Ad-hoc | 26 February 2003 08:00

EVN AG english

Development of business in the first quarter of 2002/03 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 quarter of 2002/03 (October 1, 2002 – December 31, 2002) * Result before tax maintained at a high level. * “Austrian gas solution” – ECONGAS commences its operative activities. * “Austrian electricity solution” – anti-trust procedure enters into a more detailed investigation. 2002/03 Change Q. 1 % Volumes Electricity GWh 2,752 +12.1 sold Gas 1) m m3 613 -20.2 Heating GWh 279 +4.4 Water m m3 5 +0.0 EUR m Sales revenues 350.8 -5.6 Operating result (EBIT) 71.3 -5.9 Result before tax 75.7 +0.4 1) Incl. trading and sales to other energy companies. For further information contact: Georg Waldner (Investor Relations Officer) Tel. +43 2236 200 12718 Michael Längle (Chief Financial Officer) Tel. +43 2236 200 12324 Note to editors: EVN is a leading Austrian energy services company, which supplies electricity, gas, and heating to some 900,000 customers mainly in Lower Austria, the country’s largest federal province. EVN has also successfully entered the water business, waste incineration, and municipal services. A key role will be assigned to EnergieAllianz, a joint venture of EVN, Wien Energie, Energie AG, Linz AG, and the Burgenland energy companies, BEWAG/BEGAS. Together, the companies allied in EnergieAllianz are market leaders in Austria with a total of 4 million customer accounts. EnergieAllianz forms the basis for further consolidation of the Austrian electricity and gas market through partnerships with OMV and Verbund. Sales volumes and revenues Following a particularly successful first quarter of the 2001/02 financial year EVN succeeded in largely maintaining this high level during the reporting period. Despite unfavourable general conditions, total revenues amounted to EUR 350.8 m, which was 5.6% below the figure of the previous year. EVN energy revenues of EUR 328.0 m were 6.2% down on the comparative total of the previous year. While electricity revenues rose by 1.3% to EUR 164.3 m during the first quarter of 2002/03, sales revenues in the gas area fell by 14.0% to EUR 150.0 m, as compared to the high figure of the preceding year, which was well above average due to one-off transactions. Heating revenues and other sales revenues rose by a total of EUR 1.3 m, or 3.6%. Result In line with lower sales revenues the operating result decreased by 5.9% to EUR 71.3 m. The financial result improved markedly compared to that of the previous year. In total, as compared with the first quarter of the last business year, the profit before tax rose by EUR 0.3 m or 0.4% respectively to EUR 75.7 m. Net income for the first quarter 2002/03 was EUR 1.3 m, or 2.6%, up on the comparable figure for the preceding year at EUR 51.0 m. end of ad-hoc-announcement (c)DGAP 26.02.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Outlook EVN CEO Rudolf Gruber, “Business development in the first three months of the new financial year provides a solid basis for the continuation of positive business within the EVN Group. However, it should be noted that due to the highly seasonal nature of the energy industry as well as the fluctuation of temperature in the course of the year, the figures for this quarter represent only a limited indication of the results for the full financial year. Against the background of eastward EU enlargement in 2004, the location of the EVN supply area on the borders of the new member states means that it will benefit from the increased economic dynamism of the entire region. With its integrated range of energy and infrastructure services, EVN is in an excellent position to take advantage of this positive development. In general, Eastern Austria and with it the core supply area of EnergieAllianz, will be especially favoured by these changes. Furthermore, we anticipate additional impulses from the partnerships with Verbundgesellschaft and OMV.” EVN’s Letter to Shareholders for the 1st quarter 2002/03 can be downloaded from http://www.investor.evn.at ——————————————————————————– WKN: 074105; ISIN: AT0000741053; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt in Frankfurt (General Standard) und München; Freiverkehr in Berlin und Stuttgart 260800 Feb 03