Annual Results 2023/24 Axpo reports another successful financial year as strategy pays off

Axpo can once again look back on a successful financial year (1 October 2023 to 30 September 2024). During the reporting period, the company achieved good results and continued to make progress in the implementation of its strategy.

With the reliable delivery of more than 40 per cent of all electricity consumed in Switzerland, Axpo also made a significant contribution to a secure energy supply on the domestic market. Axpo further expanded production from renewable energy sources and reinforced its position as an international energy company that helps its customers achieve their CO2 targets.

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Key numbers in CHF millions

13151 {{ value }}

Equity

was strengthened and increased by CHF 1586 million

1848 {{ value }}

Adj. EBIT

below the previous year’s extraordinary result (CHF 2689 million)

7355 {{ value }}

Liquidity

remained stable, at a high level (CHF 7542 million)

Axpo CEO: «I am pleased that we are able once again to present strong results.»

Axpo Strategic Pillars

Energy Supply

Some highlights from the year: Axpo supplied around 40 per cent of the electricity consumed in Switzerland during the year, increased its production from nuclear power by 2 per cent and hydropower by 20 per cent, and concluded a gas supply contract with a supplier in western Switzerland. Axpo has also submitted the licence for building a new hydropower plant. Axpo's Swiss subsidiary CKW completed its roll-out of smart meters, is once again one of the suppliers with the lowest electricity prices in Switzerland, and launched an innovative tariff model which more effectively takes into account current and future electricity production and consumption.

Renewable energies

Highlights: Last year, Axpo added 214 MW of capacity in the solar sector, commissioned the largest solar car park roof in Europe at Disneyland Paris, and installed around 1,000 photovoltaic (PV) systems on roofs in Switzerland through its subsidiary CKW. In the wind power sector, Axpo added 89 MW across Europe. The company has also decided to invest in a 70 gigawatt hour (GWh) wind park in Finland and is currently examining a number of locations for wind farms in Switzerland. Axpo has also commissioned Switzerland's largest green hydrogen plant and launched biomethane projects in Portugal, Italy and Poland. Finally, Axpo commissioned its first energy storage facility in Sweden (20MW/20MWh plant).

Customer and trading business

Once again this area of the business, which primarily focuses on the supply of electricity and gas to customers, made the largest contribution to earnings during the financial year. Power purchase agreements (PPAs) remain a key factor in the customer and trading business. For example, Axpo’s partnership with Ineos Oxide, part of leading multinational chemicals company Ineos, reduced CO2 emissions from its operations in Belgium by more than 11,000 tonnes a year. In the liquified natural gas sector, Axpo imported 25 shiploads into Europe totalling 16.2 terawatt hours (TWh) of LNG, equivalent to the annual consumption of more than one million households. Finally, Axpo was named ‘Renewables Firm of the Year’ at the prestigious Energy Risk Awards and took first place in a number of key categories and markets in the Energy Risk Commodity Rankings.

All reports for download

Annual Report 2023/24 (PDF) View Send email Download
Financial Report 2023/24 (PDF) View Send email Download
Sustainability Report 2023/24 (PDF)
View Send email Download
Media Release, 05.12.2024 (PDF) View Send email Download
FAQ Annual Results 2023/24 (PDF) View Send email Download
Presentation Analyst Conference, 05.12.2024 (PDF) View Send email Download

More highlights

Axpo can look back on a successful 2023/24 financial year. In a challenging environment, its strategy paid off: the company became stronger and the outlook remains positive.