 | 4.4 |
Emission rights | \u2013 | \u2013 | 45.4 | \u2013 |
Other | AC | \u2013 | 142.2 | \u2013 |
Other | \u2013 | \u2013 | 90.5 | \u2013 |
Trade receivables, other receivables and securities | \u00a0 | \u00a0 | 1,333.8 | \u00a0 |
Cash and cash equivalents | AC | \u2013 | 964.0 | \u2013 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Assets \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial assets measured at amortised cost | AC | \u00a0 | 2,754.4 | \u00a0 |
Financial assets measured at fair value through profit or loss | FVPL | \u00a0 | 1,814.4 | \u00a0 |
Financial assets measured at fair value through other comprehensive income | FVOCI | \u00a0 | 226.6 | \u00a0 |
Carrying amounts and fair values by measurement category as at 31/12/2023 | \u20acm | |||
Liabilities \u2013 balance sheet items | Measurement category in accordance with IFRS\u00a09 | Level | Carrying amount | Fair value |
Bonds | AC | 2 | 1,142.7 | 983.0 |
Financial liabilities to banks and to others | AC | 2 | 836.4 | 804.7 |
Financial liabilities to banks \u2013 closed items on the balance sheet | AC | 2 | 125.3 | 135.1 |
Financial liabilities to banks \u2013 closed items on the balance sheet | FVPL \u2013 D | 2 | 295.3 | 295.3 |
Capital shares attributable to limited partners | \u2013 | \u2013 | 8.3 | \u2013 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | 2,408.0 | \u00a0 |
Derivatives in the energy area | FVPL | 2 | 60.9 | 60.9 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 60.9 | \u00a0 |
Electricity supply commitment | \u2013 | \u2013 | 97.9 | \u2013 |
Obligation to return an interest | AC | 3 | 122.5 | 122.5 |
Trade payables | AC | \u2013 | 2.3 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 147.8 | \u00a0 |
Other | AC | \u2013 | 402.2 | \u2013 |
Non-current other liabilities | \u00a0 | \u00a0 | 772.8 | \u00a0 |
Derivatives in the energy area | FVPL | 1 | 4.7 | 4.7 |
Derivatives in the energy area | FVPL | 2 | 293.3 | 293.3 |
Derivatives in the energy area | FVPL | 3 | 4.3 | 4.3 |
Liabilities from derivative financial instruments | \u00a0 | \u00a0 | 302.4 | \u00a0 |
Trade payables | AC | \u2013 | 327.4 | \u2013 |
Lease liabilities | \u2013 | \u2013 | 12.6 | \u00a0 |
Other | AC | \u2013 | 783.0 | \u2013 |
Other | \u2013 | \u2013 | 152.4 | \u2013 |
Trade payables and current other liabilities | \u00a0 | \u00a0 | 1,275.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Aggregated by measurement category | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities measured at amortised cost | AC | \u00a0 | 3,741.8 | \u00a0 |
Financial liabilities measured at fair value through profit or loss | FVPL | \u00a0 | 363.2 | \u00a0 |
Financial liabilities measured at fair value through profit or loss \u2013 designated | FVPL \u2013 D | \u00a0 | 295.3 | \u00a0 |
Net results by measurement category | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Financial assets measured at amortised cost | \u2013\u00a021.5 | 15.7 |
Financial assets measured at fair value through other comprehensive income | 32.7 | \u2013\u00a04.3 |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | 22.5 | \u2013\u00a014.2 |
Financial liabilities measured at amortised cost | 8.0 | \u2013\u00a059.2 |
Financial assets and liabilities measured at fair value through profit or loss | 36.6 | \u2013\u00a0109.9 |
Total interest income from financial assets measured at amortised cost | 72.0 | 89.4 |
Total interest expenses from financial liabilities measured at amortised cost | \u2013\u00a0120.7 | \u2013\u00a0104.2 |
Components of net gains or losses | \u00a0 |
Measurement category | Remark |
Financial assets and liabilities measured at fair value through profit or loss | The net gains or losses arose from the measurement of derivative financial instruments in the energy area (wholesale and trading) in the operating result, as well as from the measurement of (other) derivative and non-derivative financial instruments in the finance area in the other financial result |
Financial assets and liabilities measured at fair value through profit or loss \u2013 designated | The net gains or losses arose from the measurement of financial liabilities to banks (closed items on the balance sheet). These gains and losses are offset by net gains and losses from financial assets and liabilities measured at fair value through profit or loss and net gains and losses from financial assets and liabilities measured at cost in the corresponding amounts. |
Financial assets and liabilities measured at amortised cost | The net gains and losses relate primarily to financial instruments associated with closed items on the balance sheet in the other financial result as well as to valuation allowances on trade receivables in the operating result. |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet in 2024\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifi-cations from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | \u2013\u00a0149.0 | 0.0 | 0.1 | Revenue | 702.9 | Revenue |
Electricity futures and forwards \u2013 purchases | 39.6 | 0.0 | 0.0 | Electricity procurement | \u2013\u00a0294.8 | Electricity procurement |
Gas forwards \u2013 purchases | 0.9 | 0.0 | 0.0 | Gas procurement | \u2013\u00a015.3 | Gas procurement |
Interest rate swaps | \u2013\u00a00.1 | 0.4 | 0.0 | Other financial result | 4.5 | Interest expenses |
Cash flow hedges \u2013 effects on the statement of comprehensive income and balance sheet 2023\u00a0 | \u20acm | |||||
\u00a0 | Gains/ losses recognised in other comprehen-sive income | Hedging costs | Ineffective portion of the hedge recognised in profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised | Reclassifica-tions from reserves to profit or loss | Line items in the income statement in which hedge ineffectiveness was recognised |
Electricity futures and forwards \u2013 sales | 1,637.1 | 0.0 | 0.4 | Revenue | \u2013\u00a0900.2 | Revenue |
Electricity futures and forwards \u2013 purchases | \u2013\u00a0476.4 | 0.0 | 0.0 | Electricity purchases | \u2013\u00a0108.0 | Electricity purchases |
Gas forwards \u2013 purchases | \u2013\u00a09.6 | 0.0 | 0.0 | Gas purchases | \u2013\u00a07.9 | Gas purchases |
Interest rate swaps | \u2013\u00a06.1 | 0.0 | 0.0 | Other financial result | 7.2 | Interest expenses |
Inventories | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Natural gas1 | 35.4 | 47.9 |
Inventories of primary energy sources | 35.4 | 47.9 |
Emission rights held for trading | 16.6 | 19.7 |
Changes in emission rights held for trading | \u2013\u00a00.1 | 2.2 |
Fair value of emission rights held for trading | 16.5 | 21.9 |
Guarantees of origin and green electricity certificates | 8.0 | 0.8 |
Additives and consumables | 14.9 | 13.8 |
Other | 6.0 | 9.8 |
Inventories | 80.8 | 94.3 |
Receivables from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 356.2 | 49.0 | 1,207.2 | 329.8 |
Derivatives in the finance area | 44.9 | 33.8 | 4.4 | 7.3 |
Receivables from derivative financial instruments | 401.1 | 82.8 | 1,211.6 | 337.1 |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Other receivables and assets | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Securities | \u2013 | \u2013 | 4.4 | 2.5 |
Guarantees in electricity trading | 132.9 | 132.0 | 108.9 | 77.2 |
Emission rights | \u2013 | \u2013 | 45.4 | 48.9 |
Receivables from tax clearing | \u2013 | \u2013 | 67.7 | 25.2 |
Other | 65.2 | 86.2 | 56.0 | 113.8 |
Other receivables and assets | 198.1 | 218.2 | 282.3 | 267.7 |
Cash and cash equivalents | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Cash at banks | 964.0 | 795.1 |
Cash and cash equivalents | 964.0 | 795.1 |
Financial instruments subject to credit risk by assigned rating group 2024 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables1 | Trade receivables | Investments and cash and cash equivalents2 |
A | up to Aa3 | 299.3 | 3.1 | 0.0 | 31.3 | 337.5 |
B | up to A3 | 158.8 | 1.9 | 22.1 | 165.7 | 453.2 |
C1\u2013C3 | up to Baa3 | 0.0 | 0.0 | 42.8 | 352.5 | 34.4 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 34.5 | 0.0 |
Not rated | \u00a0 | 0.0 | 172.4 | 348.5 | 281.8 | 0.0 |
Total | \u00a0 | 458.1 | 177.4 | 413.5 | 865.9 | 825.2 |
Financial instruments with credit risk by assigned rating group 2023 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s-rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables | Trade receivables | Invest-ments and cash and cash equivalents |
A | up to Aa3 | 269.7 | 0.0 | 0.0 | 82.4 | 297.6 |
B | up to A3 | 150.8 | 4.6 | 38.1 | 158.0 | 617.7 |
C1\u2013C3 | up to Baa3 | 0.0 | 1.1 | 0.0 | 435.9 | 48.7 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 18.7 | 0.0 |
Not rated | \u00a0 | 0.0 | 166.5 | 437.7 | 277.1 | 0.0 |
Total | \u00a0 | 420.5 | 172.2 | 475.8 | 972.0 | 964.0 |
Liabilities from derivative financial instruments | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Derivatives in the energy area | 60.9 | 138.1 | 302.4 | 102.9 |
Derivatives in the finance area | 0.0 | 0.0 | 0.0 | 0.1 |
Liabilities from derivative financial instruments | 60.9 | 138.1 | 302.4 | 103.0 |
Trade payables and current other liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Trade payables | 327.4 | 370.8 |
Outstanding invoices for capital expenditure | 217.7 | 224.0 |
Liabilities to unconsolidated subsidiaries and investees | 48.9 | 100.1 |
Other liabilities for maintenance expenses | 58.3 | 69.4 |
Other liabilities from electricity deliveries and grid services | 201.0 | 67.9 |
Other personnel-related liabilities | 49.9 | 58.2 |
Liabilities to the emissions registry | 22.2 | 38.6 |
Security deposits for transport services | 38.8 | 33.1 |
Liabilities to tax authorities | 67.1 | 27.2 |
Electricity supply commitment | 15.4 | 16.7 |
Accruals and deferred income | 11.1 | 14.1 |
Lease liabilities | 12.6 | 10.9 |
Advance payments received | 7.8 | 5.4 |
Windfall tax liabilities | 75.5 | 0.0 |
Liabilities from equity interest transactions | 55.4 | 0.0 |
Other | 66.2 | 47.7 |
Trade payables and current other liabilities | 1,275.4 | 1,084.4 |
Other non-current liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Other liabilities from electricity deliveries and grid services | 212.6 | 313.4 |
Obligation to return an interest | 122.5 | 184.7 |
Lease liabilities | 147.8 | 168.1 |
Advance payments received for grid access fees (electricity) | 62.2 | 98.9 |
Electricity supply commitment | 97.9 | 81.2 |
Liabilities for grid usage fees (gas) | 43.4 | 36.8 |
Liabilities from outstanding capital expenditure invoices | 32.7 | 22.0 |
Trade payables | 2.3 | 9.9 |
Security deposits for transport services | 12.7 | 6.6 |
Other | 38.7 | 30.7 |
Other non-current liabilities | 772.8 | 952.4 |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Trade receivables, other receivables and securities | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Trade receivables | \u2013 | \u2013 | 972.0 | 865.9 |
Receivables from investees | \u2013 | \u2013 | 56.8 | 39.6 |
Loans \u2013 closed items on the balance sheet | 329.5 | 269.7 | 0.0 | 94.7 |
Loans to investees | 46.1 | 54.8 | 22.5 | 4.0 |
Other receivables and assets | 198.1 | 218.2 | 282.4 | 267.8 |
Trade receivables, other receivables and securities | 573.6 | 542.7 | 1,333.8 | 1,271.9 |
Other receivables and assets | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Securities | \u2013 | \u2013 | 4.4 | 2.5 |
Guarantees in electricity trading | 132.9 | 132.0 | 108.9 | 77.2 |
Emission rights | \u2013 | \u2013 | 45.4 | 48.9 |
Receivables from tax clearing | \u2013 | \u2013 | 67.7 | 25.2 |
Other | 65.2 | 86.2 | 56.0 | 113.8 |
Other receivables and assets | 198.1 | 218.2 | 282.3 | 267.7 |
Trade payables and current other liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Trade payables | 327.4 | 370.8 |
Outstanding invoices for capital expenditure | 217.7 | 224.0 |
Liabilities to unconsolidated subsidiaries and investees | 48.9 | 100.1 |
Other liabilities for maintenance expenses | 58.3 | 69.4 |
Other liabilities from electricity deliveries and grid services | 201.0 | 67.9 |
Other personnel-related liabilities | 49.9 | 58.2 |
Liabilities to the emissions registry | 22.2 | 38.6 |
Security deposits for transport services | 38.8 | 33.1 |
Liabilities to tax authorities | 67.1 | 27.2 |
Electricity supply commitment | 15.4 | 16.7 |
Accruals and deferred income | 11.1 | 14.1 |
Lease liabilities | 12.6 | 10.9 |
Advance payments received | 7.8 | 5.4 |
Windfall tax liabilities | 75.5 | 0.0 |
Liabilities from equity interest transactions | 55.4 | 0.0 |
Other | 66.2 | 47.7 |
Trade payables and current other liabilities | 1,275.4 | 1,084.4 |
Other non-current liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Other liabilities from electricity deliveries and grid services | 212.6 | 313.4 |
Obligation to return an interest | 122.5 | 184.7 |
Lease liabilities | 147.8 | 168.1 |
Advance payments received for grid access fees (electricity) | 62.2 | 98.9 |
Electricity supply commitment | 97.9 | 81.2 |
Liabilities for grid usage fees (gas) | 43.4 | 36.8 |
Liabilities from outstanding capital expenditure invoices | 32.7 | 22.0 |
Trade payables | 2.3 | 9.9 |
Security deposits for transport services | 12.7 | 6.6 |
Other | 38.7 | 30.7 |
Other non-current liabilities | 772.8 | 952.4 |
Trade payables and current other liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Trade payables | 327.4 | 370.8 |
Outstanding invoices for capital expenditure | 217.7 | 224.0 |
Liabilities to unconsolidated subsidiaries and investees | 48.9 | 100.1 |
Other liabilities for maintenance expenses | 58.3 | 69.4 |
Other liabilities from electricity deliveries and grid services | 201.0 | 67.9 |
Other personnel-related liabilities | 49.9 | 58.2 |
Liabilities to the emissions registry | 22.2 | 38.6 |
Security deposits for transport services | 38.8 | 33.1 |
Liabilities to tax authorities | 67.1 | 27.2 |
Electricity supply commitment | 15.4 | 16.7 |
Accruals and deferred income | 11.1 | 14.1 |
Lease liabilities | 12.6 | 10.9 |
Advance payments received | 7.8 | 5.4 |
Windfall tax liabilities | 75.5 | 0.0 |
Liabilities from equity interest transactions | 55.4 | 0.0 |
Other | 66.2 | 47.7 |
Trade payables and current other liabilities | 1,275.4 | 1,084.4 |
Non-controlling interests | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Gas Connect Austria GmbH | 49.00 | 49.00 |
Austrian Gas Grid Management AG | 73.99 | 73.99 |
VERBUND Innkraftwerke GmbH | 29.73 | 29.73 |
VERBUND Hydro Power GmbH | 15.94 | 15.94 |
VERBUND Wind Power Austria GmbH | 15.94 | 15.94 |
Non-controlling interests | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Gas Connect Austria GmbH | 49.00 | 49.00 |
Austrian Gas Grid Management AG | 73.99 | 73.99 |
VERBUND Innkraftwerke GmbH | 29.73 | 29.73 |
VERBUND Hydro Power GmbH | 15.94 | 15.94 |
VERBUND Wind Power Austria GmbH | 15.94 | 15.94 |
Subsidiaries with material non-controlling interests: statement of comprehensive income | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 2023 | \u00a0 | \u00a0 | 2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Amounts held as non-controlling interests | 15.94% | 49.00% | 29.73% | 15.94% | 49.00% | 29.73% |
Revenue | 3,392.1 | 324.0 | 424.9 | 2,714.0 | 183.8 | 279.0 |
Profit for the period | 2,175.1 | 77.2 | 262.6 | 1,632.8 | \u2013\u00a093.9 | 157.9 |
Profit for the period attributable to non-controlling interests | 345.3 | 40.5 | 78.1 | 260.2 | \u2013\u00a047.2 | 47.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Other comprehensive income | \u2013\u00a010.4 | \u2013\u00a02.0 | 0.5 | \u2013\u00a017.7 | \u2013\u00a01.1 | \u2013\u00a01.1 |
Total comprehensive income for the period | 2,164.8 | 75.2 | 263.1 | 1,615.1 | \u2013\u00a095.1 | 156.8 |
Total profit or loss for the period attributable to non-controlling interests | 345.1 | 36.8 | 78.2 | 257.4 | \u2013\u00a046.6 | 46.6 |
Subsidiaries with material non-controlling interests: balance sheet | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 31/12/2023 | \u00a0 | \u00a0 | 31/12/2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Non-current assets | 5,158.7 | 695.9 | 941.3 | 5,389.8 | 544.4 | 930.5 |
Current assets | 1,550.7 | 154.1 | 315.2 | 902.7 | 65.1 | 172.6 |
Non-current liabilities | \u2013\u00a01,671.3 | \u2013\u00a079.8 | \u2013\u00a0137.6 | \u2013\u00a01,649.3 | \u2013\u00a0299.1 | \u2013\u00a0182.2 |
Current liabilities | \u2013\u00a0472.3 | \u2013\u00a0389.6 | \u2013\u00a055.2 | \u2013\u00a0351.5 | \u2013\u00a064.5 | \u2013\u00a044.6 |
Net assets | 4,565.8 | 380.5 | 1,063.7 | 4,291.7 | 245.9 | 876.3 |
Amounts held as non-controlling interests | 15.94% | 49.00% | 29.73% | 15.94% | 49.00% | 29.73% |
Net assets attributable to non-controlling interests | 727.8 | 186.4 | 316.3 | 684.1 | 120.5 | 260.5 |
Subsidiaries with material non-controlling interests: cash flows | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 31/12/2023 | \u00a0 | \u00a0 | 31/12/2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Cash flow from operating activities | 2,326.0 | 163.2 | 359.9 | 1,747.7 | 37.0 | 224.0 |
Cash flow from investing activities | \u2013\u00a0302.7 | \u2013\u00a0142.9 | \u2013\u00a019.2 | \u2013\u00a0400.5 | \u2013\u00a034.8 | \u2013\u00a016.3 |
Cash flow from financing activities | \u2013\u00a02,023.3 | \u2013\u00a041.1 | \u2013\u00a0340.8 | \u2013\u00a01,347.2 | \u2013\u00a02.7 | \u2013\u00a0207.7 |
Change in cash and cash equivalents | 0.0 | \u2013\u00a020.8 | 0.0 | 0.0 | \u2013\u00a00.4 | 0.0 |
Dividends paid to non-controlling interests | 253.0 | 20.1 | 29.7 | 369.8 | 20.0 | 102.3 |
Non-current and current financial liabilities | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Bonds | 629.2 | 1,127.3 | 513.5 | 8.1 |
Financial liabilities to banks | 484.5 | 478.5 | 192.3 | 47.4 |
Financial liabilities to others | 12.4 | 144.4 | 147.2 | 0.6 |
Capital shares attributable to limited partners | 8.3 | 10.7 | 0.0 | 0.0 |
Financial liabilities not including closed items on the balance sheet | 1,134.4 | 1,760.8 | 852.9 | 56.2 |
Financial liabilities to banks \u2013 closed items on the balance sheet | 420.6 | 359.3 | 0.0 | 98.9 |
Non-current and current financial liabilities | 1,555.0 | 2,120.1 | 852.9 | 155.1 |
Non-current and current financial liabilities1 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Carrying amount as at 1/1 | 3,515.0 | 1,987.3 |
Borrowings | 12.1 | 628.8 |
Changes in the basis of consolidation | 1.3 | 43.8 |
Net change in money market transactions | \u2013\u00a0906.8 | \u2013\u00a0143.2 |
Change in put liability | \u2013\u00a052.1 | 0.0 |
Changes in capital shares attributable to limited partners | 1.0 | 2.4 |
Changes in interest accruals | 2.1 | 13.1 |
Unscheduled repayments | \u2013\u00a0500.0 | 0.0 |
Scheduled repayments | \u2013\u00a069.6 | \u2013\u00a0715.3 |
Reclassifications | \u2013\u00a015.6 | 0.0 |
Carrying amount as at 31/12 | 1,987.3 | 1,817.0 |
of which non-current liabilities | 1,134.4 | 1,760.8 |
of which current liabilities | 852.9 | 56.2 |
Financial liabilities \u2013 closed items on the balance sheet | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Carrying amount as at 1/1 | 438.9 | 420.6 |
Foreign exchange gains or losses | \u2013\u00a016.9 | 22.9 |
Capitalisation | 32.2 | 33.3 |
Repayments or disposals | \u2013\u00a021.1 | \u2013\u00a015.3 |
Fair value changes | \u2013\u00a012.3 | \u2013\u00a03.3 |
Carrying amount as at 31/12 | 420.6 | 458.3 |
of which non-current liabilities | 420.6 | 359.3 |
of which current liabilities | 0.0 | 98.9 |
Non-current and current financial liabilities 2024 | |||||
\u00a0 | Longest maturity | Issue volume | Carrying amount as at 31/12 | 1 year or less | \u00a0 |
Bonds | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2041 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
Total bonds | \u00a0 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
of which at a fixed interest rate | 2041 | 1,203.0 | 1,135.4 | 8.1 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to banks | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2041 | 907.8 | 525.9 | 47.4 | \u00a0 |
Total financial liabilities to banks | \u00a0 | 907.8 | 525.9 | 47.4 | \u00a0 |
of which at a fixed interest rate | 2041 | 857.8 | 508.3 | 41.0 | \u00a0 |
of which at a variable interest rate | 2030 | 50.0 | 17.6 | 6.4 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to others | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
EUR currency | 2027 | 151.0 | 145.0 | 0.6 | \u00a0 |
Total financial liabilities to others | \u00a0 | 151.0 | 145.0 | 0.6 | \u00a0 |
of which at a variable interest rate | 2027 | 151.0 | 145.0 | 0.6 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Financial liabilities to banks \u2013 closed items on the balance sheet1 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Foreign currencies (USD) | 2030 | \u00a0 | 458.3 | 98.9 | \u00a0 |
Total financial liabilities to banks \u2013 closed items on the balance sheet | \u00a0 | \u00a0 | 458.3 | 98.9 | \u00a0 |
of which at a fixed interest rate | 2030 | \u00a0 | 458.3 | 98.9 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Capital shares attributable to limited partners | \u00a0 | \u00a0 | 10.7 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Total financial liabilities | \u00a0 | \u00a0 | 2,275.2 | 155.1 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | \u203a\u00a01 to 2 years | \u203a\u00a02 to 3 years | \u203a\u00a03 to 4 years | \u203a\u00a04 to 5 years | \u203a 5 years | Weighted nominal interest rate | Weighted effective interest rate | Fair value as at 31/12 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | 11.1 | 11.4 | 11.3 | 9.9 | 1,083.6 | 2.04% | 1.70% | 1,094.1 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 39.5 | 32.5 | 133.0 | 33.1 | 240.5 | 1.95% | 2.85% | 514.0 |
\u00a0 | 39.5 | 32.5 | 133.0 | 33.1 | 240.5 | 1.95% | 2.85% | 514.0 |
\u00a0 | 37.0 | 30.0 | 130.5 | 30.6 | 239.2 | 1.91% | 2.96% | 500.0 |
\u00a0 | 2.5 | 2.5 | 2.5 | 2.5 | 1.3 | 3.23% | 1.24% | 14.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | 0.6 | 134.4 | 0.6 | 0.6 | 8.2 | 4.11% | 4.25% | 157.9 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | 304.2 | 32.1 | 0.0 | 0.0 | 23.0 | \u00a0 | \u00a0 | 464.5 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 10.7 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 366.1 | 210.3 | 144.8 | 43.5 | 1,355.3 | \u00a0 | \u00a0 | \u00a0 |
Non-current and current financial liabilities 2023 | |||||
Longest term to maturity | Issue volume | Carrying amount as at 31/12 | 1 year or less | ||
Bonds | |||||
EUR currency | 2041 | 1,203.0 | 1,142.7 | 513.5 | |
Total bonds | 1,142.7 | 513.5 | |||
of which at a fixed interest rate | 2041 | 1,203.0 | 1,142.7 | 513.5 | |
Financial liabilities to banks | |||||
EUR currency | 2040 | 1,284.9 | 676.8 | 192.3 | |
Total financial liabilities to banks | 676.8 | 192.3 | |||
of which at a fixed interest rate | 2040 | 814.0 | 510.4 | 46.6 | |
of which at a variable interest rate | 2030 | 470.9 | 166.3 | 145.7 | |
Financial liabilities to other entities | |||||
EUR currency | 2027 | 159.4 | 159.6 | 147.2 | |
Total financial liabilities to other entities | 159.6 | 147.2 | |||
of which at a variable interest rate | 2027 | 159.4 | 159.6 | 147.2 | |
Financial liabilities to banks \u2013 closed items on the balance sheet | |||||
Foreign currencies (USD) | 2030 | 420.6 | 0.0 | ||
Total financial liabilities to banks \u2013 closed items on the balance sheet | 420.6 | 0.0 | |||
of which at a fixed interest rate | 2030 | 420.6 | 0.0 | ||
Capital shares attributable to limited partners | 8.3 | ||||
Total financial liabilities | 2,408.0 | 852.9 | |||
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | \u203a\u00a01 to 2 years | \u203a\u00a02 to 3 years | \u203a\u00a03 to 4 years | \u203a\u00a04 to 5 years | \u203a 5 years | Weighted nominal interest rate | Weighted effective interest rate | Fair value as at 31/12 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | 14.2 | 12.9 | 13.1 | 13.0 | 575.9 | 1.29% | 1.34% | 983.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 47.4 | 31.7 | 28.4 | 128.6 | 248.3 | 2.90% | 2.42% | 644.4 |
\u00a0 | 47.4 | 31.7 | 28.4 | 128.6 | 248.3 | 2.90% | 2.42% | 644.4 |
\u00a0 | 38.0 | 29.2 | 25.9 | 126.1 | 244.6 | 2.27% | 2.45% | 480.2 |
\u00a0 | 9.4 | 2.5 | 2.5 | 2.5 | 3.8 | 4.80% | 2.20% | 166.9 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 3.78% | 2.78% | 160.3 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | 87.8 | 281.9 | 29.7 | 0.0 | 21.3 | \u00a0 | \u00a0 | 430.4 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 8.3 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 157.7 | 326.5 | 83.7 | 141.6 | 845.5 | \u00a0 | \u00a0 | \u00a0 |
Other non-current liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Other liabilities from electricity deliveries and grid services | 212.6 | 313.4 |
Obligation to return an interest | 122.5 | 184.7 |
Lease liabilities | 147.8 | 168.1 |
Advance payments received for grid access fees (electricity) | 62.2 | 98.9 |
Electricity supply commitment | 97.9 | 81.2 |
Liabilities for grid usage fees (gas) | 43.4 | 36.8 |
Liabilities from outstanding capital expenditure invoices | 32.7 | 22.0 |
Trade payables | 2.3 | 9.9 |
Security deposits for transport services | 12.7 | 6.6 |
Other | 38.7 | 30.7 |
Other non-current liabilities | 772.8 | 952.4 |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Non-current and current provisions | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provisions for pensions | 301.4 | 318.8 | \u2013 | \u2013 |
Provisions for obligations similar to pensions | 105.7 | 120.8 | \u2013 | \u2013 |
Provisions for termination benefits | 90.2 | 89.3 | \u2013 | \u2013 |
Provisions for partial retirement | 2.7 | 2.2 | 1.3 | 1.2 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Other provisions | 39.6 | 55.1 | 40.0 | 18.7 |
Non-current and current provisions | 566.0 | 621.3 | 78.9 | 63.7 |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Reconciliation from defined benefit obligation to provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation covered by plan assets | 230.1 | 245.2 | \u2013 | \u2013 |
Fair value of plan assets | \u2013\u00a0163.0 | \u2013\u00a0164.5 | \u2013 | \u2013 |
Net value of obligations covered by plan assets | 67.1 | 80.7 | \u2013 | \u2013 |
Defined benefit obligation not covered by plan assets | 234.3 | 238.1 | 105.7 | 120.8 |
Carrying amount of provisions as at 31/12 | 301.4 | 318.8 | 105.7 | 120.8 |
Pension expenses | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Net interest expense | 10.6 | 10.6 | 3.6 | 3.9 |
Pension expenses (recognised in profit for the period) | 12.1 | 12.1 | 4.5 | 4.9 |
Remeasurements of the net liability | 18.1 | 32.3 | 7.1 | 15.5 |
Pension expenses (recognised in total comprehensive income for the period) | 30.2 | 44.4 | 11.6 | 20.4 |
Change in defined benefit obligation | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation as at 1/1 | 457.5 | 464.4 | 98.9 | 105.7 |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Pension payments or contributions to supplementary health insurance (benefit payments) | \u2013\u00a036.6 | \u2013\u00a037.8 | \u2013\u00a04.8 | \u2013\u00a05.3 |
Interest expenses | 16.4 | 16.6 | 3.6 | 3.9 |
Remeasurements based on experience adjustments | 5.7 | 3.3 | 2.7 | 3.5 |
Remeasurements arising from changes in financial assumptions | 19.9 | 35.3 | 4.4 | 12.0 |
Defined benefit obligation as at 31/12 | 464.4 | 483.3 | 105.7 | 120.8 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations |
Fair value of plan assets as at 1/1 | 156.4 | 163.0 |
Contributions by VERBUND | 8.5 | 5.4 |
Payouts (benefit payments) | \u2013\u00a015.2 | \u2013\u00a016.2 |
Interest income | 5.8 | 6.0 |
Other gains (+) or losses (\u2013) | 7.5 | 6.3 |
Fair value of plan assets as at 31/12 | 163.0 | 164.5 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
\u00a0 | Quoted | Quoted |
Equities | 40.6 | 43.1 |
Bonds | 32.0 | 29.8 |
Money market | 6.3 | 4.1 |
Other investments | 21.1 | 23.0 |
Total | 100.0 | 100.0 |
Analysis of provisions for termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Provisions for statutory termination benefits | 89.9 | 89.1 |
Provisions for termination benefits based on special agreements as defined in the Sozialplan concluded between management and the works council | 0.5 | 0.4 |
Carrying amount of provisions as at 31/12 | 90.4 | 89.5 |
Termination benefit expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 0.7 | 0.8 |
Net interest expense | 3.1 | 3.2 |
Termination benefit expenses (recognised in profit for the period) | 3.8 | 4.0 |
Remeasurements of termination benefits | 5.5 | 5.6 |
Termination benefit expenses (recognised in total comprehensive income for the period) | 9.3 | 9.6 |
Change in defined benefit obligation for statutory termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 93.4 | 89.9 |
Service costs (vested claims) | 0.7 | 0.8 |
Interest expenses | 3.1 | 3.2 |
Termination benefits (benefit payments) | \u2013\u00a012.8 | \u2013\u00a010.4 |
Remeasurements based on experience adjustments | 3.0 | 0.9 |
Remeasurements arising from changes in financial assumptions | 2.5 | 4.7 |
Defined benefit obligation as at 31/12 | 89.9 | 89.1 |
Reconciliation from defined benefit obligation to provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation covered by plan assets | 7.3 | 6.7 |
Fair value of plan assets | \u2013\u00a03.3 | \u2013\u00a03.2 |
Carrying amount of provisions as at 31/12 | 4.0 | 3.5 |
Expenses for partial retirement | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Remeasurements | 0.7 | \u2013\u00a00.5 |
Expenses for partial retirement (recognised in profit for the period) | 2.0 | 2.1 |
Change in defined benefit obligation | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 8.1 | 7.3 |
Service costs (vested claims) | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Payments for early retirement | \u2013\u00a03.0 | \u2013\u00a02.6 |
Remeasurements | 0.9 | \u2013\u00a00.6 |
Defined benefit obligation as at 31/12 | 7.3 | 6.7 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Fair value of plan assets as at 1/1 | 3.1 | 3.3 |
Other gains (+) or losses (\u2013) | 0.2 | \u2013\u00a00.1 |
Fair value of plan assets as at 31/12 | 3.3 | 3.2 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Bonds | 100.0 | 100.0 |
Total | 100.0 | 100.0 |
Analysis of other personnel-related provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provision for bonuses from the performance-based remuneration system | \u2013 | \u2013 | 37.3 | 43.5 |
Provision for anniversary bonuses | 20.7 | 28.1 | \u2013 | \u2013 |
Other | 5.5 | 7.1 | 0.3 | 0.3 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Change in other personnel-related provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Carrying amount as at 1/1 | 55.3 | 64.0 |
of which non-current | 21.4 | 26.4 |
of which current | 33.9 | 37.6 |
New provisions | 33.8 | 43.8 |
Interest accrued | 0.8 | 0.9 |
Appropriation | \u2013\u00a023.6 | \u2013\u00a029.5 |
Reversal | \u2013\u00a02.3 | \u2013\u00a00.2 |
Carrying amount as at 31/12 | 64.0 | 79.0 |
of which non-current | 26.4 | 35.2 |
of which current | 37.6 | 43.8 |
Change in other provisions 2024 | \u20acm | ||
\u00a0 | Dismantling and decontamin- ation costs | Other | Total |
Carrying amount as at 1/1/2024 | 35.3 | 44.3 | 79.6 |
of which non-current | 32.4 | 7.2 | 39.6 |
of which current | 2.9 | 37.1 | 40.0 |
Change in the scope of consolidation | 0.7 | 0.0 | 0.7 |
New provisions | 7.4 | 10.8 | 18.2 |
Interest accrued | 1.0 | 0.9 | 1.9 |
Appropriation | \u2013\u00a04.2 | \u2013\u00a014.3 | \u2013\u00a018.4 |
Reversal | \u2013\u00a00.6 | \u2013\u00a07.7 | \u2013\u00a08.3 |
Carrying amount as at 31/12/2024 | 39.7 | 34.0 | 73.7 |
of which non-current | 38.2 | 16.8 | 55.1 |
of which current | 1.5 | 17.2 | 18.7 |
Change in other provisions 2023 | \u20acm | ||
\u00a0 | Dismantling and decontamin- ation costs | Other | Total |
Carrying amount as at 1/1/2023 | 29.9 | 86.1 | 116.0 |
of which non-current | 26.4 | 74.3 | 100.7 |
of which current | 3.6 | 11.8 | 15.4 |
Change in the scope of consolidation | 3.2 | 0.0 | 3.2 |
New provisions | 6.4 | 13.5 | 19.9 |
Interest accrued | \u2013\u00a02.1 | 2.3 | 0.2 |
Appropriation | \u2013\u00a00.9 | \u2013\u00a043.0 | \u2013\u00a043.9 |
Reversal | \u2013\u00a01.2 | \u2013\u00a014.6 | \u2013\u00a015.8 |
Carrying amount as at 31/12/2023 | 35.3 | 44.3 | 79.6 |
of which non-current | 32.4 | 7.2 | 39.6 |
of which current | 2.9 | 37.1 | 40.0 |
Non-current and current provisions | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provisions for pensions | 301.4 | 318.8 | \u2013 | \u2013 |
Provisions for obligations similar to pensions | 105.7 | 120.8 | \u2013 | \u2013 |
Provisions for termination benefits | 90.2 | 89.3 | \u2013 | \u2013 |
Provisions for partial retirement | 2.7 | 2.2 | 1.3 | 1.2 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Other provisions | 39.6 | 55.1 | 40.0 | 18.7 |
Non-current and current provisions | 566.0 | 621.3 | 78.9 | 63.7 |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Reconciliation from defined benefit obligation to provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation covered by plan assets | 230.1 | 245.2 | \u2013 | \u2013 |
Fair value of plan assets | \u2013\u00a0163.0 | \u2013\u00a0164.5 | \u2013 | \u2013 |
Net value of obligations covered by plan assets | 67.1 | 80.7 | \u2013 | \u2013 |
Defined benefit obligation not covered by plan assets | 234.3 | 238.1 | 105.7 | 120.8 |
Carrying amount of provisions as at 31/12 | 301.4 | 318.8 | 105.7 | 120.8 |
Pension expenses | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Net interest expense | 10.6 | 10.6 | 3.6 | 3.9 |
Pension expenses (recognised in profit for the period) | 12.1 | 12.1 | 4.5 | 4.9 |
Remeasurements of the net liability | 18.1 | 32.3 | 7.1 | 15.5 |
Pension expenses (recognised in total comprehensive income for the period) | 30.2 | 44.4 | 11.6 | 20.4 |
Change in defined benefit obligation | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations | Obligations similar to pensions | Obligations similar to pensions |
Defined benefit obligation as at 1/1 | 457.5 | 464.4 | 98.9 | 105.7 |
Service costs (vested claims) | 1.5 | 1.5 | 0.9 | 1.0 |
Pension payments or contributions to supplementary health insurance (benefit payments) | \u2013\u00a036.6 | \u2013\u00a037.8 | \u2013\u00a04.8 | \u2013\u00a05.3 |
Interest expenses | 16.4 | 16.6 | 3.6 | 3.9 |
Remeasurements based on experience adjustments | 5.7 | 3.3 | 2.7 | 3.5 |
Remeasurements arising from changes in financial assumptions | 19.9 | 35.3 | 4.4 | 12.0 |
Defined benefit obligation as at 31/12 | 464.4 | 483.3 | 105.7 | 120.8 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | Pension obligations | Pension obligations |
Fair value of plan assets as at 1/1 | 156.4 | 163.0 |
Contributions by VERBUND | 8.5 | 5.4 |
Payouts (benefit payments) | \u2013\u00a015.2 | \u2013\u00a016.2 |
Interest income | 5.8 | 6.0 |
Other gains (+) or losses (\u2013) | 7.5 | 6.3 |
Fair value of plan assets as at 31/12 | 163.0 | 164.5 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
\u00a0 | Quoted | Quoted |
Equities | 40.6 | 43.1 |
Bonds | 32.0 | 29.8 |
Money market | 6.3 | 4.1 |
Other investments | 21.1 | 23.0 |
Total | 100.0 | 100.0 |
Analysis of provisions for termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Provisions for statutory termination benefits | 89.9 | 89.1 |
Provisions for termination benefits based on special agreements as defined in the Sozialplan concluded between management and the works council | 0.5 | 0.4 |
Carrying amount of provisions as at 31/12 | 90.4 | 89.5 |
Termination benefit expenses | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 0.7 | 0.8 |
Net interest expense | 3.1 | 3.2 |
Termination benefit expenses (recognised in profit for the period) | 3.8 | 4.0 |
Remeasurements of termination benefits | 5.5 | 5.6 |
Termination benefit expenses (recognised in total comprehensive income for the period) | 9.3 | 9.6 |
Change in defined benefit obligation for statutory termination benefits | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 93.4 | 89.9 |
Service costs (vested claims) | 0.7 | 0.8 |
Interest expenses | 3.1 | 3.2 |
Termination benefits (benefit payments) | \u2013\u00a012.8 | \u2013\u00a010.4 |
Remeasurements based on experience adjustments | 3.0 | 0.9 |
Remeasurements arising from changes in financial assumptions | 2.5 | 4.7 |
Defined benefit obligation as at 31/12 | 89.9 | 89.1 |
Reconciliation from defined benefit obligation to provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation covered by plan assets | 7.3 | 6.7 |
Fair value of plan assets | \u2013\u00a03.3 | \u2013\u00a03.2 |
Carrying amount of provisions as at 31/12 | 4.0 | 3.5 |
Expenses for partial retirement | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Service costs | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Remeasurements | 0.7 | \u2013\u00a00.5 |
Expenses for partial retirement (recognised in profit for the period) | 2.0 | 2.1 |
Change in defined benefit obligation | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Defined benefit obligation as at 1/1 | 8.1 | 7.3 |
Service costs (vested claims) | 1.1 | 2.4 |
Net interest expense | 0.2 | 0.2 |
Payments for early retirement | \u2013\u00a03.0 | \u2013\u00a02.6 |
Remeasurements | 0.9 | \u2013\u00a00.6 |
Defined benefit obligation as at 31/12 | 7.3 | 6.7 |
Change in plan assets | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Fair value of plan assets as at 1/1 | 3.1 | 3.3 |
Other gains (+) or losses (\u2013) | 0.2 | \u2013\u00a00.1 |
Fair value of plan assets as at 31/12 | 3.3 | 3.2 |
Plan assets | \u00a0 | in % |
\u00a0 | 2023 | 2024 |
Bonds | 100.0 | 100.0 |
Total | 100.0 | 100.0 |
Analysis of other personnel-related provisions | \u20acm | |||
\u00a0 | 2023 | 2024 | 2023 | 2024 |
\u00a0 | Non-current | Non-current | Current | Current |
Provision for bonuses from the performance-based remuneration system | \u2013 | \u2013 | 37.3 | 43.5 |
Provision for anniversary bonuses | 20.7 | 28.1 | \u2013 | \u2013 |
Other | 5.5 | 7.1 | 0.3 | 0.3 |
Other personnel-related provisions | 26.4 | 35.2 | 37.6 | 43.8 |
Change in other personnel-related provisions | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Carrying amount as at 1/1 | 55.3 | 64.0 |
of which non-current | 21.4 | 26.4 |
of which current | 33.9 | 37.6 |
New provisions | 33.8 | 43.8 |
Interest accrued | 0.8 | 0.9 |
Appropriation | \u2013\u00a023.6 | \u2013\u00a029.5 |
Reversal | \u2013\u00a02.3 | \u2013\u00a00.2 |
Carrying amount as at 31/12 | 64.0 | 79.0 |
of which non-current | 26.4 | 35.2 |
of which current | 37.6 | 43.8 |
Change in other provisions 2024 | \u20acm | ||
\u00a0 | Dismantling and decontamin- ation costs | Other | Total |
Carrying amount as at 1/1/2024 | 35.3 | 44.3 | 79.6 |
of which non-current | 32.4 | 7.2 | 39.6 |
of which current | 2.9 | 37.1 | 40.0 |
Change in the scope of consolidation | 0.7 | 0.0 | 0.7 |
New provisions | 7.4 | 10.8 | 18.2 |
Interest accrued | 1.0 | 0.9 | 1.9 |
Appropriation | \u2013\u00a04.2 | \u2013\u00a014.3 | \u2013\u00a018.4 |
Reversal | \u2013\u00a00.6 | \u2013\u00a07.7 | \u2013\u00a08.3 |
Carrying amount as at 31/12/2024 | 39.7 | 34.0 | 73.7 |
of which non-current | 38.2 | 16.8 | 55.1 |
of which current | 1.5 | 17.2 | 18.7 |
Change in other provisions 2023 | \u20acm | ||
\u00a0 | Dismantling and decontamin- ation costs | Other | Total |
Carrying amount as at 1/1/2023 | 29.9 | 86.1 | 116.0 |
of which non-current | 26.4 | 74.3 | 100.7 |
of which current | 3.6 | 11.8 | 15.4 |
Change in the scope of consolidation | 3.2 | 0.0 | 3.2 |
New provisions | 6.4 | 13.5 | 19.9 |
Interest accrued | \u2013\u00a02.1 | 2.3 | 0.2 |
Appropriation | \u2013\u00a00.9 | \u2013\u00a043.0 | \u2013\u00a043.9 |
Reversal | \u2013\u00a01.2 | \u2013\u00a014.6 | \u2013\u00a015.8 |
Carrying amount as at 31/12/2023 | 35.3 | 44.3 | 79.6 |
of which non-current | 32.4 | 7.2 | 39.6 |
of which current | 2.9 | 37.1 | 40.0 |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Sensitivity analysis for net pension liability 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.48% | 2.60% |
Pension increases | 0.50% | 5.35% | \u2013\u00a04.91% |
Longevity based on mortality table | 1 year | 5.27% | \u2013\u00a05.20% |
Sensitivity analysis for obligations similar to pensions 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.33% | 3.52% |
Change in contributions based on hospital cost index (new contracts) | 0.50% | 7.09% | \u2013\u00a06.41% |
Longevity based on mortality table | 1 year | 6.26% | \u2013\u00a06.03% |
Sensitivity analysis for termination benefit obligations 2024 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.69% | 1.73% |
Salary increases | 0.50% | 3.65% | \u2013\u00a03.48% |
Longevity based on mortality table | 1 year | 0.00% | 0.00% |
Sensitivity analysis for net pension liability 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in net liability of | If assumption decreases, change in net liability of |
Discount rate | 0.25% | \u2013\u00a02.38% | 2.49% |
Pension increases | 0.50% | 5.16% | \u2013\u00a04.75% |
Longevity based on mortality table | 1 year | 4.94% | \u2013\u00a04.90% |
Sensitivity analysis for obligations similar to pensions 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a03.18% | 3.35% |
Change in contributions based on hospital cost index | 0.50% | 6.79% | \u2013\u00a06.16% |
Longevity based on mortality table | 1 year | 5.91% | \u2013\u00a05.73% |
Sensitivity analysis for termination benefit obligations 2023 | \u00a0 | ||
\u00a0 | Change in assumption in percentage points or years | If assumption increases, change in obligation of | If assumption decreases, change in obligation of |
Discount rate | 0.25% | \u2013\u00a01.70% | 1.75% |
Salary increases | 0.50% | 3.70% | \u2013\u00a03.53% |
Longevity based on mortality table | 1 year | \u2013\u00a00.01% | 0.01% |
Actuarial assumptions for pension obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate or expected rate of return from plan assets | 3.75% | 3.25% |
Pension increases | 2.00%\u2013\u00a06.75% | 2.00%\u2013\u00a04.25% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover | None | none |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for obligations similar to pensions | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a05.80% | 0.00%\u2013\u00a05.80% |
Change in contributions based on hospital cost index | 2.75%\u2013\u00a06.00% | 2.50%\u2013\u00a06.00% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Actuarial assumptions for termination benefit obligations | \u00a0 | |
\u00a0 | 2023 | 2024 |
Discount rate | 3.75% | 3.00% |
Salary increases | 2.75%\u2013\u00a07.25% | 2.50%\u2013\u00a04.25% |
Employee turnover (depending on duration of employment) | 0.00%\u2013\u00a00.60% | 0.00%\u2013\u00a00.60% |
Longevity based on mortality table | AV\u00d6 2018-P/ Heubeck mortality tables 2018\u00a0G | AV\u00d6 2018-P/ Heubeck mortality tables 2018 G |
Current tax liabilities | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Taxes on income | 642.8 | 359.1 |
Other taxes | 9.0 | 8.4 |
Current tax liabilities | 651.8 | 367.4 |
Receivables from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Positive fair values | Positive fair values |
\u00a0 | \u00a0 | 31.12.2023 | 31/12/2024 |
Interest rate swaps \u2013 closed items on the balance sheet (fixed interest recipient) | $297.5m (Previous year: $286.9m) | 19.2 | 15.8 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac216.4m (Previous year: \u20ac270.3m) | 30.2 | 25.2 |
Liabilities from derivative financial instruments | \u20acm | ||
\u00a0 | Reference value1 | Negative fair values | Negative fair values |
\u00a0 | \u00a0 | 31/12/2023 | 31/12/2024 |
Interest rate swaps \u2013 hedges (fixed interest payer) | \u20ac12.9m (Previous year: \u20ac0.0m) | 0.0 | 0.1 |
Measures to reduce counterparty risk | \u00a0 |
1 | Transactions and investments are in principle only carried out with customers deemed sufficiently creditworthy (i.e. with an external investment grade rating from an international rating agency or based on an internal credit review) |
2 | Assigning individual limits to each counterparty based on the credit assessment |
3 | Group-wide monitoring of individual counterparty limits |
4 | Observing counterparty risk as a whole and risk to the customer\u2019s structural portfolio based on probabilities as published by international rating agencies |
5 | Securing sufficient collateral (e.g. advance payments, bank guarantees, letters of comfort) for transactions entered into |
6 | Reducing risk by entering into offsetting agreements (with the exception of operating activities in the regulated Grid segment, where there are some trade receivables for which the debtor does not meet the requirements due to obligations to contract) |
Financial instruments subject to credit risk by assigned rating group 2024 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables1 | Trade receivables | Investments and cash and cash equivalents2 |
A | up to Aa3 | 299.3 | 3.1 | 0.0 | 31.3 | 337.5 |
B | up to A3 | 158.8 | 1.9 | 22.1 | 165.7 | 453.2 |
C1\u2013C3 | up to Baa3 | 0.0 | 0.0 | 42.8 | 352.5 | 34.4 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 34.5 | 0.0 |
Not rated | \u00a0 | 0.0 | 172.4 | 348.5 | 281.8 | 0.0 |
Total | \u00a0 | 458.1 | 177.4 | 413.5 | 865.9 | 825.2 |
Financial instruments with credit risk by assigned rating group 2023 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s-rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables | Trade receivables | Invest-ments and cash and cash equivalents |
A | up to Aa3 | 269.7 | 0.0 | 0.0 | 82.4 | 297.6 |
B | up to A3 | 150.8 | 4.6 | 38.1 | 158.0 | 617.7 |
C1\u2013C3 | up to Baa3 | 0.0 | 1.1 | 0.0 | 435.9 | 48.7 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 18.7 | 0.0 |
Not rated | \u00a0 | 0.0 | 166.5 | 437.7 | 277.1 | 0.0 |
Total | \u00a0 | 420.5 | 172.2 | 475.8 | 972.0 | 964.0 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.03% | 0.60% | 299.4 | 0.0 | 299.4 |
B | up to A3 | 0.07% | 0.70% | 165.3 | \u2013\u00a00.1 | 165.2 |
C1\u2013C3 | up to Baa3 | 0.11% \u2013\u00a00.30% | 0.80% | 30.0 | 0.0 | 30.0 |
Loans portion of a net investment1 | \u2013 | \u2013 | \u2013 | 36.6 | 0.0 | 36.6 |
No recognition of expected credit losses2 | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,067.3 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,598.5 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.04% | 0.60% | 269.9 | \u2013\u00a00.1 | 269.8 |
B | up to A3 | 0.09% | 0.70% | 160.3 | \u2013\u00a00.1 | 160.2 |
C1\u2013C3 | up to Baa3 | 0.10% \u2013\u00a00.25% | 0.80% | 0.0 | 0.0 | 0.0 |
Loans portion of a net investment | \u2013 | \u2013 | \u2013 | 40.1 | 0.0 | 40.1 |
No recognition of expected credit losses | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,255.4 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,725.5 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 873.4 | 0.0 | 873.4 |
1\u2013\u00a030 days past due | 0% | 28.1 | 0.0 | 28.1 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.1 | \u2013\u00a00.2 | 0.9 |
> 120 days past due | 90% | 18.4 | \u2013\u00a015.4 | 3.0 |
Total | \u00a0 | 921.0 | \u2013\u00a015.6 | 905.4 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 998.4 | 0.0 | 998.4 |
1\u2013\u00a030 days past due | 0% | 25.2 | 0.0 | 25.2 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.9 | \u2013\u00a00.4 | 1.5 |
> 120 days past due | 90% | 15.8 | \u2013\u00a012.1 | 3.8 |
Total | \u00a0 | 1,041.3 | \u2013\u00a012.5 | 1,028.8 |
Financial instruments subject to credit risk by assigned rating group\u00a0 | \u00a0 | \u20acm | |
\u00a0 | \u00a0 | 2023 | 2024 |
Credit rating group | Equiva- lent Moody\u2019s-rating | Derivatives in the energy area | Derivatives in the energy area |
A | up to Aa3 | 109.9 | 0.1 |
B | up to A3 | 286.3 | 123.1 |
C1\u2013C3 | up to Baa3 | 1,147.9 | 247.7 |
D1\u2013D5 | below Baa3 | 19.2 | 8.0 |
Total | \u00a0 | 1,563.3 | 378.8 |
Sales and procurement (cash flow hedges) as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 253.6 | 177.6 | 76.0 |
Forwards | 152.1 | 42.6 | 109.5 |
Total before netting | 405.7 | 220.2 | 185.5 |
of which current | 393.4 | 204.9 | 188.5 |
of which non-current | 12.3 | 15.3 | \u2013\u00a03.0 |
of which in other comprehensive income | \u00a0 | \u00a0 | 185.5 |
Wholesale as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 227.7 | 313.7 | \u2013\u00a086.1 |
Forwards | 454.1 | 424.9 | 29.2 |
Total before netting | 681.8 | 738.7 | \u2013\u00a056.9 |
of which current | 573.4 | 544.1 | 29.4 |
of which non-current | 108.4 | 194.6 | \u2013\u00a086.2 |
Futures already realised | 187.9 | 124.9 | 62.9 |
Total | \u00a0 | \u00a0 | 6.1 |
Trading as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 12.2 | 12.8 | \u2013\u00a00.6 |
Forwards | 115.7 | 116.7 | \u2013\u00a01.0 |
Total before netting | 127.8 | 129.5 | \u2013\u00a01.7 |
of which current | 89.1 | 90.7 | \u2013\u00a01.7 |
of which non-current | 38.8 | 38.8 | 0.0 |
Total as at 31/12/2024 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 493.4 | 504.2 | \u2013\u00a010.8 |
Forwards | 721.9 | 584.2 | 137.7 |
Total before netting | 1,215.3 | 1,088.4 | 127.0 |
Including netting agreements | \u2013\u00a0847.3 | \u2013\u00a0847.3 | 0.0 |
Total after netting | 368.0 | 241.0 | 127.0 |
EEX/ECX clearing variation margins for futures | 10.8 | 0.0 | 10.8 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 378.8 | 241.0 | 137.8 |
of which current | 329.8 | 102.9 | 226.9 |
of which non-current | 49.0 | 138.1 | \u2013\u00a089.1 |
Sales and procurement (cash flow hedges) as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 723.4 | 366.9 | 356.5 |
Forwards | 369.3 | 39.0 | 330.3 |
Total before netting | 1,092.7 | 405.9 | 686.8 |
of which current | 939.7 | 388.3 | 551.5 |
of which non-current | 152.9 | 17.6 | 135.3 |
of which in other comprehensive income | \u00a0 | \u00a0 | 686.8 |
Wholesale as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 671.5 | 999.8 | \u2013\u00a0328.3 |
Forwards | 1,707.6 | 838.8 | 868.8 |
Total before netting | 2,379.2 | 1,838.6 | 540.6 |
of which current | 1,984.7 | 1,604.0 | 380.7 |
of which non-current | 394.5 | 234.6 | 159.9 |
Futures already realised | 840.9 | 1,219.5 | \u2013\u00a0378.6 |
Total | \u00a0 | \u00a0 | 162.0 |
Trading as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 21.9 | 23.0 | \u2013\u00a01.0 |
Forwards | 300.8 | 295.0 | 5.8 |
Total before netting | 322.7 | 318.0 | 4.8 |
of which current | 280.6 | 275.6 | 5.1 |
of which non-current | 42.1 | 42.4 | \u2013\u00a00.3 |
Total as at 31/12/2023 | \u20acm | ||
\u00a0 | Positive fair values | Negative fair values | Net |
Futures | 1,416.9 | 1,389.7 | 27.2 |
Forwards | 2,377.7 | 1,172.8 | 1,204.9 |
Total before netting | 3,794.5 | 2,562.5 | 1,232.1 |
Including netting agreements | \u2013\u00a02,199.3 | \u2013\u00a02,199.3 | 0.0 |
Total after netting | 1,595.3 | 363.2 | 1,232.1 |
EEX/ECX clearing variation margins for futures | \u2013\u00a031.9 | 0.0 | \u2013\u00a031.9 |
Recognised in either receivables from derivative financial instruments or liabilities from derivative financial instruments | 1,563.3 | 363.2 | 1,200.1 |
of which current | 1,207.2 | 302.4 | 904.8 |
of which non-current | 356.2 | 60.9 | 295.3 |
Sensitivity: market price fluctuation of +\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | \u2013\u00a025.1 | \u2013\u00a019.5 |
Effect on equity (revaluation reserve from cash flow hedges) | \u2013\u00a0183.9 | \u2013\u00a0171.5 |
\u00a0 | \u00a0 | \u00a0 |
Sensitivity: market price fluctuation of \u2013\u00a010% | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Effect on operating result (wholesale and trading portfolio) | 25.1 | 19.5 |
Effect on equity (revaluation reserve from cash flow hedges) | 183.9 | 171.5 |
Measures to reduce counterparty risk | \u00a0 |
1 | Transactions and investments are in principle only carried out with customers deemed sufficiently creditworthy (i.e. with an external investment grade rating from an international rating agency or based on an internal credit review) |
2 | Assigning individual limits to each counterparty based on the credit assessment |
3 | Group-wide monitoring of individual counterparty limits |
4 | Observing counterparty risk as a whole and risk to the customer\u2019s structural portfolio based on probabilities as published by international rating agencies |
5 | Securing sufficient collateral (e.g. advance payments, bank guarantees, letters of comfort) for transactions entered into |
6 | Reducing risk by entering into offsetting agreements (with the exception of operating activities in the regulated Grid segment, where there are some trade receivables for which the debtor does not meet the requirements due to obligations to contract) |
Financial instruments subject to credit risk by assigned rating group 2024 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables1 | Trade receivables | Investments and cash and cash equivalents2 |
A | up to Aa3 | 299.3 | 3.1 | 0.0 | 31.3 | 337.5 |
B | up to A3 | 158.8 | 1.9 | 22.1 | 165.7 | 453.2 |
C1\u2013C3 | up to Baa3 | 0.0 | 0.0 | 42.8 | 352.5 | 34.4 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 34.5 | 0.0 |
Not rated | \u00a0 | 0.0 | 172.4 | 348.5 | 281.8 | 0.0 |
Total | \u00a0 | 458.1 | 177.4 | 413.5 | 865.9 | 825.2 |
Financial instruments with credit risk by assigned rating group 2023 | \u20acm | |||||
Credit rating group | Equivalent Moody\u2019s-rating | Financial instruments \u2013 closed items on the balance sheet | Securities | Non-current and current other recei- vables | Trade receivables | Invest-ments and cash and cash equivalents |
A | up to Aa3 | 269.7 | 0.0 | 0.0 | 82.4 | 297.6 |
B | up to A3 | 150.8 | 4.6 | 38.1 | 158.0 | 617.7 |
C1\u2013C3 | up to Baa3 | 0.0 | 1.1 | 0.0 | 435.9 | 48.7 |
D1\u2013D5 | below Baa3 | 0.0 | 0.0 | 0.0 | 18.7 | 0.0 |
Not rated | \u00a0 | 0.0 | 166.5 | 437.7 | 277.1 | 0.0 |
Total | \u00a0 | 420.5 | 172.2 | 475.8 | 972.0 | 964.0 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.03% | 0.60% | 299.4 | 0.0 | 299.4 |
B | up to A3 | 0.07% | 0.70% | 165.3 | \u2013\u00a00.1 | 165.2 |
C1\u2013C3 | up to Baa3 | 0.11% \u2013\u00a00.30% | 0.80% | 30.0 | 0.0 | 30.0 |
Loans portion of a net investment1 | \u2013 | \u2013 | \u2013 | 36.6 | 0.0 | 36.6 |
No recognition of expected credit losses2 | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,067.3 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,598.5 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.04% | 0.60% | 269.9 | \u2013\u00a00.1 | 269.8 |
B | up to A3 | 0.09% | 0.70% | 160.3 | \u2013\u00a00.1 | 160.2 |
C1\u2013C3 | up to Baa3 | 0.10% \u2013\u00a00.25% | 0.80% | 0.0 | 0.0 | 0.0 |
Loans portion of a net investment | \u2013 | \u2013 | \u2013 | 40.1 | 0.0 | 40.1 |
No recognition of expected credit losses | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,255.4 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,725.5 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 873.4 | 0.0 | 873.4 |
1\u2013\u00a030 days past due | 0% | 28.1 | 0.0 | 28.1 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.1 | \u2013\u00a00.2 | 0.9 |
> 120 days past due | 90% | 18.4 | \u2013\u00a015.4 | 3.0 |
Total | \u00a0 | 921.0 | \u2013\u00a015.6 | 905.4 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 998.4 | 0.0 | 998.4 |
1\u2013\u00a030 days past due | 0% | 25.2 | 0.0 | 25.2 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.9 | \u2013\u00a00.4 | 1.5 |
> 120 days past due | 90% | 15.8 | \u2013\u00a012.1 | 3.8 |
Total | \u00a0 | 1,041.3 | \u2013\u00a012.5 | 1,028.8 |
Financial instruments subject to credit risk by assigned rating group\u00a0 | \u00a0 | \u20acm | |
\u00a0 | \u00a0 | 2023 | 2024 |
Credit rating group | Equiva- lent Moody\u2019s-rating | Derivatives in the energy area | Derivatives in the energy area |
A | up to Aa3 | 109.9 | 0.1 |
B | up to A3 | 286.3 | 123.1 |
C1\u2013C3 | up to Baa3 | 1,147.9 | 247.7 |
D1\u2013D5 | below Baa3 | 19.2 | 8.0 |
Total | \u00a0 | 1,563.3 | 378.8 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.03% | 0.60% | 299.4 | 0.0 | 299.4 |
B | up to A3 | 0.07% | 0.70% | 165.3 | \u2013\u00a00.1 | 165.2 |
C1\u2013C3 | up to Baa3 | 0.11% \u2013\u00a00.30% | 0.80% | 30.0 | 0.0 | 30.0 |
Loans portion of a net investment1 | \u2013 | \u2013 | \u2013 | 36.6 | 0.0 | 36.6 |
No recognition of expected credit losses2 | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,067.3 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,598.5 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Equiva- lent Moody\u2019s-rating | Proba-bility of default | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
A | up to Aa3 | 0.04% | 0.60% | 269.9 | \u2013\u00a00.1 | 269.8 |
B | up to A3 | 0.09% | 0.70% | 160.3 | \u2013\u00a00.1 | 160.2 |
C1\u2013C3 | up to Baa3 | 0.10% \u2013\u00a00.25% | 0.80% | 0.0 | 0.0 | 0.0 |
Loans portion of a net investment | \u2013 | \u2013 | \u2013 | 40.1 | 0.0 | 40.1 |
No recognition of expected credit losses | \u2013 | \u2013 | \u2013 | \u2013 | \u2013 | 1,255.4 |
Total | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | 1,725.5 |
Expected credit losses 2024 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 873.4 | 0.0 | 873.4 |
1\u2013\u00a030 days past due | 0% | 28.1 | 0.0 | 28.1 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.1 | \u2013\u00a00.2 | 0.9 |
> 120 days past due | 90% | 18.4 | \u2013\u00a015.4 | 3.0 |
Total | \u00a0 | 921.0 | \u2013\u00a015.6 | 905.4 |
Expected credit losses 2023 | \u00a0 | \u00a0 | \u00a0 | \u20acm |
\u00a0 | Loss ratio | Gross carrying amount | Valuation allowance | Net carrying amount |
Not past due | 0% | 998.4 | 0.0 | 998.4 |
1\u2013\u00a030 days past due | 0% | 25.2 | 0.0 | 25.2 |
31\u2013\u00a0120 days past due | 10\u2013\u00a050% | 1.9 | \u2013\u00a00.4 | 1.5 |
> 120 days past due | 90% | 15.8 | \u2013\u00a012.1 | 3.8 |
Total | \u00a0 | 1,041.3 | \u2013\u00a012.5 | 1,028.8 |
Net debt/EBITDA | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Net debt | 1,758.7 | 1,976.7 |
EBITDA | 4,490.5 | 3,480.3 |
Net debt/EBITDA | 0.4 | 0.6 |
Free cashflow after dividends | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Cash flow from operating activities | 5,083.0 | 3,248.6 |
Cash flow from investing activities, excluding cash inflows and outflows for capital expenditure and disposals under Investments | \u2013\u00a01,431.3 | \u2013\u00a01,169.8 |
Free cash flow before dividends | 3,651.6 | 2,078.8 |
Dividends paid | \u2013\u00a01,553.6 | \u2013\u00a01,934.0 |
Free cashflow after dividends | 2,098.1 | 144.8 |
ROCE of unregulated business segments | \u20acm | |
\u00a0 | 2023 | 2024 |
Net operating profit after taxes (NOPAT) of unregulated business segments | 2,549.8 | 2,128.0 |
WACC of unregulated business segments | 8,251.1 | 7,504.0 |
ROCE of unregulated business segments | 30.9% | 28.4% |
Derivation of NOPAT (unregulated business segments) | \u20acm | |
\u00a0 | 2023 | 2024 |
EBITDA (unregulated) | 3,815.8 | 3,014.5 |
Depreciation and amortisation (unregulated) | \u2013\u00a0314.9 | \u2013\u00a0315.2 |
Impairment losses and reversals of impairment losses (unregulated) | \u2013\u00a0273.1 | \u2013\u00a045.4 |
Result from equity interests (unregulated) | 78.4 | 112.6 |
Other financial result (unregulated) | 32.6 | \u2013\u00a017.7 |
Taxes on net operating profit before taxes (unregulated) | \u2013\u00a0789.1 | \u2013\u00a0620.7 |
NOPAT of unregulated business segments | 2,549.8 | 2,128.0 |
Derivation of capital employed (unregulated business segments) | \u20acm | |
\u00a0 | 2023 | 2024 |
Non-current assets (unregulated) | 8,808.0 | 8,485.9 |
Working capital (unregulated) | 318.5 | 462.1 |
Non-interest-bearing liabilities (unregulated) | \u2013\u00a01,743.9 | \u2013\u00a01,322.7 |
Capital employed of unregulated business segments | 7,382.7 | 7,625.3 |
Derivation of net debt | \u20acm | |
\u00a0 | 2023 | 2024 |
Financial liabilities not including closed items on the balance sheet | 1,987.3 | 1,817.0 |
Interest-bearing provisions | 571.9 | 623.3 |
Other interest-bearing liabilities | 386.2 | 566.4 |
Liquid financial assets | \u2013\u00a01,186.9 | \u2013\u00a01,030.0 |
Net debt | 1,758.7 | 1,976.7 |
Reconciliation of the reported Group result to the adjusted Group result | \u20acm | |
\u00a0 | 2023 | 2024 |
Reported Group result | 2,266.1 | 1,875.3 |
Change in value of Gas Connect Austria GmbH1 | 22.4 | 67.7 |
Change in value of Mellach combined cycle power plant (net of investment grants) 1 | 47.9 | 50.9 |
Measurement of obligation to return Donaukraftwerk Jochenstein1 | \u2013\u00a01.1 | 40.9 |
Change in value of CGUs in the Spain photovoltaics portfolio | 25.0 | 8.3 |
Change in value of CGUs in the Spain renewables portfolio \u2013 existing projects1 | \u2013\u00a023.2 | 5.4 |
Change in a profit participation right with respect to material assets1 | \u2013\u00a03.8 | \u2013\u00a05.1 |
Change in value Trans Austria Gasleitung GmbH1 | \u2013\u00a05.5 | \u2013\u00a05.3 |
Change in value of CGUs in the Spain wind portfolio | 54.0 | \u2013\u00a011.6 |
Change in value of CGUs in the Spain renewables portfolio \u2013 development projects1 | 153.9 | \u2013\u00a048.4 |
Other1 | 12.4 | \u2013\u00a02.6 |
Goodwill impairment \u2013 Spain renewables portfolio | 78.4 | 0.0 |
Change in value of Ashta Beteiligungsverwaltung GmbH | \u2013\u00a010.7 | 0.0 |
Total adjustments | 349.7 | 100.2 |
Adjusted Group result | 2,615.8 | 1,975.5 |
Purchase commitments for property, plant and equipment and intangible assets as well as other commitments as at 31/12/2024 | \u20acm | ||
\u00a0 | 2025 | 2026\u20132029 | From 2030 |
Total commitment | 1,359.5 | 1,162.0 | 146.6 |
Purchase commitments for property, plant and equipment and intangible assets as well as other commitments as at 31/12/2023\u00a0 | \u20acm | ||
\u00a0 | 2024 | 2025 \u2011 2028 | from 2029 |
Total commitment | 1,134.2 | 652.2 | 71.6 |
Purchase commitments for property, plant and equipment and intangible assets as well as other commitments as at 31/12/2024 | \u20acm | ||
\u00a0 | 2025 | 2026\u20132029 | From 2030 |
Total commitment | 1,359.5 | 1,162.0 | 146.6 |
Purchase commitments for property, plant and equipment and intangible assets as well as other commitments as at 31/12/2023\u00a0 | \u20acm | ||
\u00a0 | 2024 | 2025 \u2011 2028 | from 2029 |
Total commitment | 1,134.2 | 652.2 | 71.6 |
Average number of employees | \u00a0 | \u00a0 | \u00a0 |
\u00a0 | 2023 | 2024 | Change |
Salaried employees | 3,628 | 3,977 | 349 |
Apprentices | 176 | 172 | \u2013\u00a04 |
Average number of employees1 | 3,804 | 4,149 | 345 |
Expenses for services provided by the Group auditor | \u20ack | |
\u00a0 | Ernst & Young | Ernst & Young |
\u00a0 | 2023 | 2024 |
Audit services relating to consolidated and separate financial statements | 691.6 | 863.7 |
Other assurance services | 210.7 | 677.0 |
Other advisory services | 76.1 | 81.6 |
Total expenses | 978.3 | 1,622.3 |
Transactions with joint ventures | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Income statement | \u00a0 | \u00a0 |
Other revenue | 0.5 | 1.9 |
Expenses for electricity, grid, gas and certificate procurement | \u2013\u00a01.9 | \u2013\u00a00.2 |
Fuel expenses and other usage-/ revenue-dependent expenses | \u2013\u00a02.8 | \u2013\u00a00.7 |
Interest income | 0.9 | 0.8 |
Interest expenses | \u2013\u00a00.5 | \u2013\u00a00.8 |
Other financial result | 0.6 | 0.6 |
Transactions with joint ventures | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
Balance sheet | \u00a0 | \u00a0 |
Investments and non-current other receivables | 36.6 | 33.1 |
Trade receivables, other receivables and securities | 3.6 | 3.6 |
Trade payables and other liabilities | 22.5 | 22.2 |
Transactions with associates | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
Income statement | \u00a0 | \u00a0 |
Electricity revenue | 162.9 | 118.8 |
Grid revenue | 57.7 | 41.4 |
Other revenue | 9.0 | 22.6 |
Expenses for electricity, grid, gas and certificate procurement | \u2013\u00a0288.1 | \u2013\u00a070.2 |
Other operating expenses | \u2013\u00a039.0 | \u2013\u00a017.3 |
Transactions with associates | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
Balance sheet | \u00a0 | \u00a0 |
Investments and other non-current receivables | 28.7 | 42.8 |
Trade receivables, other receivables and securities | 22.5 | 16.5 |
Contributions to building costs | 264.7 | 259.4 |
Current remuneration of the Executive Board (incl. variable remuneration) | \u20ac | |||
\u00a0 | 2023 | 2024 | ||
\u00a0 | Fixed remuneration | Variable remuneration | Fixed remuneration | Variable remuneration |
Dr. Michael Strugl | 750,000 | 826,750 | 765,000 | 1,035,000 |
Dr. Peter F. Kollmann | 620,000 | 713,000 | 651,000 | 855,600 |
Dr. Achim Kaspar | 475,000 | 546,250 | 485,000 | 655,500 |
Dr. Susanna Zapreva | \u2013 | \u2013 | 485,000 | \u2013\u00a0 |
Short-term remuneration \u2013 Short-Term Incentive (STI) | ||
\u00a0 | 2023 STI | 2024 STI |
Assessment period | 1 year | 1 year |
Target amount | 60% of annual gross basic salary | 60% of annual gross basic salary |
Target achievement cap | 100%, whereby 20% of any outperformance of non-financial targets may be credited to the remaining non-financial targets | 150%, no credit for outperformance |
Payout cap | 60% of annual gross basic salary | 90% of annual gross basic salary |
Long-term remuneration \u2013 Long-Term Incentive (LTI)\u00a0 | ||
\u00a0 | 2021 LTI, 2022 LTI, 2023 LTI | 2024 LTI |
Assessment period | 3 years | 4 years |
Amount allocated | 65% of annual gross basic salary | 90% of annual gross basic salary |
Target achievement cap | 100%, outperformance of up to 120% of the target is possible | 150% |
Payout cap | 78% of annual gross basic salary | 135% of annual gross basic salary |
Short-term remuneration \u2013 Short-Term Incentive (STI) | ||
Assessment period | Criteria | Weighting |
Short-term remuneration \u2013 2023 Short-Term Incentive (STI) | Financial targets | 70% |
2023 Group result | 70% | |
Non-financial targets | 30% | |
Occupational safety | 10% | |
Culture and transformation | 10% | |
Diversity | 10% | |
Short-term remuneration \u2013 2024 Short-Term Incentive (STI) | Financial targets | 70% |
2024 Group result | 70% | |
Non-financial targets | 30% | |
Occupational safety | 10% | |
Culture and transformation | 10% | |
Diversity | 10% | |
Long-term remuneration \u2013 Long-Term Incentive (LTI) | ||
Assessment period | Criteria | Weighting |
LTI 2021 (term until 2023) | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Overhead costs | 35% | |
LTI 2022 (term until 2024) | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Sustainability performance targets | 35% | |
LTI 2023 (term until 2025)\u00a0 | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Sustainability performance targets | 35% | |
LTI 2024 (term until 2027)\u00a0 | Relative total shareholder return | 30% |
Free cash flow before dividends | 40% | |
Sustainability performance targets | 30% | |
Subsidiaries with material non-controlling interests: statement of comprehensive income | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 2023 | \u00a0 | \u00a0 | 2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Amounts held as non-controlling interests | 15.94% | 49.00% | 29.73% | 15.94% | 49.00% | 29.73% |
Revenue | 3,392.1 | 324.0 | 424.9 | 2,714.0 | 183.8 | 279.0 |
Profit for the period | 2,175.1 | 77.2 | 262.6 | 1,632.8 | \u2013\u00a093.9 | 157.9 |
Profit for the period attributable to non-controlling interests | 345.3 | 40.5 | 78.1 | 260.2 | \u2013\u00a047.2 | 47.0 |
\u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
Other comprehensive income | \u2013\u00a010.4 | \u2013\u00a02.0 | 0.5 | \u2013\u00a017.7 | \u2013\u00a01.1 | \u2013\u00a01.1 |
Total comprehensive income for the period | 2,164.8 | 75.2 | 263.1 | 1,615.1 | \u2013\u00a095.1 | 156.8 |
Total profit or loss for the period attributable to non-controlling interests | 345.1 | 36.8 | 78.2 | 257.4 | \u2013\u00a046.6 | 46.6 |
Subsidiaries with material non-controlling interests: balance sheet | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 31/12/2023 | \u00a0 | \u00a0 | 31/12/2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Non-current assets | 5,158.7 | 695.9 | 941.3 | 5,389.8 | 544.4 | 930.5 |
Current assets | 1,550.7 | 154.1 | 315.2 | 902.7 | 65.1 | 172.6 |
Non-current liabilities | \u2013\u00a01,671.3 | \u2013\u00a079.8 | \u2013\u00a0137.6 | \u2013\u00a01,649.3 | \u2013\u00a0299.1 | \u2013\u00a0182.2 |
Current liabilities | \u2013\u00a0472.3 | \u2013\u00a0389.6 | \u2013\u00a055.2 | \u2013\u00a0351.5 | \u2013\u00a064.5 | \u2013\u00a044.6 |
Net assets | 4,565.8 | 380.5 | 1,063.7 | 4,291.7 | 245.9 | 876.3 |
Amounts held as non-controlling interests | 15.94% | 49.00% | 29.73% | 15.94% | 49.00% | 29.73% |
Net assets attributable to non-controlling interests | 727.8 | 186.4 | 316.3 | 684.1 | 120.5 | 260.5 |
Subsidiaries with material non-controlling interests: cash flows | \u20acm | |||||
\u00a0 | \u00a0 | \u00a0 | 31/12/2023 | \u00a0 | \u00a0 | 31/12/2024 |
\u00a0 | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH | VERBUND Hydro Power GmbH | Gas Connect Austria GmbH | VERBUND Innkraft- werke GmbH |
Cash flow from operating activities | 2,326.0 | 163.2 | 359.9 | 1,747.7 | 37.0 | 224.0 |
Cash flow from investing activities | \u2013\u00a0302.7 | \u2013\u00a0142.9 | \u2013\u00a019.2 | \u2013\u00a0400.5 | \u2013\u00a034.8 | \u2013\u00a016.3 |
Cash flow from financing activities | \u2013\u00a02,023.3 | \u2013\u00a041.1 | \u2013\u00a0340.8 | \u2013\u00a01,347.2 | \u2013\u00a02.7 | \u2013\u00a0207.7 |
Change in cash and cash equivalents | 0.0 | \u2013\u00a020.8 | 0.0 | 0.0 | \u2013\u00a00.4 | 0.0 |
Dividends paid to non-controlling interests | 253.0 | 20.1 | 29.7 | 369.8 | 20.0 | 102.3 |
Material associates: statement of comprehensive income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Revenue | 2,673.4 | 1,928.9 |
Profit after tax | 432.1 | 456.3 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Profit or loss for the period attributable to VERBUND | 152.0 | 160.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Share of profit or loss from associates accounted for using the equity method | 78.2 | 100.5 |
\u00a0 | \u00a0 | \u00a0 |
Profit after tax | 432.1 | 456.3 |
Other comprehensive income | 70.2 | 4.0 |
Total comprehensive income for the period | 502.3 | 460.2 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Total comprehensive income for the period attributable to VERBUND | 176.6 | 161.8 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Total comprehensive income for the period from associates accounted for using the equity method | 102.9 | 101.9 |
Dividends received from associates | 35.2 | 80.9 |
Material associates: balance sheet | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Non-current assets | 2,319.6 | 2,428.1 |
Current assets | 1,023.8 | 1,032.1 |
Non-current liabilities | \u2013\u00a01,117.1 | \u2013\u00a01,102.2 |
Current liabilities | \u2013\u00a0689.4 | \u2013\u00a0586.5 |
Equity attributable to non-controlling interests | \u2013\u00a014.4 | \u2013\u00a018.7 |
Net assets | 1,522.5 | 1,752.8 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Net assets attributable to VERBUND | 535.4 | 616.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a0127.5 | \u2013\u00a0120.0 |
Carrying amount of associates accounted for using the equity method | 407.9 | 496.3 |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Current remuneration of the Executive Board (incl. variable remuneration) | \u20ac | |||
\u00a0 | 2023 | 2024 | ||
\u00a0 | Fixed remuneration | Variable remuneration | Fixed remuneration | Variable remuneration |
Dr. Michael Strugl | 750,000 | 826,750 | 765,000 | 1,035,000 |
Dr. Peter F. Kollmann | 620,000 | 713,000 | 651,000 | 855,600 |
Dr. Achim Kaspar | 475,000 | 546,250 | 485,000 | 655,500 |
Dr. Susanna Zapreva | \u2013 | \u2013 | 485,000 | \u2013\u00a0 |
Short-term remuneration \u2013 Short-Term Incentive (STI) | ||
\u00a0 | 2023 STI | 2024 STI |
Assessment period | 1 year | 1 year |
Target amount | 60% of annual gross basic salary | 60% of annual gross basic salary |
Target achievement cap | 100%, whereby 20% of any outperformance of non-financial targets may be credited to the remaining non-financial targets | 150%, no credit for outperformance |
Payout cap | 60% of annual gross basic salary | 90% of annual gross basic salary |
Long-term remuneration \u2013 Long-Term Incentive (LTI)\u00a0 | ||
\u00a0 | 2021 LTI, 2022 LTI, 2023 LTI | 2024 LTI |
Assessment period | 3 years | 4 years |
Amount allocated | 65% of annual gross basic salary | 90% of annual gross basic salary |
Target achievement cap | 100%, outperformance of up to 120% of the target is possible | 150% |
Payout cap | 78% of annual gross basic salary | 135% of annual gross basic salary |
Short-term remuneration \u2013 Short-Term Incentive (STI) | ||
Assessment period | Criteria | Weighting |
Short-term remuneration \u2013 2023 Short-Term Incentive (STI) | Financial targets | 70% |
2023 Group result | 70% | |
Non-financial targets | 30% | |
Occupational safety | 10% | |
Culture and transformation | 10% | |
Diversity | 10% | |
Short-term remuneration \u2013 2024 Short-Term Incentive (STI) | Financial targets | 70% |
2024 Group result | 70% | |
Non-financial targets | 30% | |
Occupational safety | 10% | |
Culture and transformation | 10% | |
Diversity | 10% | |
Long-term remuneration \u2013 Long-Term Incentive (LTI) | ||
Assessment period | Criteria | Weighting |
LTI 2021 (term until 2023) | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Overhead costs | 35% | |
LTI 2022 (term until 2024) | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Sustainability performance targets | 35% | |
LTI 2023 (term until 2025)\u00a0 | Relative total shareholder return | 30% |
Free cash flow before dividends | 35% | |
Sustainability performance targets | 35% | |
LTI 2024 (term until 2027)\u00a0 | Relative total shareholder return | 30% |
Free cash flow before dividends | 40% | |
Sustainability performance targets | 30% | |
Segment: Hydro | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH \u2013 Hydro) | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
Innwerk AG (VHP-IW) | Stamm- ham | CS | VH | 100.00% | Stamm- ham | CS | VH | 100.00% |
VERBUND Hydro Power GmbH (VHP) | Vienna | CS | VH | 80.54% | Vienna | CS | VH | 80.54% |
VERBUND Inn-kraftwerke GmbH | T\u00f6ging | CS | VH | 70.27% | T\u00f6ging | CS | VH | 70.27% |
Donaukraftwerk Jochenstein Aktiengesellschaft | Passau | CS | VH VHP-IW | 50.00% 50.00% | Passau | CS | VH VHP-IW | 50.00% 50.00% |
Grenzkraftwerke GmbH | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
\u00d6sterreichisch-Bayerische Kraftwerke Aktiengesellschaft | Simbach | CS | VH VHP-IW | 50.00% 50.00% | Simbach | CS | VH VHP-IW | 50.00% 50.00% |
Ennskraftwerke Aktiengesellschaft | Steyr | JO | VH | 50.00% | Steyr | JO | VH | 50.00% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH & Co KG | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Kraftwerk Nu\u00dfdorf Errichtungs- und Betriebs GmbH | Vienna | EM1 | VHP | 33.33% | Vienna | EM1 | VHP | 33.33% |
Ashta Beteiligungs-verwaltung GmbH (VHP-AL-HII) | Vienna | EM1 | VHP | 50.01% | Vienna | EM1 | VHP | 50.01% |
Energji Ashta Shpk | Bushat | EM1 | VHP-AL-HII | 100.00% | Bushat | EM1 | VHP-AL-HII | 100.00% |
Lestin Tauch- und Berungs-unternehmen GmbH (LESTIN) | Vienna | UC | VHP | 100.00% | Vienna | UC | VHP | 100.00% |
Murkraftwerk Graz Errichtungs- und BetriebsgmbH | Graz | UC | VHP | 25.10% | Graz | UC | VHP | 25.10% |
VERBUND Tourismus GmbH | Vienna | UC | VHP LESTIN | 99.90% 0.10% | Vienna | UC | VHP LESTIN | 99.90% 0.10% |
Manara HPP Operation Ltd. | Tel Aviv | UC | VHP | 80.00% | Tel Aviv | UC | VHP | 80.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Thermal generation | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Thermal Power GmbH (VTP GmbH) | Fernitz-Mellach | CS | VH | 100.00% | Fernitz-Mellach | CS | VH | 100.00% |
VERBUND Thermal Power GmbH & Co KG | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 | Fernitz-Mellach | CS | VH VTP GmbH | 100.00% 0.00%2 |
All other segments: Services | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent company's share of equity | Head- quarters | Consoli- dation method | Parent com-pany | Parent com-pany's share of equity |
VERBUND Services GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Business Solutions GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VH | 100.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |
Other Group companies | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 All other activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Finanzierungsservice GmbH | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Ventures GmbH (VVE) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen GmbH (VGH) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Green Hydrogen Sales GmbH | Vienna | CS | VGH | 100.00% | Vienna | CS | VGH | 100.00% |
HalloSonne GmbH (HAS) | Vienna | UC | VVE | 100.00% | Vienna | UC | VEC | 100.00% |
HalloSonne PV Finanzierungs-Holding GmbH (HAF) | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HelloSonne 1. PV Vermietungs-GmbH | Vienna | UC | HAF | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
HalloSonne Installations GmbH | Vienna | UC | HAS | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
TTTech Nexus GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VVE | 49.90% |
Material associates: statement of comprehensive income | \u00a0 | \u20acm |
\u00a0 | 2023 | 2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Revenue | 2,673.4 | 1,928.9 |
Profit after tax | 432.1 | 456.3 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Profit or loss for the period attributable to VERBUND | 152.0 | 160.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Share of profit or loss from associates accounted for using the equity method | 78.2 | 100.5 |
\u00a0 | \u00a0 | \u00a0 |
Profit after tax | 432.1 | 456.3 |
Other comprehensive income | 70.2 | 4.0 |
Total comprehensive income for the period | 502.3 | 460.2 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Total comprehensive income for the period attributable to VERBUND | 176.6 | 161.8 |
Differences due to the application of the equity method of accounting | \u2013\u00a073.8 | \u2013\u00a060.0 |
Total comprehensive income for the period from associates accounted for using the equity method | 102.9 | 101.9 |
Dividends received from associates | 35.2 | 80.9 |
Material associates: balance sheet | \u00a0 | \u20acm |
\u00a0 | 31/12/2023 | 31/12/2024 |
\u00a0 | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft | KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesell-schaft |
Non-current assets | 2,319.6 | 2,428.1 |
Current assets | 1,023.8 | 1,032.1 |
Non-current liabilities | \u2013\u00a01,117.1 | \u2013\u00a01,102.2 |
Current liabilities | \u2013\u00a0689.4 | \u2013\u00a0586.5 |
Equity attributable to non-controlling interests | \u2013\u00a014.4 | \u2013\u00a018.7 |
Net assets | 1,522.5 | 1,752.8 |
Ownership interest of VERBUND | 35.17% | 35.17% |
Net assets attributable to VERBUND | 535.4 | 616.4 |
Differences due to the application of the equity method of accounting | \u2013\u00a0127.5 | \u2013\u00a0120.0 |
Carrying amount of associates accounted for using the equity method | 407.9 | 496.3 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND Green Power GmbH (VGP) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Wind Power Austria GmbH (VRP-AT) | Vienna | CS | VHP | 100.00% | Vienna | CS | VHP | 100.00% |
VERBUND Green Power Deutschland GmbH (VGP-DE) | W\u00f6rr- stadt | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
VERBUND Green Power \u00d6sterreich GmbH (VGP-AT) | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | CS | VGP | 100.00% |
VERBUND Green Power Iberia, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Wind Power Romania SRL | Bucha-rest | CS | VGP | 100.00% | Bucha- rest | CS | VGP | 100.00% |
Infrastrukturgesell-schaft Bischheim GmbH & Co. KG | W\u00f6rr- stadt | CS | VGP | 80.60% | W\u00f6rr- stadt | CS | VGP | 80.60% |
VERBUND Green Power Deutschland Photovoltaik GmbH | Berlin | CS | VGP | 100.00% | Berlin | CS | VGP | 100.00% |
Watt Development SPV 5 S.L.U. (VGP-IB-IL1) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 6 S.L.U. (VGP-IB-IL2) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Watt Development SPV 7 S.L.U. (VGP-IB-IL3) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Ayamonte S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Buseco S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico El Barroso S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Parque E\u00f3lico Loma de los Pinos S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Lusitania Renovables S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Anselma Issuer, S.A.U. (VGP-IB-ANI) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Topacio Energy, S.L.U. | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Catalpa Solar, S.L.U. (VGP-IB-CAS) | Madrid | CS | VH | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Tejo Solar, S.L.U. (VGP-IB-TES) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
VERBUND Green Power Renewable Projects, S.L.U. (VGP-IB-GRP) | Madrid | CS | VH | 100.00% | Madrid | CS | VH | 100.00% |
Sica Desarrollos Cuerva, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Los Navalmorales, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Albarreal, S.L.U. | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
Sica Desarrollos Totan\u00e9s, S.L.U. (VGP-IB-SDT) | Madrid | CS | VGP-IB-ANI | 100.00% | Madrid | CS | VGP-IB-ANI | 100.00% |
VERBUND Windpark M\u00fcnster GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Quelkhorn GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Mariengarten GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
VERBUND Windpark Oedelum GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Scheller-ten | CS | VGP-DE | 100.00% |
VERBUND Windpark Frielendorf GmbH & Co. KG (VGP-DE-FS) | \u2013 | \u2013 | \u2013 | \u2013 | Berlin | CS | VGP-DE | 100.00% |
Blacky Energy, S.L.U. (VGP-IB-BLA) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Cyopsa-El Molino Energia E\u00f3lica, S.A.U. | Madrid | CS | VGP-IB-BLA | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
VERBUND Green Power Valderrama, S.L.U. (VGP-IB-VAL) | Madrid | CS | VGP-IB-GRP | 100.00% | \u2013 | \u2013 | \u2013 | \u2013 |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Energias Renovables de Musas, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Energias Renovables de Ofion, S.L.U. | Madrid | CS | VGP-IB-VAL | 100.00% | Madrid | CS | VGP-IB-GRP | 100.00% |
Green Power Wind Spain 1, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
Green Power Wind Marquesado, S.L.U. | Madrid | CS | VGP | 100.00% | Madrid | CS | VGP | 100.00% |
VERBUND Green Power Italia S.R.L. (VGP-IT) | Milan | CS | VGP | 100.00% | Milan | CS | VGP | 100.00% |
PV Novoli S.R.L. | Lecce | CS | VGP-IT | 100.00% | Milan | CS | VGP-IT | 100.00% |
ICA ONE S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
Tenuta del Campo S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | CS | VGP-IT | 100.00% |
PH Tambre Energy, S.L | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Amaranta Energy, s.l. | \u2013 | \u2013 | \u2013 | \u2013 | Madrid | EM1 | VGP | 50.00% |
Infraestructuras de Illora S.L. | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% | Madrid | UC | VGP-IB-IL1 VGP-IB-IL2 VGP-IB-IL3 | 20.00% 20.00% 20.00% |
Windpark Frielendorf GmbH & Co. KG | \u2013 | \u2013 | \u2013 | \u2013 | Gilser-berg | UC | VGP-DE-FS | 32.50% |
cos phi GmbH | \u2013 | \u2013 | \u2013 | \u2013 | Vienna | UC | VGP-AT | 100.00% |
DA1 S.R.L. | \u2013 | \u2013 | \u2013 | \u2013 | Milan | UC | VGP-IT | 100.00% |
Totan\u00e9s Infraestructuras Comunes, S.L. | Madrid | UC | VGP-IB-SDT | 38.89% | Madrid | UC | VGP-IB-SDT | 38.89% |
Murcia Solar Park GmbH (VGP-IB-MUR) | Berlin | UC | VGP-IB-ANI | 100.00% | Berlin | UC | VGP-IB-ANI | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Baluma Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Baviera Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Bolardo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Boyante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Braganza Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cairo Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Camareta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Carmesi Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Cenida Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Comunidad de Bienes del Huerto Solar del Hinojar, C.B. | Lorca | UC | VGP-IB-SVL | 92.72% | Lorca | UC | VGP-IB-SVL | 92.72% |
Cornamusa Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Cruceta Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Faballones Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Feanor Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Galadriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Helice Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Imai Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Koe Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Lima Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Miriel Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Mosqueton Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Nairobi Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Natera Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Obenque Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Orion Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Orla Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Panol Solar, S.L. | Madrid | UC | VGP-IB-TES | 51.00% | Madrid | UC | VGP-IB-TES | 51.00% |
Penalara Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Perdiguero Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Peregrino Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Posets Solar, S.L.U. | Madrid | UC | VGP-IB-CAS | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Radar Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Reclamo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Segment: New renewables | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Rehala Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Rotor Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Sentina Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Sextante Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stopper Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Stein Von Liebig Balears I, S.L.U. (VGP-IB-SVL) | Madrid | UC | VGP-IB-MUR | 100.00% | Madrid | UC | VGP-IB-MUR | 100.00% |
Trufa Energy, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Volateo Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
Zelanda Solar, S.L.U. | Madrid | UC | VGP-IB-GRP | 100.00% | Madrid | UC | VGP-IB-GRP | 100.00% |
Zuncho Solar, S.L.U. | Madrid | UC | VGP-IB-TES | 100.00% | Madrid | UC | VGP-IB-TES | 100.00% |
VERBUND Green Power Albania Sh.p.k. | Tirana | UC | VGP | 100.00% | Tirana | UC | VGP | 100.00% |
VERBUND Green Power Albania Wind Sh.p.k. | \u2013 | \u2013 | \u2013 | \u2013 | Tirana | UC | VGP | 100.00% |
Segment: Sales | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND AG (VH)- Sales activities | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
VERBUND Energy4Business GmbH (VEB) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Business Germany GmbH | Munich | CS | VEB | 100.00% | Munich | CS | VEB | 100.00% |
VERBUND Energy4Customers GmbH (VEC) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
VERBUND Energy4Flex GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Energy4Future GmbH | Vienna | CS | VEB | 100.00% | Vienna | CS | VEB | 100.00% |
VERBUND Engineers4Energy GmbH (formerly MSP Solarpower GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
Electriply GmbH (formerly iFix Solar GmbH) | Feld-kirchen an der Donau | CS | VEB | 100.00% | Feld-kirchen an der Donau | CS | VEB | 100.00% |
SMATRICS GmbH & Co KG (SMATRICS) | Vienna | CS | VEB | 74.90% | Vienna | CS | VEB | 74.90% |
SMATRICS EnBW GmbH | Vienna | EM | SMATRICS | 49.00% | Vienna | EM | SMATRICS | 49.00% |
E-Mobility Provider Austria GmbH | Vienna | UC | VEB | 74.90% | Vienna | UC | VEB | 74.90% |
smart Energy Services GmbH | Vienna | UC | VEC | 50.00% | Vienna | UC | VEC | 50.00% |
SOLAVOLTA Energie- und Umwelttechnik GmbH | Sankt. Margare-then im Bgld. | EM1 | VGP | 50.00\u00a0% | Sankt Margare-then im Bgld. | UC | VEC | 100,00\u00a0% |
Segment: Grid | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
Austrian Power Grid AG (APG) | Vienna | CS | VH | 100.00% | Vienna | CS | VH | 100.00% |
Gas Connect Austria GmbH (GCA) | Vienna | CS | VH | 51.00% | Vienna | CS | VH | 51.00% |
Austrian Gas Grid Management AG (AGGM) | Vienna | CS | GCA | 51.00% | Vienna | CS | GCA | 51.00% |
Trans Austria Gasleitung GmbH (TAG) | Vienna | EM | GCA | 15.53% | Vienna | EM | GCA | 15.53% |
OeMAG Abwicklungsstelle f\u00fcr \u00d6kostrom AG | Vienna | EM | APG | 24.40% | Vienna | EM | APG | 24.40% |
AGCS Gas Clearing and Settlement AG | Vienna | UC | GCA | 23.13% | Vienna | UC | GCA | 23.13% |
ASGM Austrian Strategic Gas Storage Management GmbH | Vienna | UC | AGGM | 100.00% | Vienna | UC | AGGM | 100.00% |
VUM Verfahren Umwelt Manage- ment GmbH | Klagen-furt | UC | APG | 100.00% | Klagen-furt | UC | APG | 100.00% |
Equigy B.V. | Arnhem | UC | APG | 20.00% | Arnhem | UC | APG | 20.00% |
All other segments: Equity interests | \u00a0 | |||||||
\u00a0 | 2023 | 2024 | ||||||
Company | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity | Head- quarters | Consoli- dation method | Parent company | Parent com-pany's share of equity |
VERBUND\u00a0AG (VH) \u2013 Equity interests | Vienna | CS | \u2013 | \u2013 | Vienna | CS | \u2013 | \u2013 |
KELAG-K\u00e4rntner Elektrizit\u00e4ts-Aktiengesellschaft | Klagen-furt | EM | VH | 35.17% | Klagen-furt | EM | VH | 35.17% |
C2PAT GmbH | Vienna | UC | VH | 25.00% | Vienna | UC | VH | 25.00% |