ENERGY The slowdown in the German economy and increased price awareness among customers are affecting the Energy business area’s results for the year. SALES 18.8 BN DK K EBITDA 520 M DK K COLLEAGUES 862 In 2024, the energy market in Germany was characte- rised by lowered demand compared to previous years due to the stagnant economic situation, which resulted in significant restraint among businesses and consumers. The lowered demand also resulted in a sharpening of competition in the market. This trend is expected to continue as demand for traditional energy products is expected to decrease. The DLG Group’s German subsidiary Team generates by far the largest share of its revenue in the Group’s energy division, where Team Energy’s business is focused in the northern half of Germany. Despite an increase in the number of private and commercial vehicles, transport volumes decreased by approx. 1%, compared to the previous year. This led to reduced demand for fuel from both private and com- mercial customers. At the same time, the slowdown in the German economy had a dampening effect on in dustrial production and thus the demand for energy products in industry. Overall, the use of primary energy fell by around 3% and sales of oil products fell by around 1%. However, the lowered price level means revenue in Team Energie will fall further. LOWER DEMAND AND GREATER PRICE AWARENESS Warm weather with record-high temperatures in the first half of 2024 and general reluctance among consumers led to lower demand for heating oil, which, however, increased again at the beginning of the heating season in the fourth quarter. Increased price awareness among consumers also resulted in intensified competitive pres- sure in the market. Sales of lubricants were slightly higher than the previous year and exports of lubricants, in particular, developed favourably, partially offsetting the general decline in the energy sector. Against the backdrop of Germany experiencing negative economic growth, a generally weak macroeconomic de- velopment and high competitive pressure, Team Energy ended the year with an overall decrease in revenue and operating profit compared to the previous year. NEW RECORD-BREAKING FIGURES FOR ELECTRICITY AND NATURAL GAS As an electricity and natural gas supplier, Team is focu- sed on the distribution of environmentally and clima- te-efficient products, local proximity, transparency and strong customer service combined with an increasing digital presence. In 2024, the business area saw a positive development in electricity and natural gas, with the number of customers increasing to a record high of 85,000 during the year. New customers from all over Germany were added via price comparison portals and Team’s own customer portal, among other things. POSITIVE DEVELOPMENTS IN MOBILITY SERVICES The petrol station market is characterised by many transactions and margins have increased compared to previous years. Team Energy recorded growth in supply and sales in petrol station stores and foodservice. DEVELOPMENT IN ENERGY PRICES USD/barrel 140 120 100 80 60 40 20 0 2022 2023 Oil Gas Euro/MWh 350 300 250 200 150 100 50 0 2024 29 Introduction – Results – Business areas – Introduction to ESG – Environment – Social – Governance – Accounting
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