Germany's EEX saw 19% revenue growth last year

European Energy Exchange AG

25/04/2024 10:30

LONDON, April 25 (Reuters) - The European Energy
Exchange's (EEX) revenue rose 19% last year, mainly driven by
power and natural gas trading volumes as well as the group's
north American commodity markets, it said on Thursday.
    Revenue grew to 575.6 million euros ($615.03 million) from
482.4 million euros in 2022, said EEX, which is part of Deutsche
Boerse  DB1Gn.DE .
    Annual earnings before interest and taxes (EBIT) increased
by 28% to 306.4 million euros.
    In the first quarter of this year, EEX experienced monthly
volume records in some markets, particularly spot power and
derivatives. Natural gas derivatives volumes also increased
compared to the same quarter last year.
     "This year, we will continue with our expansion and
diversification strategy by entering new geographies and
launching new products to meet market needs, while contributing
to the energy transition," said EEX Chief Executive Peter Reitz.
    Even though wholesale power prices have fallen since the
energy crisis in 2022, trading volumes have risen.
    Annual revenue from European power derivatives rose by more
than 50% to 122.8 million euros while spot market revenue was up
 17% at 86.7 million euros.
    Natural gas derivatives revenue in Europe increased 37% to
29.2 million euros,
    EEX is based in 21 locations worldwide and offers trading in
power, gas, environmental products, freight and agriculture, as
well as clearing services. 

($1 = 0.9359 euros)

 (Reporting by Nina Chestney; Editing by Kirsten Donovan)
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