VERBUND AG — Earnings Release 2002

Nov 6, 2002

News Details

Ad-hoc | 6 November 2002 08:30

Österreichische Elektrizitätswirtschafts AG english

Verbund: Results Quarter 1-3/2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Highlights: – Noticeable increase in sales revenues, slightly lower operating result due to negative external factors, strongly increased net income – The supervisory boards of the partner companies have approved the planned “Austrian Electricity Solution” – Verbund intends to notify the “Austrian Electricity Solution” for merger control approval with the EU commission by the end of November 2002 – Sales revenues expanded mainly due to extention of trading activities and success in domestic sales as well as in sales abroad – Operating result slightly lower due to difficult economic conditions, unfavourable water availability and flood damages – Improved financial result – Net income strongly increased – Operating cash flow slightly lower Results (EUR millions) Sales Revenues 1,500.8 + 30.0 % Operating Result (Ebit) 221.1 – 1.4 % Financial Result – 77.8 + 18.7 % Net Income 110.2 + 30.3 % Operating Cashflow 247.2 – 9.5 % Further information in the shareholder letter under http://www.verbund.at/investor/ end of ad-hoc-announcement (c)DGAP 06.11.2002 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Hamburg und Stuttgart 060830 Nov 02