Axpo achieves exceptional half-year results
In the first six months of financial year 2022/23, the Axpo Group successfully implemented its strategy in what continued to be a challenging environment. A solid operational performance led to positive earnings contributions from all areas of the business, with international trading once again delivering excellent results. The anticipated financial benefits of market stabilisation saw a strongly positive impact on results from shifts in earnings. Funds used to hedge electricity production flowed back to the company, the balance sheet total shrank substantially, and net debt was reduced significantly. This resulted in an adjusted EBIT of CHF 2,242 million (previous year: CHF 1,303 million) and profits of CHF 3,214 million (previous year: CHF 513 million). With 14.2 terawatt hours (TWh), Axpo made the largest contribution to Switzerland’s electricity supply during the reporting period, accounting for approximately 40% of the country’s electricity consumption.