VERBUND AG — Earnings Release 2001

Nov 6, 2001

News Details

Ad-hoc | 6 November 2001 09:01

Österreichische Elektrizitätswirtschafts AG

1-3rd Quarter 2001 according to IAS Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Focal points – Good water supply (8 % above long-time average) – Recovery in wholesale prices compared to last year (+20 %) – Expansion of international business (53 % of sales revenues) – Improvement of sales to business customers in Austria > 100,000 kWh (market position No. 2) – Continued restructuring of the group – Reduction of indebtedness – Work on strategic alliances with ESTAG and E.ON – EBIT 2001 forecast: approx. 310 million EUR (+ 3 %) Business development: – Considerable sales increase (+ 25 %) through strong increase in international business (+113 %) and in the business customer segment (+31 %) – Continued drop in sales to provincial electricity companies (-15 %) – Expansion in trading leads to increase in electricity purchases (-120 %) – Reduction of payroll expenses (+ 9 %) especially through early retirement – Lower maintenance costs (+ 59 %) – Improved financial result (+ 36 %) through reduction of indebtedness (approx. 500 million EUR) Development in sales: (GWh) Total Austria 18,551 + 2.8 % Total abroad 20,631 + 90.0 % Total sales 39,182 + 35.6 % Performance ratios (million EUR) Sales revenues 1,154.1 + 24.9 % Operating result (EBIT) 224.1 + 0.5 % Profit before tax 128.5 + 75.1 % Group result after minority interests 84.6 + 91.1 % Earnings/share (EUR) 2.74 + 90.3 % More information will be available shortly: http://www.verbund.at/investor end of ad-hoc-announcement (c)DGAP 06.11.2001 ——————————————————————————– WKN: 074640; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Hamburg und Stuttgart 060901 Nov 01