Robust result in an eventful environment

Primeo Energie has achieved a robust result in a still turbulent energy market. The company is healthy, both financially and in terms of personnel, and is well equipped to successfully master the challenges of the energy transition. The development and establishment of Primeo Energie as a leading provider of innovative energy-related products and services is on track.

The most important facts at a glance:

  • Increased Group sales to CHF 2.5 billion (previous year: CHF 2.3 billion)
  • Increased operating result (EBIT) to CHF 160 (106) million
  • Increased net profit to CHF 85 (28) million
  • Higher equity ratio of 53.5 (50.7) per cent

2023 was an eventful year for the entire Primeo Energie Group. The transformation of the energy sector with unforeseen changes once again challenged the company, albeit not as fundamentally as in the previous year. Positive market effects from the electricity business in France, the management of the electricity business from long-term procurement contracts and the expansion of renewable energies made a significant contribution to Primeo Energie's robust result. On the other hand, the tariff relief measures in the basic supply had a negative impact. The turnover of the Primeo Energie Group totalled CHF 2.5 (2.3) billion. This increase in output is still linked to the previous year's electricity price trend. The operating result (EBIT) increased significantly to CHF 160 (106) million. At CHF 85 (28) million, profit was also significantly higher than in the previous year. In addition to the results from France, the increase is also due to the dividend payment from Alpiq. Primeo Energie's consolidated total assets amount to CHF 2.9 billion. The equity ratio is slightly higher at 53.5 (50.7) per cent.

Electricity market remains challenging
Unlike in France, the electricity business in Switzerland is not yet profitable in the current market environment. The volatile market environment is also linked to the fact that electricity and gas sales in the electricity business segment in Switzerland and France fell to 13,805 (15,543) million kilowatt hours. In contrast, the electricity-related services business showed steady growth in sales and earnings. The previous positive trend in the connection for own consumption (ZEV) continued, with the portfolio reaching 12,322 (9,930) ZEV points. Electricity production with ZEV systems reached an impressive 8.2 gigawatt hours (GWh) per year. Primeo Energie manages a pool of over 200 flexible production units with a total capacity of 175 megawatts (MW) for primary, secondary and tertiary energy and the winter reserve via the Equalio platform ( by providing ancillary services and marketing balancing energy.

Sustainable, smart and efficient electricity grid
The Grid segment was characterised by the tariff support measures in favour of customers. In line with the cooperative's mandate, Primeo Energie provided a CHF 25 million subsidy to reduce electricity prices in the basic supply. To this end, Primeo Energie refrained from making a profit and from reclaiming any differences in grid coverage. In view of the high electricity prices, the billed supply tariffs did not cover costs. The service business with the products street lighting, extra-high voltage systems and electromobility continued to develop positively. Primeo Energie has been actively involved in promoting the decentralised production of solar power since 1991, triggering a veritable boom from 2005 onwards. At the end of the reporting year, 6,505 (4,815) photovoltaic systems with an installed capacity of 146 (101) megawatt peak were producing renewable electricity in the Primeo Energie Group's distribution grids. With regard to electromobility, the total output of all charging points was significantly increased to 46,420 (27,705) kilowatts. An innovation was the electricity saving campaign launched at the end of 2023. Right from the start, 1,700 customers with a consumption of less than 50 MWh per year took part in the programme to save electricity.

Space heating and domestic hot water from renewable energy sources
The goal in the heating segment is to gradually reduce CO2 emissions, which Primeo Energie is driving forward both in France and in Switzerland. Accordingly, wood, waste wood, pellets, solar thermal energy and waste and environmental heat with heat pumps are used to generate heat. Larger projects are underway in the municipalities of Aesch, Allschwil, Binningen, Birsfelden and Muttenz. The two wood-fired boilers for the new large-scale Birstal heating network in the municipalities of Münchenstein, Reinach and Arlesheim were installed in the heating centre on the uptownBasel site in Arlesheim in autumn 2023. They have an output of 8 and 11 megawatts respectively. The network will go into operation in 2025. The Primeo Wärme Group is also continuously expanding its activities in Alsace by investing in energy suppliers. At 2,457 days, the heating degree days, a measure for drawing conclusions about weather-related heating energy consumption, were two per cent below the previous year and six per cent below the long-term average in 2023. Despite the slightly milder temperatures, heat sales increased to 705 (688) million kilowatt hours. CO2 emissions were significantly reduced by 115,240 (106,456) tonnes in 2023.   

Expansion of renewable electricity production
Primeo Energie procures domestic electricity of hydroelectric quality via its stake in the Birsfelden power plant, its long-term procurement contract with the Augst power plant and its partner contract with Alpiq. Primeo Energie participates in the growth market of renewable energy through its subsidiary aventron. This was once again able to realise a number of important projects in the reporting year. In the canton of Uri, the Palanggenbach hydropower plant, in which aventron holds a 60 per cent stake, was commissioned. The Gilamont hydropower plant (in the municipality of Vevey VD) was also commissioned in autumn 2023. Once again, a large number of rooftop solar projects were realised in Switzerland. We were pleased to be awarded the contract by the Federal Roads Office (FEDRO) for the planned installation of innovative solar roofs on 45 motorway service areas in French-speaking Switzerland, Valais and the canton of Berne. Substantial expansion projects were also realised abroad. The project in Bad Lauchstädt (Germany) is particularly noteworthy. Here, aventron acquired 50 per cent of the shares in the wind farm being built there, which will supply electricity for the production of green hydrogen - a pioneering project in the energy transition. In total, Primeo Energie's share of renewable production reached 1,489 million kilowatt hours in 2023.

The development and establishment of Primeo Energie as one of the leading national providers of innovative energy-related products and services is on track. Renewable energies such as electricity and heat, energy storage, energy efficiency, smart applications and solutions remain important. As a leading supply company, we are ready and committed to setting ourselves ambitious targets and making an important contribution to security of supply, climate protection and the Energy Strategy 2050. This is reflected in our comprehensive sustainability reporting, which is presented in a separate publication.  

Media contact:
Joachim Krebs, Head of Corporate Communications, +41 61 415 43 85,

Video Geschäftsbericht 2023