Mar 16, 2023 / 10:00AM GMT
Peter Kollmann - VERBUND AG - CFO & Executive Board Member
Ladies and gentlemen, Andreas and I welcome you to our presentation. Let me thank you for joining today's conference call. Before we move into the analysis of our business development, let me make a few general comments.
'22 was marked by very difficult geopolitical and energy industry developments. This led to major changes in the energy environment and above all the war in Ukraine caused major distortions on the European energy markets, which were reflected in extreme price increases and volatility as well as in a strongly changed supply and demand structure.
Prices for our primary energy sources increased drastically over the year, changes in gas supply volumes and [purchased] structures having an enormous impact on the development of gas prices. The European wholesale price for electricity also increased or reached new highs in the course of the year as a result of a strong rising world market prices for primary energy sources and the increasing market risks.
Due to this difficult situation in the European
Full Year 2022 Verbund AG Earnings Call Transcript
Feb 14, 2024
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