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Annual Report 2024

Advancing
energy.
Accelerating
change.

Securing energy –
now and for the future.

SEFE, an international energy company, ensures the security of supply and drives the decarbonisation of its customers.

SEFE’s activities span the energy value chain, from origination and trading to sales, transport and storage.

Through its decades-long expertise in trading and the development of its LNG business, SEFE has become one of the most important suppliers to industrial customers and municipalities in Europe, with an annual sales volume of 200 TWh of gas and power. Its 50,000 customers range from small businesses to multinational organisations.

By investing in clean energies and especially in the hydrogen ecosystem, SEFE is contributing to the energy transition. The company employs around 2,000 people globally and is owned by the Federal Government of Germany.

Company
key figures

0 +
Customers

~ 0 %
OF GERMANY’S
STORAGE CAPACITY

~ 0 TWh
Of annual
gas & power
sales
~ 0 km
Of gas pipelines

Key figures 2024

Gross
operating profit
0
in EUR million
EBITDA
0
in EUR million

NPAT
0
in EUR million
Investments
0
in EUR million
Non-current assets
0
in EUR million

Locations

Global Head Office
BERLIN (DE)


BRUSSELS (BE)
HOUSTON (US)
JEMGUM (DE)
KASSEL (DE)
LONDON (GB)
MANCHESTER (GB)
PARIS (FR)
PRAGUE (CZ)
REHDEN (DE)
RIJSWIJK (NL)
‘S-HERTOGENBOSCH (NL)
SINGAPORE (SG)
VIENNA (AT)
ZUG (CH)

Letter from the CEO

Dr Egbert Laege
Chief Executive Officer

“In 2024, we continued to transform our company at full speed, reaching several key milestones on the road to privatisation ahead of schedule.”

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Report of the
supervisory board

Reinhard Gorenflos
Chairman of the Supervisory Board

„In 2024, the Supervisory Board paid particular attention to the company’s strategy, identifying the energy transition as a key priority. The strategy includes the integration of renewable energy sources into the product portfolio, as well as product diversification, while ensuring the security of supply in Europe.“

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Securing the
supply of energy

Securing Germany’s and Europe’s energy supply is SEFE’s main priority. To this end, we successfully diversified our portfolio even further in 2024, whether it is long-term contracts with LNG producers such as Oman LNG and ADNOC (United Arab Emirates) from the Middle East, the flexible procurement of pipeline gas from ConocoPhillips, or the short-term supply of LNG from Africa by our partner Angola LNG.

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Promoting
decarbonisation

SEFE aims to become a leading European energy company in the low-carbon economy. That is why we also invest in climate protection projects to reduce carbon emissions. In 2024, for example, we joined carbon-reduction initiatives in Australia and Kazakhstan.

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Ready for the
hydrogen future

At SEFE, we believe that hydrogen is an important building block in the energy transition. As an international energy company, we already operate along the entire energy value chain – from origination and sales to transport and storage.

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Strength through
shared identity

A strong corporate brand thrives on a consistent image – both internally and externally. Over the past few years, SEFE has repositioned itself and set a clear course for the future.

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Prioritising
sustainability

Operating responsibly is a top priority for SEFE. That is why we have not only set ambitious sustainability targets but also communicated them transparently in our first Sustainability Report. The report documents the progress we made in 2023 – and in some areas we are already leading the way.

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A milestone for
our growth strategy

From today’s natural gas network to the hydrogen core network of the future: By acquiring the stake of its former joint venture partner Wintershall Dea in the gas network operator WIGA, SEFE has further expanded its role in securing Europe’s energy supply.

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Strategy

SEFE’s strategy aims to ensure energy security in Germany and Europe as well as to drive forward the energy transition.

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Report on expected developments

For 2025, SEFE expects stabilised financial figures, supported by new strategic initiatives in trading and increasing sales volumes in distribution.

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Report on opportunities and risks

SEFE capitalises on long-term growth potential by recognising and managing opportunities and risks at an early stage.

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Consolidated Financial Statements

SEFE’s business development demonstrates that profitability and corporate responsibility can be successfully reconciled. The 2024 group accounts provide further evidence of this. Despite weak economic forecasts and declining energy prices, SEFE has maintained its market position. Both the positive development of the overall income statement and the robust balance sheet structure vividly reflect this.

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Sustainability Commitment

SEFE is committed to becoming a European major in the global low-carbon economy and to driving the energy transition forward. SEFE will transform its business and help its customers to decarbonise.

The transition to a low-carbon economy presents a huge challenge for both industry and society. Companies cannot reach their objectives merely by making incremental changes to technologies, workforces, regulations and processes. Instead, the global economy must undergo a profound and comprehensive shift.

The energy transition also presents multiple opportunities. Innovative energy products and services, the conversion to low-carbon infrastructure and the creation of new energy supply chains offer new material sources of revenue and the ability to lead the transition of the energy industry.

Environmental (pdf) Social (pdf) Governance (pdf)

Annual Report 2024