Services burden BKW’s result
In 2023, BKW achieved sales of 4.6 billion francs and a net profit of 488 million francs. Despite significant declines, these are the second-best results ever. The services sector reported a loss of 40 million francs on sales of 1.8 billion francs.
According to a press release, BKW achieved the second-best financial year in its history in 2023. With revenue of CHF 4,598 million, the Bern-based energy supplier achieved earnings before interest and taxes of CHF 620 million and a net profit of CHF 488 million. Sales are thus 12 per cent below the record year 2022, but 29 per cent above 2021. The result and profit were similar: net profit in 2023 was 40 per cent below that of 2022 and 76 per cent above that of 2021.
The result is primarily driven by the Energy business division. According to the annual report, this contributed a total of CHF 535 million to the result with a total operating performance of CHF 2,953 million, a decrease of 24 per cent in output and 40 per cent in profit. Investments in the Energy business division rose from CHF 147 million to CHF 276 million.
With a total output of CHF 540 million, the grids delivered a result of CHF 147 million, an increase of 5 per cent in output and 0.6 per cent in the result. Investments rose from CHF 113 million in 2022 to CHF 136 million in 2023.
Sales of services rose by 4 per cent to CHF 1,838 million in 2023. The business division reported a loss of 40 million francs. In the previous year, it had still posted a plus of 53 million francs. The result was burdened by depreciation and impairments totalling 132 million francs. Investments fell from CHF 333 million to CHF 75 million. BKW aims to sustainably increase the profitability of the business area by the end of 2024. It is also examining sales and acquisitions.