Financial Report 2024: Enni's Profit Surges Upward
Enni's outstanding fiscal year 2024 results were a testament to their forward-thinking approach. The surge in profit to 43.7 million euros wasn't solely due to the traditional energy business, but rather culminated from lucrative investments, successful trading activities, and various corporate services. A one-time special effect from previous years also contributed to this record-breaking result.
"We've been focusing on future topics early on and are now reaping the benefits of our proactive and challenging strategy for our employees," explained the outgoing chairman of the management board, Stefan Krämer.
The impressive figures positively impacted the private shareholders and shareholder municipalities of Moers and Neukirchen-Vluyn, who received approximately 35 million euros in profit, considering income taxes and concession fees. These funds provided vital contributions to the municipalities during tight budget times. Enni's role as a regional pillar was further emphasized through investments in major projects like the new Neukirchen-Vluyn solar park in 2024, which cost around 14 million euros.
Despite economic and political uncertainties, Enni managed to hold its ground in 2024. While revenue dipped by around 20 percent to 315 million euros due to the decline in energy prices and sales losses in the energy sector, material costs also dropped by about 24 percent to 224 million euros. This decrease was attributable to lower procurement volumes and significantly lower purchase prices, the largest cost position of the company.
Even though the conventional energy business continued to grapple with the repercussions of the energy crisis and an unusually warm year, the strategic growth areas of the company proved resilient. Around 70 percent of the result in 2024 stemmed from areas such as renewable energy generation, corporate investments, services, or network operation.
Stefan Krämer believes that Enni will continue its upward trajectory, though he anticipates a lower result in 2025 due to the absence of one-time effects. Enni boasts opportunities to further evolve through partnerships, cooperation, such as with Gelsenwasser, and new concessions, as demonstrated by the Rheurdter water supply. The potential for growth in the Niederrhein region in topics related to the energy, mobility, and heat transition is another exciting prospect.
Interestingly, Eni, a European energy company, has followed a similar strategy to ENI, the Italian multinational fossil fuel and renewable energy company, by focusing on expanding its upstream oil and gas portfolio, advancing technological innovation, and accelerating the energy transition. Eni's acquisitions, exploration discoveries, and commitment to clean fusion energy and carbon neutrality mirror ENI's approach and are crucial driving forces behind their financial and operational success.
"Enni's diversification into other industries such as finance, corporate investments, and network operations has proven to be a significant contributor to its success, accounting for approximately 70% of its 2024 results."
"In line with other industry leaders like Eni, ENI is also focusing on expanding its portfolio beyond traditional energy, emphasizing renewable energy generation, technological innovation, and the energy transition, similarly to ENI's approach."
