Energiekontor AG

Earnings Release • Feb 8, 2002

News Details

Corporate | 8 February 2002 15:43

Energiekontor AG english

Energiekontor AG on track for growth again Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Energiekontor AG on track for growth again Underlying company statistics do not back up the sudden drop in the share price Bremen, 8th February 2002. Once more Energiekontor AG is working flat out to get wind power projects up and running in the current financial year. “We are optimistic that we shall achieve the targets we have set ourselves, because we do have a well-filled project pipeline not only within Germany but in other countries too, which we are working through to plan”, emphasised the chairman of the executive board Dr Bodo Wilkens. He said that there was no justification whatsoever for the current drop in the share price. He went on to say that there had not been any changes at all in the basic company statistics justifying a loss in value. The price of the Energiekontor share had come under pressure as a result of reports in the media. These reports which were essentially based on speculation and false assumptions were implying that the company had problems with investors, whose profit expectations had not been fulfilled in full by three wind farms owned by the company. In fact the profits from these parks are indeed below the profits forecast. Negotiations are being conducted on a possible repurchase of the shares. But this would not exert a notable influence on the company balance sheet. “In seeking to balance the interests of the investors with those of the company we are acting in the interests of our shareholders”, is how Dr Bodo Wilkens justified the negotiations. Industry analysts have judged the approach of Energiekontor as being exemplary. Of much greater significance is the upturn in the course of business. Several master agreements are about to be signed with well-known manufacturers of wind power plant, for example. This will secure the profit potential of new wind farms. In addition to this, the company will soon be able to sell within Germany shares in wind farms located outside Germany. Initially these shares will be in “Zarax I” on the Greek island of Euböa. Other projects outside Germany will follow shortly. This means that Energiekontor AG will be launching a new product in to the capital investment market and once more it is confirming its role as a pioneer in the wind power industry. Contact: Martin Bretag, Head of Investor Relations, Tel.: (+49-421) 3304-210, Mobile: (+49-172) 4554573, E-Mail: ir@energiekontor.de end of message, (c)DGAP 08.02.2002