Creating added value together
VNG at a glance
VNG is a group of over 20 companies active in the European energy industry, employing about 1,700 people. As a gas importer and wholesaler as well as an operator of critical gas infrastructure, the Group, which is headquartered in Leipzig, is central to the secure supply of gas in Germany.
With the “VNG 2030+” strategy, VNG is also pursuing an ambitious path for a market ramp-up of renewable and decarbonised gases such as biogas and hydrogen, paving the way for a sustainable, secure supply and, in the long term, climate-neutral energy system of the future.
We see ourselves as a key player in securing supplies of gas in Eastern Germany. Accordingly, we ensure that our customers always receive the energy they need, both now and in the future. We guarantee this with diversified sources of supply, the reliable operation of our gas infrastructure and international partnerships.
We are helping shape the energy transition and driving the transformation from fossil gas to a renewable and decarbonised supply of biogas and hydrogen (H2). Our projects extend all the way up and down the gas value chain. In realising these projects, we leverage experience gained over decades and work together with expert partners.
As a structurally significant company in Eastern Germany, we want to maintain the strength of the regional economy, and contribute to the prosperity and quality of life of society with our investments in modern infrastructure, green gas projects and our social commitment.
Closely connected
As a Leipzig-based company, VNG feels closely connected to its home region and makes an important contribution to the future viability of the regional economy in Eastern Germany. We create value for the region with customised solutions and various projects. These projects have three dimensions: security of supply, transformation and structural change.
Key figures of the 2023 financial year
Present in five countries
From its headquarters in Leipzig, VNG operates an extensive Group network with subsidiaries and holdings in Germany, Poland, the Czech Republic, Austria and Italy.
VNG Annual Report 2023
“Last year was once again characterised by an exceptional market environment. This opened up opportunities for us that we successfully exploited. All in all, we have achieved an extraordinary result that far exceeded our expectations,” commented Ulf Heitmüller, CEO of VNG AG, at the beginning of this year’s annual press conference. “All business divisions contributed to our financial success. However, it is already foreseeable that this profit situation cannot be sustained in 2024. We expect the market, and as a consequence the Group result, to normalise next year,” added Heitmüller.
VNG closed the 2023 financial year with an adjusted EBIT (operating earnings before interest and taxes) of EUR 447 million (2022: EUR -205 million). At EUR 380 million, the consolidated net profit is also significantly higher than the previous year’s figure (2022: EUR -337 million). “Our commercial success affords us the financial stability we need to ambitiously yet steadily forge ahead with the necessary investments in the transformation of the energy system and to consistently implement our VNG 2030+ strategy. We intend to invest up to EUR 5 billion by 2035 provided that the right framework conditions are in place. A large proportion of our investments will be channelled into expanding the infrastructure for green gases. In 2023, we once again invested heavily in structural change in the Eastern and Central Germany region. Across all business divisions, our investments totalled EUR 197 million,” pointed out Bodo Rodestock, CFO and CHRO of VNG AG. Invoiced sales in the 2023 financial year totalled around EUR 23.2 billion (2022: around EUR 36.2 billion). As at 31/12/2023, the VNG Group had a total of 1,688 employees (2022: 1,578).
