Earnings higher than expected, investments once again increased – strong growth in the Biogas business area
In view of its strong performance in the 2019 financial year, Leipzig-based VNG AG considers itself well equipped for the future. ‘For 2019, we can look back on quite the successful year in which our hard work across all of our business areas was reflected in extremely positive operating results. We closed out the year in the black across all of our business areas,’ announced CEO Ulf Heitmüller on Thursday, 2 April 2020, when the company published its annual report for the 2019 financial year.
The group of companies, which is active throughout Europe and had a total of 1,155 employees at the end of 2019 (2018: 1,101), generated earnings of 117 million euros and adjusted EBIT of 133 million euros in the 2019 financial year (2018 earnings: 142 million euros/2018 adjusted EBIT: 159 million euros). As such, both figures stood slightly below the prior year’s numbers – last year’s result was heavily influenced by the company’s sale of the exploration and production business (E&P). At 10.5 billion euros, billed revenue in 2019 slightly exceeded the previous year’s level (10.0 billion euros). ‘We set ambitious goals for ourselves and were even able to exceed them in terms of operating performance. That’s why I’m very satisfied with the results and the positive overall performance of the group. All of our employees deserve special thanks,” said Heitmüller, who has been CEO of the corporation since 2016.
At 345 million euros (gross), the company further increased the value of its investments in 2019 (2018: 296 million euros). The focus was primarily on the Transport and Biogas business areas. ‘In line with our VNG 2030+ strategy, we are strengthening our established business areas and at the same time pushing ahead with the development of new areas of business. A prime example is our Biogas segment, which we have expanded significantly and have been operating as a separate business area since the beginning of this year. And we are already seeing initial positive results here.