Energy BKW increases profit in the first half-year and raises financial targets
BKW has earned more in the first half of the current year with a slightly lower overall performance. The Bern-based energy supplier is now raising its outlook for the year as a whole.
21.08.2024, 07:23
SDA
Total operating revenue fell by 2.8 percent year-on-year to CHF 2.3 billion in the first half of 2024, as the Bern-based electricity supplier announced on Tuesday. In the energy business, sales were down 14.9 percent year-on-year to 1.1 billion Swiss francs due to the fall in electricity prices, but operating profit was maintained, according to the statement.
The grid business made a "stable contribution to earnings" with sales of CHF 340.0 million and EBIT of CHF 89.9 million. In the services business, the company increased sales by 7.2% to CHF 948.4 million, while EBIT remained at the previous year's level at CHF 24.4 million.
Overall, operating profit (EBIT) rose to 438 million after 425 million in the previous year. This corresponds to an increase of 3.1 percent. The bottom line was a 6.6 percent higher net profit of 362 million Swiss francs.
The company is now raising its EBIT forecast. This is now expected to be between 700 and 800 million for the year as a whole. Previously, the management had expected an operating profit of CHF 650 to 750 million.
