VERBUND AG — Earnings Release 2001

Jul 24, 2001

News Details

Ad-hoc | 24 July 2001 09:05

Österreichische Elektrizitätswirtschafts AG

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– – Further consolidation of the Austrian electricity market due to merger of electricity activities of Verbund and Estag – Bundeling of hydro generation activities of Verbund and E.ON to become one of the largest hydro power producer in Europe under the leadership of Verbund – Strengthening of the domestic competitiveness by creating the joint venture Raiffeisen Ware Austria for the acquisition of end customers – Electricity supply increased significantly due to the successful expansion of trading business – Sales revenues improved markedly because of foreign and domestic industry customers – Expenses for electricity purchases increased due to expansion of trading business; all other expenses reduced – EBIT stable despite of almost full market opening for Verbund – Net income after minorities increased due to improved financial result, explained by degearing and a positive development of foreign currency debts Development of Supply: (GWh) Domestic Supply 12,556 + 4.4% Foreign Supply 12,548 + 72.6% Total Supply 25,105 + 30.1% Key Figures (Mio. EUR): Sales Revenues 761.9 + 18.5% Total Expenses – 648.3 – 21.6% EBIT 147.1 + 0.1% Profit after Tax 63.5 + 47.4% Net Profit after Minorities 62.2 + 74.6% Further information available shortly at http://www.verbund.at/investor end of ad hoc announcement (c) DGAP 24.07.2001 ——————————————————————————– WKN: 074640; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Hamburg und Stuttgart 240905 Jul 01