Verbund Ag Ord (OEZVF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Verbum Dei Gei full year 2024 conference call. I would like to remind you that all participants will be in this only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Peter Coleman. Please go ahead. Thank you very much. I'm here with Andreas Wollein, Head of Investor Relations and Finance. We will do this presentation together. Ladies and gentlemen, welcome to the presentation of our 2024 results. And let me thank you for joining today's conference call. Before we move into the analysis of our business development, let me make a few general comments. In 2024, The verbund results were down compared to 23, but still high in a historic context due to normalizing conditions in the energy industry following the gas price shock after the outbreak of the Russia-Ukraine conflict. As you know, the past financial years proved to be challenging for the entire energy industry. with very little predictability and high volatility. In particular, geopolitical events, but also the weakening economy in Europe. In addition, the landmark elections in the EU, in many EU member states, and of course in the US, gave rise to intensive discussions about the future shape of the regulatory and political framework conditions. within the energy sector. These developments made it very clear that tensions between security of supply, climate protection, and competitiveness will remain intense over the next years. Now let's move on to the details of our 24 results. Average...