Ad-hoc | 30 August 2002 07:59

EVN AG english

Development of business in the first three quarters of 2001/02 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Development of business in the first three quarters of 2001/02 (October 1, 2001 – June 30, 2002) * Sales up despite difficult general conditions * Results negatively affected by increased expenses * Next step in Austrian electricity- and gas solution 2001/02 Change % Q. 1-3 Volumes sold Electricity 1) GWh 4,894 -1.4 Gas 1) m m3 1,106 +1.4 Heating GWh 689 +5.4 Water m m3 17.4 +9.1 EURm Sales revenues 904.3 +9.4 Operating profit (EBIT) 157.6 +5.9 Profit before tax 141.8 -9.4 1) Sales to endcustomers Sales volumes and revenues EVN energy revenues for the first three quarters were well up on those of the preceding year at EUR 833.7m, which represents an increase of 8.5%. Other revenues were also markedly higher than in the previous year, rising by 21.7%, due to both the expansion of the scope of consolidation (in particular evn wasser) and increased sales revenues in the service sector. In total, EVN sales revenues during the period under review amounted to EUR 904.3m, which was 9.4% higher than the comparable figure for last year. Result The overall rise in expenses was more than compensated for by the increase in sales revenues during the period under review. Consequently, despite difficult general conditions, EVN’s operating profit (EBIT) for the first three quarters of 2001/02 amounted to EUR 157.6m, which was 5.9% higher than the comparable figure for the preceding year. By contrast, the financial result of EUR -15.8m was well below that of the previous year. Apart from an increase in interest expenses caused by EVN’s altered financial structure, the main reason for this drop related to provisions for loans. All in all, EVN achieved a profit before tax of EUR 141.8m, which was EUR 14.7m or 9.4% lower than the figure for the same period of 2000/01. In the period under review, the cash-flow from the result increased by EUR 41.0m or 18.8% to EUR 259.2m. Outlook EVN CEO Rudolf Gruber, “despite difficult conditions, during the first three quarters EVN successfully exceeded its operating profit for the same period of the preceding year. The preparations for the consolidation of the Austrian electricity and gas market during recent months have generated a future- oriented perspective with regard to the competitive corporate structures and positioning demanded by a deregulated market. These benefits will form a foundation for sustained, positive corporate development in the coming years.” EVN’s Letter to Shareholders 3rd Quarter 2001/02 can be downloaded from http://www.evn.at end of ad-hoc-announcement (c)DGAP 30.08.2002 ——————————————————————————– WKN: 074105; ISIN: AT0000741053; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt in Frankfurt und München; Freiverkehr in Berlin, Hamburg und Stuttgart 300759 Aug 02