Lechwerke (LEC) Analystenkonferenz 2024 presentation summary

Strategic positioning and business model

• Integrated energy provider with operations in generation, grid, sales, energy solutions, and telecommunications in Southwest Bavaria.

• Focus on green, regional, and digital growth, leveraging the energy transition for value creation.

• Robust, future-proof business model emphasizing reliability, foresight, and innovation.

• Strong partnerships with municipalities, businesses, and communities to advance the energy transition.

Operational highlights and sustainability

• Operates 36 hydropower plants, generating around 1 billion kWh annually; 26 MWp PV capacity in 2023 with 10 MWp planned.

• Over 120,000 renewable energy installations connected, covering more than 90% of electricity demand.

• Digital infrastructure includes 7,000 km of fiber optics and a green data center nearing completion.

• Acts as a decarbonization partner for B2B, B2C, and municipalities.

Financial performance and investment

• Record investments of €226 million in 2023, up 36% year-over-year; five-year investment plan of €1.3 billion.

• 2023 EBIT (IFRS) reached €226 million, a 20% increase; EBITDA at €293.2 million.

• Net profit after tax for 2023 was €137 million (HGB), with a stable dividend of €2.80 per share.

• Share price at €72.00 as of July 2024, with low free float (3.39%).