EVN AG

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to EDN's conference call for the first three quarters of 2024-2025 financial year. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to Alexandra Rittman.

Good morning, everybody, to EVN's conference call on the results for the first three quarters of our current financial year.

In a nutshell, today's results can be summarized as follows. The energy sector environment for power generation has been challenging, especially due to weak wind and water conditions, as well as lower market prices. The normalization of operational results in our energy supply business is Proceeding as planned. Financial performance during the first nine months of the financial year has been solid. While EBIT increased by 18%, group net results is down by 9%, primarily due to lower financial results resulting from Verbund's reduced dividend payout for 2024. Full-year financial performance is on track and we therefore confirm our full-year guidance. We expect good net results in a range between 400 and 440 million euros, subject to a stable regulatory and energy policy environment. We are also on track in realizing our investment program. CapEx were up by 22% at 535 million euros during the reporting period. This is in line with our plan to invest annually about 900 million euros until 2030. The key investment areas remain unchanged. So about three quarters of our capital will be made in Lower Austria in networks, renewable generation, detergent infrastructure and drinking water supplies. I would also like to highlight that that our CAPEX plan is supported by a solid project pipeline. We are therefore very confident that we will successfully deliver on our plan, which will further support organic growth, especially in the areas of renewable generation and regulated networks business. We are currently working on several new wind and solar projects, which will bring us another step closer to achieving our 2030 expansion targets. 770 MW for wind and 300 MW peak for photovoltaics. In June, we also achieved the next important milestone in our plan to divest the international project business. Together with Strabag, we finalized the transaction contract for the sale of WTE Group and signed the share purchase agreement. This was based on the key terms for the transactions which were agreed upon already in last December. We are now working on the fulfillment of the conditions precedent required for the closing of the transaction. Closing is expected within the next six months.