Earnings Release • Aug 10, 2012
Earnings Release
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Corrected version of August 10th, 2012
Burgenland Holding holds a share of 49% in the share capital of Burgenländische Elektrizitätswirtschafts-AG (BEWAG), which was merged with BEGAS Energie AG at the end of June 2012 retroactively as of September 30th, 2011. The remaining 51% of the shares are held by Burgenländische Landesholding GmbH. The share capital of BEWAG amounts to EUR 34.9m.
The shares of Burgenland Holding AG (share capital: EUR 21.81m) are listed on the Official Market of the Vienna Stock Exchange under AT0000640552. EVN AG is the majority shareholder in Burgenland Holding AG and holds an unchanged stake of 73.63% of the share capital, with VERBUND AG holding more than 10% and WIEN ENERGIE GmbH holding between 5% and 10%. All other shareholders hold less than 5%.
The first three quarters of the 2011/12 business year were still marked by the financial and sovereign debt crises. The persistent uncertainty increased volatility and created a difficult environment at the international stock exchanges. As a result, the euro also depreciated vis-àvis the most important currencies.
Rising 16.6%, the German DAX index recorded the biggest increase from October 2011 to June 2012, while Vienna's leading ATX index, by comparison, only gained 1.4%. The Dow Jones Euro Stoxx Utilities industry index, relevant for Burgenland Holding AG, by contrast, performed very poorly and even lost 11.0%.
In the second half of 2011, the European Central Bank reacted to the subdued economy and the still challenging situation by lowering its benchmark interest rate in two steps to 1.0%.
Contrary to the general trend, the shares of Burgenland Holding AG stood at EUR 32.00 at the end of June, thus virtually unchanged from September 30th, 2011. This corresponds to a market capitalisation of EUR 96m. For the first three quarters of 2011/12, daily trading volume averaged 25 shares. As of June 30th, 2012, the weighting of the share in Vienna's WBI index was 0.14%.
| Stock performance | 2011/12 Q1–3 |
2010/11 Q1–3 |
|
|---|---|---|---|
| Average daily volume | Number | 25 | 21 |
| Total share volume | EUR m | 0.16 | 0.17 |
| Highest price | EUR | 41.00 | 49.00 |
| Lowest price | EUR | 29.03 | 34.44 |
| Share price at the end of June | EUR | 32.00 | 37.88 |
| Market capitalisation at the end of June | EUR m | 96 | 114 |
| WBI weighting at the end of June | % | 0.14 | 0.13 |
| Burgenland Holding AG – Key figures | 2011/12 Q1–3 |
2010/11 | Change in % |
|
|---|---|---|---|---|
| Balance sheet total | EUR m | 76.6 | 73.61) | 4.1 |
| Equity | EUR m | 76.5 | 73.61) | 3.9 |
| Investment income | EUR m | 6.5 | 3.82) | 71.1 |
| Result for the period | EUR m | 6.3 | 3.72) | 70.3 |
1) As of September 30th, 2011
2) Q1–3 2010/11
In the first three quarters of 2011/12, investment income amounted to EUR 6.5m, which represents a significant increase of 70.3%2) compared to the corresponding period last year. This development was marked mostly by the rise in the dividend payout of BEWAG for the 2010/11 business year, which is back at the level of past years after it had been reduced by half the year before.
As of June 30th, 2012, the balance sheet total amounted to EUR 76.6m, thus 4.0% above the corresponding figure at the most recent balance sheet date of September 30th, 2011. This is due to the fact that the dividends from the associated companies BEGAS and BEWAG had already been received by that date. The equity ratio stood at 99.9% as of the balance sheet date of June 30th, 2012.
Due to the fact that the dividends from BEGAS and BEWAG from their net profits for the 2010/11 business year have already been received in the first three quarters of 2011/12, no major changes in the result are to be expected for the 2011/12 business year.
At the end of June 2012, BEGAS and BEWAG, the two gas and electricity providers from Burgenland, were merged retroactively as of September 30th, 2011. The company will comprise the business areas of generation, grids and technology as well as sales and service and will start operations as "Energie Burgenland AG" as of October 1st of the following business year. Burgenland Holding AG welcomes the merger and expects the synergies of the two companies to result in a sustainable increase in competitiveness, which should also have a positive impact on investment income in the long run.
1) The result for the period amounts to EUR 6.3m and not, as erroneously reflected in the quarterly report published on August 9th, 2012, to EUR 6.5m. The incorrectness of such result of the period is corrected through publishing this quarterly report.
2) Please note that the increase of the result for the period of 70.3% is based on a calculation with exact underlying figures. On the basis of rounded figures, the increase of the result for the period amounts to 71.1%, as reflected in the table above.
| Annual results 2011/12 | December 13th, 2012 |
|---|---|
| Results Q1 2012/13 | February 7th, 2013 |
| Annual General Meeting | March 22nd, 2013 |
| Ex-dividend day | March 28th, 2013 |
| Dividend payment | April 5th, 2013 |
| Results HY1 2012/13 | May 28th, 2013 |
| Results Q1–3 2012/13 | August 8th, 2013 |
| Annual results 2012/13 | December 12th, 2013 |
1) Preliminary
| Share capital | EUR 21.81m |
|---|---|
| Denomination | 3.0 million no-par bearer shares |
| Majority shareholder | EVN AG |
| Identification number (ISIN) | AT0000640552 |
| Ticker symbols | BHAV.VI (Reuters); BURG AV (Bloomberg); AT; BHD (Dow Jones) |
| Stock exchange listing | Vienna |
Technologiezentrum Marktstraße 3 A-7000 Eisenstadt Austria
Phone: +43 2236 200-24186 Fax: +43 2236 200-2030 E-mail: [email protected]
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