Balance sheet 2023: 1.2 billion euros in climate-friendly investments – sales decline of 15% due to lower energy prices – surplus flows back to customers directly and via Invest
Thanks to our good results, we can now lay the foundations for our city’s energy and mobility future. Our balance sheet surplus flows entirely into the further development of the city; we owe it to our customers and, above all, to future generations.
General Director Peter Weinelt
Vienna (OTS) – In 2023, Wiener Stadtwerke recorded another economically challenging and exceptional financial year with increased profits, lower sales and, above all, record investments in the future of the city. General Director Peter Weinelt and his deputy, CFO Roman Fuchs presented the 2023 balance sheet of Wiener Stadtwerke today, Thursday. The group’s sales fell by 15% to 6,224 million euros (2022: 7,306 million euros), and the annual profit rose by 54% from 494 to 762 million euros. With 1,286 million euros (2022: 1,107 million euros, +16%), the group invested more than ever in its fixed assets, of which for the first time over a billion (1,181 million euros, 2022: 983 million euros, +20%) in Climate-friendly investments such as renewable energy sources and public transport expansion.
The equity ratio also developed very positively, rising by 4.5 percentage points to 48.4%. The CAPEX ratio increased by 5.5 percentage points from 15 to 21%. The increased annual surplus comes largely from dividends (Verbund) and, in close coordination with the owner, the City of Vienna, flows back to the people of Vienna, partly directly, but above all indirectly in the form of future investments from public transport expansion to “Getting out of natural gas”.
General Director Peter Weinelt was fundamentally satisfied with the deal: “Thanks to our good results, we can now lay the foundations for our city’s energy and mobility future. Our balance sheet surplus flows entirely into the further development of the city; we owe it to our customers and, above all, to future generations.
“As the city’s most important public service provider, Wiener Stadtwerke’s focus is on affordability. Therefore, the annual surplus goes into relief and price measures. Compared to the previous financial year, Weinelt sees Wiener Stadtwerke “somewhat on the way towards normality”, but forecasts for the further development of the energy market are still hardly possible.
The company’s most important economic indicators were unusually volatile again in 2023, which is due to the development in the energy division. As in the previous year, volatile energy prices, high material costs for gas and price hedging transactions play a central role in the area of combined heat and power plants. The falling energy prices were reflected in the cost of materials and costs for purchased services, which fell from 5.1 billion euros to just under four billion euros (22%) after doubling in the previous year.
While sales in the transport sector reached pre-Corona levels and the networks also recorded a strong increase in sales, sales in energy fell by almost 1.3 billion euros. Sales in the funeral and cemeteries area remained at the previous year’s level, while those in the garage area increased by almost 10%.
More employees, more apprentices
In 2022, 16,793 people worked for the Wiener Stadtwerke Group, 765 more people (+5%) than in the previous year. Almost two thirds of the workforce work in the transport sector, with the Wiener Linien driving service in particular experiencing growth. Wien Energie has significantly strengthened its customer service team. Annually, Wiener Stadtwerke trained a total of 484 apprentices (2022: 438), 10.5% more than in the previous year. Despite all adversities, the Wiener Stadtwerke Group was able to show what it means to be a reliable infrastructure provider. The delivery promises were fulfilled, the services were maintained and the ongoing projects were pursued without restrictions – thanks to a stable economic foundation.
Plus in ticket revenue and renewable electricity generation
Very encouraging: While caloric electricity generation fell sharply in 2023 due to the low heat requirement, electricity generation from wind and water at Wien Energie increased significantly. The mild winter also caused district heating sales to fall. Wiener Linien recorded a significant increase in ticket revenue, which rose by 13.8%. In the modal split, public transport rose to 32% (2022: 30%), taking it one step closer to the pre-Corona period. In the funeral and cemeteries segment, revenue fell compared to the previous year due to lower mortality.
SERVICE: The 2023 financial report of Wiener Stadtwerke with all the figures, data and facts and two graphics on Wiener Stadtwerke’s investments can be found as a PDF at
About Wiener Stadtwerke GmbH
Wiener Stadtwerke is the most important infrastructure service provider in the greater Vienna area. As an economic engine, Austria’s largest municipal infrastructure service provider with six billion euros in sales and almost 17,000 employees is a driving force for Vienna as a business location. The group includes, among others: Wien Energie, Wiener Netze, Wiener Linien, Wiener Lokalbahnen, Wipark as well as funerals in Vienna and cemeteries in Vienna.
Questions & Contact:
Wiener Stadtwerke GmbH
Mag. Thomas Geiblinger
Group press spokesman
+43 (01) 53 123 / 73953
thomas.geiblinger@wienerstadtwerke.at
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