W.E.B financial year 2024: Record Year for Commissionings and Power Production

Record-High Commissionings in 2024 | Electricity Production Reaches New Peak at 1,574 GWh | Stable Financial Results Despite Lower Electricity Prices | Most Successful Capital Measure in Company History Powers Targeted Growth

Pfaffenschlag, April 10, 2025 – Despite challenging market conditions, WEB Windenergie AG (W.E.B) looks back on a successful fiscal year 2024. The company connected 151.6 MW of new capacity to the grid - the highest number of project commissionings in a single year to date - raising total generation capacity to 743.1 MW (2023: 604.5 MW). As Austria’s wind power pioneer, W.E.B achieved a new production record of 1,574 GWh (2023: 1,469 GWh). Following an exceptional year 2023, revenue declined as expected due to falling electricity prices, reaching EUR 170.4 million (2023: EUR 231.8 million). Consequently, consolidated net income dropped year-over-year from EUR 52.7 million to EUR 20.3 million.

W.E.B CFO Michael Trcka remains satisfied with the results:
“After the exceptional market dynamics of 2022 and 2023, electricity prices have normalized. The 2024 results clearly demonstrate our ability to achieve stable financial performance even at lower price levels. This positions W.E.B as a reliable operator and innovative project developer well equipped for the future.”

Strong Performance in Austria, Germany, and Italy

In 2024, W.E.B connected wind and solar energy systems totaling 151.6 MW to the grid. Of this, 55.6 MW were commissioned in Austria and Germany, while 96 MW came online in Italy. The standout project is the Ariano wind farm, with a total capacity of 84 MW. As the largest wind farm in W.E.B’s portfolio to date, it supplies clean electricity to approximately 50,000 households annually.

Florian Müller, Executive Board Member for Project Development, commented: “2024 was a year of commissionings for us, and we’re continuing with full momentum in 2025. In the first few weeks of this year, two new PV systems in Lower Austria with a total capacity of 0.7 MW have already started generating electricity. In the coming months, we’ll bring an additional 40 MW of wind capacity to the grid in Austria and Germany. We’re also preparing for our Canadian project, Weavers Mountain, where equipment has been ordered for a planned capacity of 94.4 MW.”

Strategic Focus on Wind and Solar Energy

To ensure profitable growth, W.E.B is strategically focused on wind and solar energy. In 2024, the company exited the hydropower business by selling its Eberbach (Germany) and Imst (Austria) hydro plants. In return, W.E.B is increasing synergies between wind and solar, launching its first hybrid park in Grafenschlag, Lower Austria. This approach maximizes use of existing grid infrastructure and improves site efficiency. The next step will be the installation of battery storage to better respond to alternating wind and solar production periods.

Roman Prager, Executive Board Member for Operations, stated:
“Our projects are built on our core competencies in wind and solar energy. At the same time, we’re developing new solutions for optimal grid capacity usage and efficient resource management. The technology is there - we just need to use it smartly.”

Record Proceeds from 2024 W.E.B Bond

With a total subscription volume of EUR 50 million, the W.E.B Bond 2024 was the most successful bond issuance in company history. The pool of bond investors expanded once again, and the number of shareholders increased by 183, reaching 6,838 by the end of 2024.

CFO Michael Trcka remarked: “The 2024 corporate bond exceeded all our expectations. This record issuance underscores the continued trust of our investors and reinforces W.E.B’s mandate to advance the energy transition. The past few years have clearly shown that renewables are the most cost-effective form of electricity generation and that every wind turbine helps stabilize energy prices.”

W.E.B as an Attractive Employer with a Social Mission

W.E.B places strong emphasis on employee retention and motivation. The “Great Place To Work”-certified company supports its team with professional development programs, attractive benefits, and internal promotions. One example of this philosophy is the 2024 Executive Board, which was partially filled with internal leadership talent. Additionally, 69 new employees were hired externally during the year.

Stefanie Markut, Executive Board Member for Corporate Development, commented: “External hires are important to drive W.E.B’s growth. At the same time, many of our employees have been with us for years, providing a solid knowledge base for organizational development, efficient project pipeline execution, and responsible, results-oriented operations.”

In addition to its employee focus, W.E.B also embraces its broader social responsibility. The company launched the “Green Energy for All” (GE4All) initiative in 2024 to support access to affordable electricity and improve lives. In Austria, W.E.B is planning and constructing a PV system for the emergency shelter operated by VinziWerke in Graz, expected to be commissioned in summer 2025. In Tanzania, W.E.B is supporting the planning and implementation of PV systems and storage solutions at 16 rural health centers.