Zurich, Switzerland, 10 March 2023 – Energy services provider Open Energy Platform AG (OpenEP) can look back on a successful year. It remained a reliable partner for its customers, despite the major challenges in energy markets. Its key financial figures also improved significantly in the 2021/22 reporting year. For example, operating profit rose almost threefold. Moreover, OpenEP surpassed the one billion turnover mark for the first time.
Proven OpenEP business model
OpenEP achieved net income from sales of goods and services of more than CHF 1.6 billion as of the reporting date 30 September 2022, an almost threefold increase on the previous year’s figure of CHF 601 million.
The increase in the balance sheet was due to rising prices and market volatility, to which the conflict in Ukraine was a contributing factor. The higher prices and volatility in the markets led to, among other things, cross-border capacity reaching previously unseen heights. In parallel to this, they brought about a virtual doubling of the balance sheet total.
The past business year was an extremely successful one for OpenEP in more than just financial terms, however. Customers benefited from OpenEP’s crisis-proof business model in this turbulent year too. The energy services provider was also able to prove its expertise on committees responsible for the security of gas supply. In addition, OpenEP responded to customer requirements by launching trading products relating to guarantees of origin.
Through increased communication, OpenEP is ensuring that new and existing customers can fully rely on the energy services provider’s support.
Focus on development in the area of security of supply and decarbonisation
OpenEP will prioritise operational activities related to the security of supply in the forthcoming financial years. The energy services provider has identified corresponding demands in the markets in which it operates. A systematic framework for the resulting measures will be created in consultation with customers and the authorities.
At the same time, decarbonisation will remain an important topic, even if this has been pushed into the background somewhat on account of the conflict in Eastern Europe. Here, OpenEP will focus on anticipating developments with regard to hydrogen.
OpenEP is again expecting further significant growth in revenue in the current business year due to price developments in the markets. The higher revenue volume will be accompanied by increased management attention.
Contact:
Rudolf Summermatter, CEO of Open Energy Platform AG | Beckenhofstrasse 6 | 8006 Zurich, Switzerland
Tel. +41 (0)44 733 62 00 I Email: info@openep.ch