Swiss energy company Alpiq has reported strong business results for the first half of 2023 despite a drop in net revenue, with adjusted EBITDA at CHF 787 million, up from CHF 114 million in the same period of 2022.
Alpiq’s revenues decreased from about CHF 6.87 billion in H1 2022 to CHF 4.85 billion in the first half of this year, due to lower prices on energy markets, but the company was able to boost its earnings thanks to an improved operating performance and efficiency, according to an announcement by Alpiq.
Alpiq’s net income in H1 2023 was CHF 568 million
The company’s net income in H1 2023 was CHF 568 million, compared with a net loss of CHF 5 million in the first half of 2022, according to its interim report for 2023. At the end of June 2023, Alpiq’s operating liquidity stood at around CHF 1.7 billion.
Alpiq is an energy services provider and electricity producer that operates throughout Europe, including in the Southeast Europe region. The company is active in electricity trading in western and eastern Europe as well as in the cross-border electricity business and the natural gas business.
Besides hydropower, Alpiq is present in the nuclear, wind, and solar sectors
The Lausanne-based company operates run-of-river, storage, and pumped storage hydropower plants in Switzerland and Italy, and owns stakes in two Swiss nuclear power plants as well as flexible thermal power plants, wind farms, and solar power plants across Europe. It has about 1,200 employees.
Earlier this year, Alpiq agreed to sell its 72.5 MW Vetrocom wind farm in Bulgaria to Renalfa IPP, with its remaining two firms in the country set to be bought by other firms from Renalfa Group.
Yesterday, the company also announced that its head of hydropower generation, Amédée Murisier, will take over as head of the Switzerland division in March 2024, replacing Michael Wider, who is retiring at the end of February.