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Amprion GmbH: Amprion presents IFRS figures for the first time

·4-min read

DGAP-News: Amprion GmbH / Key word(s): Half Year Results/Miscellaneous
Amprion GmbH: Amprion presents IFRS figures for the first time
06.09.2022 / 17:29 CET/CEST
The issuer is solely responsible for the content of this announcement.

Dortmund, Tuesday, 06 September 2022

The transmission system operator Amprion GmbH presents IFRS figures for the Amprion Group, consisting of Amprion GmbH and Amprion Offshore GmbH, for the first time following the conversion of the accounting standards.

With today's publication of the IFRS consolidated financial statements for the 2021 financial year and the simultaneous publication of the unaudited IFRS figures for the first half of 2022, the conversion of the accounting standards to the International Financial Reporting Standards (IFRS) has been completed for the Amprion Group. The company is thus following the standards of the international capital market and will be even more transparent and comparable for investors in the future.

Compared to accounting according to local GAAP (German Commercial Code), the application of IFRS leads to some changes due to valuation and recognition differences. The most significant difference to local GAAP accounting is that the regulatory claims and obligations recorded in the regulatory account in accordance with the German Ordinance on Incentive Regulation of Energy Supply Grids (ARegV) may not accounted for as such under IFRS in the balance sheet. This results in an economically unfounded revenue and earnings volatility in the IFRS financial statements. Amprion therefore presents – as it is common in the industry – key earnings figures and key financial ratios adjusted for this effect, as part of its capital market communication.

These key figures include earnings before interest, taxes, depreciation and amortisation (EBITDA), net income and the cash flow-oriented key figure Funds From Operations (FFO). In the income statement according to IFRS, surcharges that do not affect profit or loss, such as those from the EEG redistribution mechanism, are also shown netted out.  

"We look back on a first half of 2022, that was marked by geopolitical challenges and challenges for the energy industry," says Peter Rüth, CFO of Amprion GmbH. "Overall, we have observed a significant increase in energy prices since the first half of the year and, as a result, higher costs for system services. Due to the high dynamics it is still not possible to reliably estimate their amount for the end of the year."

However, the regulatory mechanism ensures that additional expenses for system services will be fully compensated over the coming periods, says Rüth, who adds: "In addition, the conversion of our accounting standards to IFRS is an important step in order to take into account the practices of the international capital market. This will make us even more transparent for our investors."

The IFRS Group Financial Statements 2021 as well as the tables for the unaudited IFRS half-year figures 2022 can be found under the following link:
https://www.amprion.net/Amprion/Finance/Annual-Report/




For further questions, please contact:

Mr Patrick Wang
Head of Investor Relations
T +49 231 5849- 12297
ir@amprion.net


Amprion connects

Amprion GmbH is one of four transmission system operators in Germany. Our extra-high-voltage network is 11.000 kilometres long and transports electricity across an area that extends from Lower Saxony to the Alps. Around a third of Germany’s economic output is generated there. Our power lines are lifelines of society: They secure jobs and quality of life for 29 million people. We keep the network stable and safe – and prepare the way for a climate-compatible energy system by expanding our network. Around 2.200 employees in Dortmund and at more than 30 other sites help make sure the lights never go out. We also perform overarching operations for integrated grid systems in Germany and Europe.


06.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Amprion GmbH

Rober-Schumann-Straße 7

44263 Dortmund

Germany

E-mail:

capitalmarkets@amprion.net

Internet:

www.amprion.net

ISIN:

DE000A3JN9U5

Listed:

Luxembourg Stock Exchange (Euro MTF)

EQS News ID:

1436763


 

End of News

DGAP News Service

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