BAKU, Azerbaijan, December 5. Swiss energy company Axpo reported improved earnings for its Generation & Distribution division in the financial year from 1 October 2023 to 30 September 2024, with adjusted earnings rising by CHF 50 million to reach CHF 402 million, Trend reports via the company.
This growth was driven by the high availability of Switzerland’s nuclear power plants and a 20% increase in hydropower production, supported by favorable weather conditions.
Meanwhile, the Trading & Sales division, despite not replicating last year’s exceptional performance, remained the company’s largest earnings contributor. The division posted earnings of CHF 1,112 million, down from CHF 1,688 million in the prior year. This success was primarily attributed to the delivery of customized energy solutions for business clients and Axpo's extensive network of 1.7 million points of delivery across Italy, Spain, Portugal, and Poland.
Axpo’s Swiss subsidiary CKW faced a decline in adjusted earnings, which fell to CHF 116 million from CHF 160 million due to lower electricity prices. CKW's overall revenue for the period also saw a significant drop, reaching CHF 1,509 million, compared to CHF 3,389 million in the previous year.
Despite challenges in certain segments, Axpo's strategic diversification across markets and its focus on delivering tailored energy services helped maintain robust contributions to its overall financial performance.
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