The Swiss energy giant’s focus on core operations and adept risk management fuelled its success.

Alpiq saw its profits leap in 2023, even as revenues fell from the previous year’s highs. The Swiss energy conglomerate attributed this to both one-time gains and an uptick in core earnings.

“Alpiq demonstrated robust performance in a challenging market,” stated a recent press release. The company’s strategic emphasis on its main business and risk mitigation efforts proved beneficial. This approach also lessened the impact of fluctuating electricity prices.

Sales Down 40%

In 2023, Alpiq’s net sales dropped nearly 40% to CHF 8.96 billion. This decline followed a revenue spike in 2022, triggered by soaring prices after geopolitical tensions and energy supply disruptions.

Despite these hurdles, Alpiq’s EBITDA surged to CHF 1.81 billion in 2023, a significant rise from CHF 346 million in 2022. This increase includes substantial one-off gains. Excluding these, the operating profit still reached an impressive CHF 1.18 billion.

The reversal of negative financial hedging impacts from 2022 contributed CHF 469 million to the 2023 earnings. Additionally, the positive performance of decommissioning and waste management funds added CHF 47 million. Consequently, Alpiq’s net profit for 2023 stood at CHF 1.34 billion, up from CHF 111 million the previous year.

Alpiq in 2024

Looking ahead to 2024, Alpiq remains optimistic, buoyed by its 2023 success. The company anticipates continued financial health, despite ongoing market uncertainties. Its diversified revenue streams and solid financial foundation suggest sustained liquidity ahead.

Alpiq plans to propose a CHF 116 million dividend at the upcoming Annual General Meeting, reflecting confidence in its financial strategy and future prospects.

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