EVN AG — Earnings Release 2004

Aug 25, 2004

News Details

Corporate | 25 August 2004 08:09

Positive business development of EVN AG in the first three quarters of 2003/04

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Positive business development of EVN AG in the first three quarters of 2003/04 (October 1, 2003 – June 30, 2004) · Increase in electricity, heating, water and waste incineration sales revenues. · Marked improvement in the operating result (EBIT). · Tangible increase in the result from investments. · Period net result raised considerably. · Capital increase successfully completed – 3.3 million new shares placed both nationally and internationally. · EVN exclusive negotiating partner for privatisation of Bulgarian electricity supply. 2003/04 Change Q. 1-3 % EUR m Sales revenues 1) 931.2 +6.5 Operating result (EBIT) 161.8 +18.6 Result before tax 171.9 +0.1 Period net result 139.4 +16.5 1) From January 1, 2003, excluding gas key account sales and trading due to the transfer to EconGas EVN was able to continue its positive business development in the first three quarters of 2003/04 and implement major additional steps towards further profitable growth through the acquisition of WTE and the start-up of the Dürnrohr waste incineration plant. Due to the satisfactory trend in virtually every business segment, as well as an improvement in the result from investments, the Group net result is clearly up on that of the preceding year. EVN Group sales revenues amounted to EUR 931.2 m, which was 6.5% higher than the figure for the preceding year. The EVN operating result (EBIT) for the first three quarters of 2003/04 went up by 18.6% to EUR 161.8 m. This was mainly due to improvements in the energy business as well as the contributions to results of the new water and waste incineration segments. At EUR 10.1 m, the financial result was below the EUR 35.3 m of the preceding year. This was primarily the result of one-off effects derived from the valuation and reversal of financial instruments, which occurred last year and were not repeated in the period under review. EVN’s investments performed in a highly satisfactory manner. This led to an improvement in the result from investments by EUR 22.1 m to EUR 31.5 m. At EUR 171.9 m, the result before tax was at the level of the preceding year. The release of provisions for deferred taxes relating to the cut in corporation tax from 34% to 25% agreed for 2005 led to a decline in taxes on profit. This reltued in an inprovement of the period net result by 16.5% to EUR 139.4 m. Earnings per share (EPS) rose by 16.5% to EUR 3.71. Outlook EVN CEO Rudolf Gruber, “The outlook for the EVN Group for the current 2003/04 financial year is positive. On the basis of development in the first three quarters, both the operating result and the net result for the year should exceed the figures for 2002/03.” EVN’s Letter to Shareholders for the 3rd Quarter 2003/04 can be downloaded from http://www.investor.evn.at For further information contact: Mr. Georg Waldner (Investor Relations Officer) +43 2236 200 12718 Dr. Michael Längle (Chief Financial Officer) +43 2236 200 12324 Note to editors: EVN is a leading integrated Austrian energy and infrastructure company, which provides some one million customers in Lower Austria, the country’s largest federal province, with electricity, gas, heat, water, waste incineration and related services on a one-stop shop basis using highly modern infrastructure. In an increasingly competitive market environment, EVN has turned to partnerships with other Austrian energy companies in the electricity and gas areas and has thus successfully established a competitive international position in the fields of energy trading and sales in continental Europe. With its most recent acquistion, the German water services company WTE, EVN Group is now present in 11 CEE countries. end of message, (c)DGAP 25.08.2004 ——————————————————————————– WKN: 074105; ISIN: AT0000741053; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt in Frankfurt (General Standard, WKN 878279) und München; Freiverkehr in Berlin-Bremen und Stuttgart 250809 Aug 04