Alpiq benefits from long-term contracts
The Alpiq Group more than doubled its operating profit in the first half of 2020 compared to the previous year. Long-term contracts had protected the company from the sharp drop in electricity prices. All three Alpiq divisions contributed to the positive development.
According to the key figures of the Alpiq Group , the Lausanne-based energy group generated net sales of 1.83 billion francs in the first half of 2020. Compared to the previous semester, this corresponds to a decrease of 18.3 percent. The operating result (EBIT) reported a loss of 70 million francs, compared to a loss of 206 million francs in the first half of 2019. The net result improved from a loss of 206 million to a loss of 84 million francs.
The operating result at the EBITDA level before special items increased from 55 million to 116 million francs year-on-year, said Alpiq in a statement on the half-year results. All three Alpiq divisions contributed to the positive operational development.
Specifically, a result of 37 million francs was achieved in Swiss electricity production, compared to a loss of 56 million francs in the previous semester. International energy trading increased its result year-on-year from CHF 53 million to CHF 58 million. In international electricity production, after 60 million francs in the previous year, a positive result of 24 million francs was achieved “despite the coal phase-out”, writes Alpiq.
The coronavirus pandemic caused electricity prices to fall sharply, especially in April and May, Alpiq said in the press release. The Lausanne group was well protected against this development due to the safeguarding of electricity production for two to three years.