Energy in Motion
VNG at a glance
Energy in Motion
We experienced a year full of dynamic change, challenges and successes. And for VNG as a whole, the common factor has been that standing still is not an option – which is self-evident when looking at events, tasks and achievements in our business divisions. As a broadly based group of companies, we are in a position to move in the market environment flexibly and proactively – a theme which we will explore in more in detail on the following pages.
We generate, procure and trade energy and operate systemrelevant gas infrastructure. This ensures a reliable gas supply.
We are further developing the molecule-based energy system and, as a partner of the energy transition, investing in the expansion of renewable and decarbonised gases.
We are closely connected to our region and support regional value creation and the common good in Eastern Germany.
Energy for today, tomorrow and the day after tomorrow
In recent years, we in the energy sector have seen how geopolitical changes, international developments and crises have repeatedly redefined the foundations of our activities. For this reason, corporate strategies can no longer be expected to maintain their validity for many years, but must be adapted and aligned more frequently and in shorter time cycles to new, dynamically changing political and social developments, regulatory requirements and market conditions. Our guiding framework for the longer-term development of the Group is the VNG 2030+ strategy. It sets out the basic direction of travel, but also offers scope for flexible adaptation to current requirements.
Key figures for the 2024 financial year
Present in five countries
From its headquarters in Leipzig, VNG operates an extensive Group network with subsidiaries and equity holdings in Germany, Poland, the Czech Republic, Austria and Italy.
VNG Annual Report 2024
Financial statements for 2024: VNG remains on track with strong results
“Looking back, 2024 was an eventful and turbulent year that brought with challenging conditions not only for the energy sector but for the entire German and wider European economy. Nevertheless, we responded flexibly to dynamic market conditions across all business divisions, guaranteeing the security of gas supplies and closing the financial year with another strong result. VNG was able to achieve this success with a healthy balance between continued implementation of the “VNG 2030+” strategy and seizing market opportunities as and when they arose,” summarised Ulf Heitmüller, Chairman of the Executive Board of VNG AG, at this year’s annual press conference.
VNG closed the 2024 financial year with an adjusted EBIT (adjusted operating earnings before interest and taxes) of EUR 321 mn (2023: EUR 447 mn). At EUR 232 mn (2023: EUR 380 mn) the consolidated result also significantly exceeded expectations. “The very good results from 2023 and 2024 create a stable foundation on which we are building the VNG of the future. We intend to invest up to EUR 5 billion in Central and Eastern Germany by 2035, subject to favourable framework conditions. Last but not least, we want to significantly boost our own decarbonisation efforts and those of our customers in order to strengthen industrial value creation in the region at the same time. To this end, we have invested EUR 329 mn across all divisions in 2024, not only in our existing business but also specifically in the renewable and decarbonised gases business,” pointed out Bodo Rodestock, Member of the Executive Board for Finance, Human Resources and IT at VNG AG. In the 2024 financial year, VNG generated invoiced sales of around EUR 16.1 billion (2023: around EUR 23.2 billion), the reduction being due to a significant fall in market prices. The VNG Group employed a total of 1,939 persons as of 31 December 2024.
