Romande Energie Holding SA

REHN

Equity

ISIN CH1263676327 / Valor 126367632

SIX Swiss Exchange (2024-12-23)

CHF 42.30+0.71%

Romande Energie Holding SA
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About company

Romande Energie Holding SA is a parent company that oversees the strategic direction and management of its subsidiaries and investments in associates. One of its key subsidiaries, Romande Energie SA, is responsible for the power generation and distribution operations previously managed by Compagnie Vaudoise d'Electricité (CVE) and Société Romande d'Electricité (SRE). Headquartered in Morges, the company's Board of Directors, led by Guy Mustaki, includes representatives from the Vaud cantonal government, municipalities from the cantons of Vaud and Valais (Chablais region only), the business community, and private shareholders.

Summarized from source with an LLMView SourceSector: Energy

Record-breaking Revenues

Romande Energie Holding SA reported a 24% increase in revenues for the year 2023, reaching CHF 928 million compared to CHF 746 million in 2022. This growth was driven by all three business units, with Energy Solutions posting a 42% increase in revenues to CHF 540 million, Grids contributing a 17% increase to CHF 312 million, and Romande Energie Services growing by 13% to CHF 164 million.

Significant EBIT Growth

Romande Energie Holding SA achieved an operating profit (EBIT) of CHF 100 million in 2023, a 122% increase from CHF 45 million in 2022. This substantial growth was largely due to exceptionally high ex post adjustments to compensate for energy supply deficits in previous years. The Group’s EBIT margin improved to 11% from 6% in 2022.

Net Profit Surge

Romande Energie Holding SA's net profit for 2023 soared to CHF 215 million, a significant rise from CHF 41 million in 2022. This increase was primarily driven by contributions from Alpiq and EOS, which added CHF 139 million and CHF 2 million respectively to the bottom line. Without these contributions, the Group’s net profit would have been CHF 74 million.

Strong Cash Flow and Financial Position

Romande Energie Holding SA maintained a solid financial position with cash and cash equivalents of CHF 113 million as of 31 December 2023. Cash flow from operating activities before the impact of the working capital requirement reached a record CHF 185 million, up from CHF 132 million in 2022. The Group’s debt decreased by CHF 13 million to CHF 195 million by year-end.

Continued Investment in Growth

Romande Energie Holding SA continued its investment in growth, with capital expenditure reaching CHF 200 million in 2023, up from CHF 179 million in 2022. These investments were primarily directed towards grid infrastructure and renewable energy projects, including the construction of district heating networks and solar farms. The Group also inaugurated its first wind farm in the canton of Vaud.

Summarized from source with an LLMView Source

Key figures

-24.2%1Y

-22.5%3Y

-10.4%5Y

Performance

22.8%1Y

27.7%3Y

28.0%5Y

Volatility