VERBUND AG — Earnings Release 2003

Nov 4, 2003

News Details

Ad-hoc | 4 November 2003 08:30

Österreichische Elektrizitätswirtschafts AG english

Verbund: Results Quarter 1-3/2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Highlights: * Operating result and group result show sustainable growth * Continued significant degearing * Austrian electricity solution: Meeting the conditions and obligations pending * Hydro power generation below average, increased thermal generation * Higher sales revenues (+20 %) – higher volumes in all sales channels, reduced trading volumes * Wholesale electricity prices with stable upward trend – spot market prices: base +26 %, peak +30 %, increasing forwards * Positive financial result – significant debt repayment, lower interest rates and currency gains * Operating result +6 %, group result +42 % * Strong cash-flow from operating activities * Net gearing decreased from 264 % to 194 % Results (EUR million) Sales revenues 1,807.4 + 20.4 % Operating result (EBIT) 234.2 + 5.9 % Group result 155.8 + 41.5 % Operating cash flow 341.4 + 38.1 % For further information see the online-interim report under http://www.verbund.at/ end of ad-hoc-announcement (c)DGAP 04.11.2003 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt (General Standard) in Frankfurt; Freiverkehr in Berlin-Bremen und Stuttgart 040830 Nov 03