Ad-hoc | 27 February 2008 07:59
Österreichische Elektrizitätswirtschafts AG / Final Results
Release of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Verbund, Austria's leading electricity company, once again generated a very
good result in fiscal 2007. This confirms the successful growth strategy of
the group. The positive development is also reflected in the performance of
the Verbund share. The value of the share increased significantly in spite
of the turbulence on the international financial markets. On the basis of
the very positive result, the Managing Board will propose a dividend
increase of 20 % to the General Meeting.
The sales revenue of the Verbund Group increased by 5.6 % to € 3,038.3
million. The operating result rose by 13.6 % to € 916.1 million and the
group result was up 15.6 % at € 579.2 million. The control-specific group
ratios for the Verbund Group were also significantly improved: Economic
Value Added (EVA) rose by 15.3 % to € 405.8 million. Net gearing was
reduced from 73.7 % to 65.9 % and the operating cash flow was up € 53.8
million at € 807.6 million. The EBIT margin rose from 28.0 % to 30.2 %. The
value of the Verbund share increased by 18.5 % in 2007.
On the basis of this result, the Managing Board of the Verbund Group will
recommend to the General Meeting that the dividend be increased by 20 %
from € 0.75/share to € 0.90/share.
Ratios Unit 2006 2007 Change
Sales revenue million € 2,878.2 3,038.3 5.6 %
Operating result million € 806.5 916.1 13.6 %
Group result million € 501.1 579.2 15.6 %
Economic value added million € 351.9 405.8 15.3 %
Net gearing % 73.7 65.9 10.6 %
Operating cash flow million € 753.9 807.6 7.1 %
In fiscal 2007, Verbund managed to increase its average sales prices in the
European electricity markets in spite of the strong decline in the spot
market prices. This is attributable to the consequent hedging strategy
whereby approx. 60 % of the electricity that was generated was already sold
in 2006 on a year-ahead basis for 2007. The hydro coefficient lay at 0.97
in 2007 and was therefore 3 % below the long-term average of the last 30
years.
Contact:
Mag. Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor@verbund.at
27.02.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Österreichische Elektrizitätswirtschafts AG
Am Hof 6A
1010 Wien
Österreich
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: andreas.wollein@verbund.at
Internet: www.verbund.at
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart, München; Foreign
Exchange(s) Wien
End of News DGAP News-Service
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