BAKU, Azerbaijan, December 5. Swiss energy giant Axpo increased its gross investments to CHF 509 million during the financial year from 1 October 2023 to 30 September 2024, up from CHF 475 million the previous year, Trend reports via the company.
The bulk of these investments focused on the expansion of solar and wind power infrastructure, as well as grid development, with CHF 279 million allocated within Switzerland.
Despite higher investment levels, Axpo faced a notable decline in free cash inflow, which dropped to CHF 1,099 million, compared to CHF 3,766 million in the previous year. This decrease was primarily attributed to lower operating cash inflow and increased capital expenditure.
The continued decline in energy prices also impacted the company's balance sheet, with total assets falling to CHF 34,025 million as of 30 September 2024. However, equity saw a significant boost, rising by CHF 1,586 million to reach CHF 13,151 million.
Axpo’s liquidity remained robust, albeit slightly reduced to CHF 7,355 million. Meanwhile, the company managed to cut its financial liabilities from CHF 7,152 million to CHF 5,564 million, resulting in an improved net financial position of CHF 1,791 million.
In light of its strong capital position and solid performance, Axpo's Board of Directors has proposed a total dividend payout for the first time in two years. The proposal includes an ordinary dividend of CHF 241 million and a special dividend of CHF 429 million, signaling confidence in the company’s financial stability and growth prospects.
The proposed dividends reflect Axpo’s strategic focus on renewable energy investments while maintaining a healthy balance sheet amid fluctuating market conditions.
Follow the author on X: @Lyaman_Zeyn