GELSENWASSER (WWG) investor relations material

Executive summary

• Internal and external reporting structures were realigned, segmenting operations into nine strategic business fields to enhance transparency and risk management.

• New long-term supply contracts and strategic partnerships were established, including a 10-year water supply agreement and new participations in regional utilities.

• The first half of 2026 saw a decline in revenue and net income, mainly due to lower trading volumes in gas and electricity.

Financial highlights

• Revenue decreased by €442.0 million (26.5%) year-over-year to €1,223.0 million, primarily due to lower gas and electricity trading revenues.

• EBIT fell by €1.2 million to €70.5 million compared to the previous year.

• Net income (Jahresüberschuss) was €57.5 million, down €1.5 million from H1 2025.

• Cash flow from operating activities rose to €130.6 million, up €76.9 million year-over-year, driven by positive working capital effects.

• Equity increased by €18.9 million since year-end 2025, mainly due to cash flow hedge effects.

Outlook and guidance

• Pre-tax profit for 2026 is forecast to remain at the budgeted level of €89.0 million.

• No significant impact from geopolitical tensions is expected for the full year.