Half Year 2022 EVN AG Earnings Call Transcript
Good morning, ladies and gentlemen. And welcome to this conference call on EVN's results for the half year 2021, '22.
(Operator Instructions) Let me now turn the floor over to your host, Mr. Stefan Szyszkowitz.
Please go ahead.
Good morning. And welcome to the conference call on EVN's results for the first half of the 2021, '22 financial year.
Since last summer, the energy markets took an unexpected development. What started as a post-COVID price increase turned to be historic distortions of energy markets and prices. And ultimately the war in Ukraine began, the main driver for this development. The impacts of these developments on EVN and our integrated business model are varying. For Generation, higher prices are positive and provide for a certain upside. However, please bear in mind that Generation has been hedged at pre-running average levels rather than peak levels. For our energy supply business, higher prices are a burden which we will be able to overcome
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