VERBUND AG — Earnings Release 2004

Nov 2, 2004

News Details

Ad-hoc | 2 November 2004 08:30

Verbund: Results Quarter 1-3/2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Verbund: Results Quarter 1-3/2004 Highlights: – Further significant increase of earnings achieved – Profitable growth of turnover in core markets – Continued debt reduction – Sales revenues increased by 21.9 % benefiting from higher wholesale price levels of agreements based upon market prices – Operating result significantly improved by 21.3 % due to expanding foreign business despite increased electricity purchases and higher purchase prices – Group result increased by 22.7 % due to higher investment income and anticipated tax effects resulting from the oncoming tax reform 2005 – Financial power enhanced again: Operating cash flow increased by 13.7 % to 388.2EURm – Net gearing reduced from 172.7 % to 139.1 % Results (EUR million) Sales revenues 2,202.6 +21.9 % Operating result (EBIT) 284.0 +21.3 % Group result 191.3 +22.7 % Operating Cash flow 388.2 +13.7 % For further information see the online-interim report under http://www.verbund.at/ end of ad-hoc-announcement (c)DGAP 02.11.2004 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt (General Standard) in Frankfurt; Freiverkehr in Berlin-Bremen und Stuttgart 020830 Nov 04