Natural Gas Trading
- Sales increase considerably on account of higher trading volumes
- Considerable decline in income from operations before special items, mostly due to margin pressure in natural gas trading business
As a result of higher volumes, sales to third parties in the Natural Gas Trading business sector grew by €1,691 million to €11,847 million. At 521 billion kilowatt hours, sales volumes were significantly above the level of the previous year. We achieved growth of 23% to 277 billion kilowatt hours in our business abroad. WINGAS sold 7% of its volumes to BASF Group companies outside of the Oil & Gas segment.
Despite this positive volumes development, income from operations before special items declined by €60 million to €429 million, mostly as a result of pressure on retail margins. Continuing optimization measures on the procurement end were only partly able to halt the decline in margins. Earnings fell slightly in gas transport. Special income of €429 million arose from the reclassification of GASCADE Gastransport GmbH due to loss of control.