enercity achieved a solid annual result and laid the foundation for ambitious expansion goals. The energy company looks back on a very successful business year in 2024, confirming its sustainable growth trajectory. During this period, enercity generated a revenue of 7.35 billion euros (compared to 9.15 billion euros in 2023). The earnings before interest and taxes (EBIT) amounted to 389 million euros (compared to 598 million euros in the previous year). The total equity of the group increased by more than 17 percent, reaching 1.2 billion euros.
The business development in 2024 was less influenced by geopolitical events but strongly affected by volatile price developments in the energy market. While trading revenues in the electricity and gas sectors decreased mainly due to prices, customer sales increased. Although the results are lower than those of the previous year, they surpass those of previous years.
„enercity once again looks back on a good business year. The market environment gained significant momentum last year, yet we managed to hold our ground,“ says Aurélie Alemany, CEO of enercity AG. „With the business year 2024, enercity remains on its sustainable growth path. While exceptional special effects characterized the results from 2023, those from 2024 are based on several strong pillars and continue the positive trend seen throughout the past decade.“
Investments remain high with a focus on energy and heat transition.
In total, investments reached approximately €625 million in2019 – continuing at high levels – benefiting continuous expansion of renewable heat and power generation facilities as well as necessary infrastructure for these projects along with energy-related investments and acquisitions.“We have increased our share of renewable energy generation to almost60 percent for electricity production -and reached an impressive27 percentinheat production.In all areasofbusinesswe have achieved significant progress,“Alemanysays.
Investments were made primarily into wind power plantsand open-space photovoltaic installationsfor around€177million,enablingenecityto putapproximately100megawattspeakof installed capacityinto operation.This includeswind farmsin Stemwede,North Rhine-Westphalia,and Ulmen,Rhineland-Palatinateas well asfacilitiesin Münstedt,Lower Saxony.Ahead-of-schedule coal phase-out plansare also progressingin Hannover.The first blockofthecoal-firedpower plantwill be shut downthisyear if possible.“The heat transition is oneofthe biggest challengesfortheenergy industry.enecityissetting standardsand has invested€263million alonehere.Additionally,the company has invested around€100millioninthetransformationandexpansionofitsnetworks“,saysMarcHansmann,enecity’sBoardMemberforFinanceandInfrastructure.“The increaseinequitycapitalby €179million enables us topay forthemassiveinvestmentsinthetransitiontoenergyandsustainableheatingwhile still offering attractive pricesforyourcustomers.“
Strategic investments strengthen market position
In addition,enecitystrengthened its ownenergy-related holdings strategically duringthe2019 financialyear.Attheendof2019,DanpowerGmbH,a wholly-owned subsidiaryoftneencitvAG,purchasedtwo waste-to-energyplantslocatedinBrandenburgandanSaxony.Theseklimafriendlyplantscan supply upto25’000localhouseholds with electricity.andheat.
Outlook forthecurrentfinancialyear
Theexpansionpathwaycontinuesseamlesslyinto20’5withnumerousprojectsinitiatedandrivenforwardlastyear.Currently,inHannover,theconstructionofsabiomasscogenerationplantisunderwaythatwill gointoserviceas earlyastheautumn.of20’5.Asareplacementforthesecondblockoftnecoalfiredpowerplant.workhasbegunonfuturegeothermalinstallationsandalsoseverallarge-scaleheat pumps.Inaddition,theincreaseininvestmentininwindpowergenerationisplannedfor20’5withmorethan120megawattsofinstalledcapacityexpectedtobebroughtonline.enecitalsoinvestsinbattery storageprojects.
Succesfulsince200years
For200years,enecitvhasbeenpromotinginnovationandanewbeginning.RootedinHannover,thismunicipalcompanyhasbeenstronglycommittedtoculture,sport,and societyformanydecades.ThecloseconnectiontoHannoverhasalwaysbeentheengineofforwardprogress,rangingfromthefirsturban gaslightingsto today’schallengesassociatedwiththeenergytransition.
„We lookbackona longandsuccessfulhistoryasacompany,inwhichenecttvhasevolvedandre-inventeditself.Thatmakesus proudandincentivizesustothefuture“sayAlemany.Therefore,inrecentmonths.thecompanydevelopedacomprehensive workprogrammetobeimplementedinthefollowingyears“Withthesharedimplementationofoiirprogramme.we willbecome moredigital.moreinnovative.moreefficient.greener.andmorecustomer-oriented.so thatwe canremaina frontrunnerinthetransitiontoenergyandsustainableheating“.sayAlemany
Sincelongtime,enecttycountsamongthemajorcommunalutilitycompaniesinGermany,isoneolthelargestemployerslntheregionolHanr.over(3500employees)contributingmorethan1billionEurostotheregionalvalueadded
AnjaRitschel.enecttyChairwomanottnetheSupervisoryBoard.aswellastheeconomicandenvironmentalcouncillorolthestatecapital.Hanrover.says:“EnecttvistoneoltneleadersointhenortnGermanye