Swiss energy group BKW reported a 15% drop in first-half earnings before interest and taxes (EBIT) to 263.7 million francs as hydropower and wind generation declined and regional market disruptions weighed on power trading.
Total revenue for the January-June period fell 3.1% to 2.18 billion francs, with the energy segment contributing 951 million francs, down 4.2% year-on-year. The company cited challenging hydrological conditions for reduced water flows and weaker wind conditions for lower wind turbine output. Power trading earnings were also pressured by volatility linked to the Middle East conflict, though the grid and services businesses remained resilient.
Net profit rose 7% to 217.6 million francs, supported by gains from the decommissioning and waste management funds for the Mühleberg nuclear plant. The results missed analyst expectations for revenue and EBIT, according to AWP data.
BKW confirmed its full-year EBIT guidance range of 650-750 million francs but now expects results toward the lower end. Management anticipates a stronger second half, with the grid business seen remaining stable and services continuing to perform positively.
