VERBUND AG — Earnings Release 2002

Jun 25, 2002

News Details

Ad-hoc | 25 June 2002 08:30

Österreichische Elektrizitätswirtschafts AG

Verbund: Results Quarter 1/2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Highlights: – Positioning as low cost producer of environmental friendly hydro power in Europe – Implementation of strategic alliance Verbund/ESTAG – Negotiations about “Austrian electricity solution” – Sales revenues expanded mainly due to extention of trading activities and success in domestic sales as well as in sales abroad – Expenses for electricity purchases higher due to extention of trading activities, payroll expenses stable, other operating expenses lower – Operating result improved due to success in turnover and restrictive cost management – Financial result burdened with unrealised, valuation-related currency losses caused by strong Swiss franc and application of IAS 39 – Group result lower due to burdened financial result – Operating cashflow further increased Results (EUR millions) Sales revenues 607.7 + 45.6 % Operating result (Ebit) 83.6 + 7.8 % Financial result – 35.8 – 74.9 % Group result 28.5 – 27.4 % Operating cashflow 84.7 + 12.8 % Further information in the shareholder letter under http://www.verbund.at/investor/ end of ad-hoc-announcement (c)DGAP 25.06.2002 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Hamburg und Stuttgart 250830 Jun 02