Leipzig, 26 April 2023 – In 2022, EEX Group was able to expand its global position in all business areas. The international exchange group headquartered in Leipzig increased its total revenues by 33% to EUR 482.4 million (2021: EUR 362.4 million). Earnings before interest and taxes (EBIT) rose to EUR 239.2 million, an increase of 74% compared to 2021. EEX Group recorded strong growth in particular in natural gas trading and in the North American commodity markets. The services of the clearing house ECC were a strong foundation for the company's success.
Peter Reitz, CEO of EEX, puts the year 2022 in perspective: “The excellent figures reflect the steadily increasing importance of our offering. Especially in turbulent times, market-based instruments form the basis for security of supply and transparency. In addition, the secure processing of transactions via the clearing house is of central importance. In these extreme market conditions, it shows that by working closely with our customers, we are able to develop market-based solutions and provide stability.”
Power: Increasing market shares in an overall declining European futures market
The strong volatility and high price levels led to reluctance to trade long-term European power contracts in 2022. While sales revenues on the Power Spot Market, operated by EPEX SPOT, slightly increased to EUR 74.1 million with consistent trading volume, sales revenues in futures trading fell to EUR 80.9 million (2021: EUR 104.1 million). In an overall declining European power derivatives market, EEX was able to significantly increase its market shares and thus expand its role as the world's leading power exchange. Contrary to the trend in Europe, the US power futures markets of Nodal Exchange reported a new trading record.
Record high in the natural gas markets
Due to the tense gas supply situation caused by the war in Ukraine, the need for exchange hedging instruments and thus the trading volume on the EEX gas markets increased significantly. The record trading volumes on the European natural gas markets led to a significant increase in sales revenues from EUR 65.2 million to EUR 91.0 million (of which EUR 69.6 million was recorded in the spot markets and EUR 21.4 million in the derivatives markets).
Clearing as anchor of stability in uncertain times
The year 2022 showed in particular how important it is to secure transactions via a central counterparty. Clearing is a safe haven and the clearing houses ECC and Nodal Clear are strong partners for risk management for trading participants. Many market participants increasingly used the cleared markets of EEX Group to hedge risks, which was reflected in increasing volumes, especially in the gas market, and higher market shares in both power and gas markets.
Diversification a key success factor
A key factor in the Group's success is the continuous diversification of products and services worldwide. CEO Peter Reitz: “The figures show that our economic success is not dependent on our former core market – the European power derivatives market. Our other markets, above all the gas market and the US markets, have developed into strong growth drivers. But we also see a positive development in our smaller markets, for example in the sector of agricultural products.”
Combining economic strength and ecological sustainability is one of the core objectives of EEX. Peter Reitz also points this out: "With our products and services, we are a driver of the energy transition and have initiated and implemented further projects in 2022". In the USA, products for the voluntary carbon markets were introduced and in Europe, spot market auctions for Guarantees of Origin complement the offer.
Reitz adds: “The first three months of the new year allow for a positive outlook. Prices on the power and gas markets have fallen significantly. Trading volumes on the EEX Power Derivatives market are picking up again, while we can continue the growth of the past year in our other markets.”
More information can be found here.
EEX Group builds secure, successful and sustainable commodity markets worldwide – together with its customers. The group offers trading in power, natural gas, environmental products, freight and agriculturals as well as subsequent clearing and registry services, connecting a network of more than 800 trading participants. EEX Group consists of European Energy Exchange (EEX), EPEX SPOT, EEX Asia, Power Exchange Central Europe (PXE) and Nodal Exchange as well as the registry provider Grexel Systems and software companies KB Tech and Lacima. Clearing is provided by EEX Group’s clearing houses European Commodity Clearing (ECC) and Nodal Clear. EEX Group is part of Deutsche Börse Group. More information: www.eex-group.com
EEX Public Relations
T +49 341 2156-300