W.E.B financial year 2023: record production and earnings

New production record for the Austrian wind power pioneer | Consolidated result for 2023 increased to EUR 52.7 million | Successful capitalization measure and record earnings of 2023 used for targeted growth | 30th W.E.B anniversary and generational chang

Pfaffenschlag, March 28, 2024. WEB Windenergie AG (W.E.B) looks back on its best year in corporate history. In 2023 the company set a new production record of 1,469 GWh (2022: 1,312 GWh) and increased its consolidated result by 77% to a record EUR 52.7 million (2022: EUR 29.7 million). Production benefited from stable power plant operations, the first full operation year of numerous new plants commissioned in 2022, and the capacity expansions in 2023. All these factors combined with higher prices for directly marketed electricity led to a significant increase in sales revenue of 33% to EUR 231.8 million (2022: EUR 174.1 million).

W.E.B CFO Michael Trcka is particularly pleased with their successful year: “In 2023 we managed to cross the line of EUR 200 million in revenue for the first time. We are reinvesting the record result of 2023 in our targeted expansion, which is not only good for the climate but for consumers. After all, every new wind turbine and every new photovoltaic system reduces electricity prices in the long term. While the year 2023 presented us with an exceptional situation on the electricity market, prices are already returning to normal. Even if our results in 2024 are therefore rather unlikely to reach the previous year’s level, we are well-equipped for the future as a stable operator and innovative project developer.”

Generational change in the W.E.B Management Board

In 2024 W.E.B sounded the bell for its 30th anniversary by expanding and rejuvenating its Management Board with three top W.E.B executives: our experienced CFO Michael Trcka was joined by Stefanie Markut (Corporate Development) and Florian Müller (Project Development) on January 1, 2024. With our long-standing CEO Frank Dumeier steeping down on April 30 and Roman Prager (Operations) stepping up on May 1, W.E.B will be completing its generational change in the Management Board. Frank Dumeier on these management changes: “In my 15 years at W.E.B, including eight years as CEO, W.E.B has grown from a rough diamond into a successful international group. The implementation of our jointly developed strategy ‘Vision 2030+’ is now in the hands of my successors, who have already been driving the success of our company in key functions for many years. This change is, in other words, also characterized by great continuity.”

W.E.B heading for international growth

In 2023 W.E.B commissioned two new wind farms: Dürnkrut III with 11.2 MW and Götzendorf with 5.6 MW. In the photovoltaics segment, we added a total of four new plants with around 1.5 MWp. All new projects were connected to the grid in our home market in Austria.

Florian Müller, member of the Management Board in charge of Project Development: “2023 marked the year of construction sites, and 2024 will be the year of commissioning. We have already put the Gols wind farm in operation with around 11 MW in early 2024, and around 140 MW will be added by December, clearly pointing the way towards the energy transition.”

Stefanie Markut, member of the Management Board in charge of Corporate Development: “We currently see excellent conditions for growth. One focus of our Vision 2030+ targets the expansion of our international footprint. We strive to become a relevant player in all our countries of operation. In addition to evaluating the development of new markets, we are strengthening the autonomy and expanding the teams in our country subsidiaries in order to better react to volatile national conditions.”

W.E.B bond 2023 generates record proceeds

With a subscription amount of EUR 38 million, the latest W.E.B bond set yet another record in 2023. Our range of bond investors was expanded once again, and the number of shareholders increased by 350 to a total of 6,655 in 2023.

W.E.B CFO Michael Trcka: “The W.E.B bond we issued in 2023 outperformed all of our previous – always highly successful – capital measures by a significant margin. These record proceeds reflect not only a strong commitment to the energy transition, but also to W.E.B as part of the solution. This tremendous support encourages us to intensify our strong growth course in wind power and photovoltaics.”

W.E.B as an attractive employer

W.E.B pays particular attention to its role as an employer and always keeps an eye of such factors as employee loyalty and motivation. The company relies on a range of corresponding measures, such as further training programs, benefits, or in-house career development through internal recruitment. Board Member Stefanie Markut comments: “As many of our employees have been with W.E.B for a long time, we boast a great deal of expertise within the company. We see our success in motivated employees who carry the values of openness, respect, and reliability beyond our company boundaries. We will keep working as a team and contribute to the realization of the energy transition.”