VNG financial statements for 2018: financial year exceeds expectations

Adjusted EBIT rises to €159 million – VNG in a process of transformation – Group strategy “VNG 2030+” being implemented: green, digital, with gas

In the 2018 financial year, VNG recorded adjusted EBIT[1] of €159 million (2017: €129 million). “All in all, I am highly satisfied with business developments in the 2018 financial year. Despite a difficult economic and energy policy environment, we were able to continue the positive trend in the development of our business and results. We have succeeded in recording good operating results in all business areas and in implementing key steps in our strategy “VNG 2030+”,” said Ulf Heitmüller, Chairman of the Executive Board of VNG AG, at this year’s press event presenting the financial statements of VNG.

The consolidated results after interest and tax amounted to €142 million (2017: €71 million). “2018 was an extraordinarily good year for VNG. This is all the more gratifying because such results cannot be taken for granted. The results also reflect one-off effects. We have worked hard, never lost sight of our costs and efficiency and have succeeded in further strengthening our earnings power. Special thanks are due to our employees for their untiring dedication. The consolidated results were also positively influenced by the sale of our E&P business,” said Bodo Rodestock, Member of the Executive Board responsible for Finance and Human Resources. At €11.2 billion, the revenues of the VNG Group were significantly higher than the previous year’s figure (2017: €8.2 billion).

press release - VNG financial statements for 2018

[1] EBIT adjusted to eliminate extraordinary and one-off effects on results.