DGAP-News: EVN AG: EVN Annual Result 2009/10
(firmenpresse) - DGAP-News: EVN AG / Key word(s): Final Results/Final Results
EVN AG: EVN Annual Result 2009/10
16.12.2010 / 08:00
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(1. October 2009 - 30. September 2010)>Sales development in the energy business shaped by cold weather,
significant revenue increase in the environmental service sector>Positive development in the financial results due to higher income from
investments as well as lower interest expenses>Start of operation of the longest district heat transmission pipeline
in Austria (Dürnrohr - St. Pölten)>Start of operation of EVN's most powerful photovoltaic plant in
Blatets,Bulgaria>Concession agreement for the construction of natural gas distribution
and supply in Split, Croatia>Commissioning of line 3 of the waste incineration plants in Dürnrohr>Opening of wastewater treatment plants in Istanbul, Turkey and Stettin,
Poland>Contract awarded to construct a new waste incineration facility in
Moscow and two wastewater treatment plant at Cyprus>Successful capital increase at a size of 10.0% in October-November 2010
2009/10
EURm Change
in %
Revenue 2,752.1 +0.9
EBITDA 416.6 +11.6
EBIT 187.3 +6.9
Group net profit 207.0 +16.3
The energy sector environment in the 2009/10 financial year (1. Oktober
2009 - 30. September 2010) was characterised by lower temperatures in
Austria and Macedonia and higher temperatures in Bulgaria. Due to the
positive economic development, the prices for crude oil increased in the
2009/10 financial year. The natural gas prices decreased, however, due to
continued large inventories and high volumes available on the spot markets
as well as the growing electricity supply from renewables energy sources.
The prices for CO2-emission certificates decreased slightly. The market
prices for electricity remained below the previous year's level.
Stable revenue
EVN posted a slight increase in revenue by 0.9% to EUR 2,752.1 in the
2009/10 financial year. This development was despite lower revenue from
Generation, Energy Trade and Supply as well as Energy Supply South East
Europe. The Network Infrastructure Austria segment benefited from
weather-related high sales volumes in the electricity and gas networks as
well as higher gas network tariffs. Revenue of the Environmental Services
segment increased significantly, mainly due to the completion of the third
waste incineration line in Dürnrohr and the higher volume in the
international project business.
Significant earnings improvement
The business development in the 2009/10 financial year was characterised by
higher sales volumes in the light of a reduction in 'Electricity purchases
and primary energy expenses'. It was also impacted by an increase in the
item 'Cost of materials and services', 'Personnel expenses' as well as
higher depreciation and amortisation. Based on this development, EBITDA
rose 11.6 % or EUR 43.2m, to EUR 416.6m and the EBIT improved by 6.9% or
EUR 12.1m, to EUR 187.3m. Supported by the higher income from investments
andthe improved interest results, the financial results of EVN rose 64.5%
or EUR 32.8m, to EUR 83.6m. The net profit after income tax increased by
15.5% to EUR 228.7m. The Group net profit rose by 16.3% to EUR 207.0m,
resulting in earnings per share of EUR 1.27 (previous year 1.09).
Dividend proposal
Based on EVN's success in this reporting period 2009/10, the Executive
Board will propose to the Annual General Meeting (held on the 20 January
2011) to distribute a dividend of EUR 0.40 per share for the 2009/10
financial year, compared to EUR 0.37 per share in 2008/09.
Outlook
For the financial year 2010/11, EVN expects total revenue at the previous
year's level and stable results from operations. The financial results
should also be comparable to the previous year's level, however, this
expectation is significantly contingent on the development in the energy
sector that will affect the EVN's investments engaged in the primary energy
and electricity business. In total, Group net profit thus should be
comparable to the level achieved in the succesful 2009/10 financial year.
EVN will strive to maintain its attractive dividend policy in line with its
value-oriented growth strategy.
For the 2010/11 financial year, EVN plans an investment volume in
intangible assets and property, plant and equipment at previous year's
level. The focus is unchanged on the investment in the Network
Infrastructure Austria segment and Energy Supply South East Europe segment.
To ensure security of supply in a growing demand environment, the
investment in electricity and gas network in Lower Austrian will remain on
a high level. EVN is also continuing to massively invest in upgrading
distribution networks in South Eastern Europe.
EVN Full Report 2009/10
In 2010, EVN decided to justify the publications Annual Report and
Sustainability Report and to further integrate them. All data and facts on
business development as well as sustainability can be found in EVN's Full
Report 2009/10.
The complete report for the financial year 2009/10 is on the internet under
www.investor.evn.at.
End of Corporate News
16.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: EVN AG
EVN Platz
2344 Maria EnzersdorfÖsterreich
Phone: +43-2236-200-12294
Fax: +43-2236-200-82294
E-mail: info(at)evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Listed: Foreign Exchange(s) Wien (Amtlicher Handel / Official
Market)
End of News DGAP News-Service
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106638 16.12.2010
Datum: 16.12.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 32872
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