The third largest German energy company presents its annual report for 2001: In 2001, EnBW achieved significant growth in terms of turnover and earnings.
Karlsruhe, Germany (ots)
-Turnover increased by 34.9 to 7.861 thousand million Euros and the annual surplus by 51.5 percent to 271.9 million Euros.
In 2001, EnBW achieved significant growth in terms of turnover and earnings: The turnover (without electricity tax) of the EnBW Group increased by 34.9 percent to 7.861 thousand million Euros. The annual surplus of the third largest German energy company increased by 51.5 percent to 271.9 million Euros. The result of normal business activity improved by 22.8 percent to 306.5 million Euros. This is all revealed in the EnBW annual report for 2001 which was published on Tuesday in Karlsruhe.
"Even in the fourth year of the liberalised energy market, EnBW has continued to expand successfully", said Dr. Reinhard Volk, the member of the board of EnBW responsible for finance, at the EnBW balance sheet press conference 2001. Even without taking into account the effects of the consolidation of the Neckarwerke Stuttgart AG (NWS) and Salamander AG, taking up a whole year, EnBW's turnover increased in the previous year, pointed out Dr. Volk. In 2001, EnBW also managed to gain clients and market share in Germany and accessible European energy
markets both directly and in partnership with other companies. The continued efforts to optimise company structures and processes also bore fruit.
In the electricity sector, EnBW's core business, the third largest German energy company also expanded in all customer areas in 2001. Overall, electricity
turnover (after electricity tax) increased by 1,072 million Euros or 25.6 percent to 5,257 million Euros. Gas turnover has more than doubled from 316 million Euros to 689 million Euros, especially thanks to the full consolidation of NWS. Overall, the energy turnover of the EnBW Group increased by 1,505
million Euros or 32.8 percent from 4,593 million Euros to 6,098 million Euros. In terms of volume, electricity sales of the EnBW Group in 2001 increased by 19.4 TWh (thousand million kilowatt hours) - or 24.9 percent - from 77.9 TWh to 97.3 TWh. Including the electricity sales figures of companies in which EnBW has a stake without being at the same time an electricity pre-supplier, the
electricity sales of the EnBW group amounted to 108.4 TWh in 2001.
Turnover in the waste disposal sector in 2001 remained exactly at the level of the previous year with 259 million Euros. EnBW turnover in the Industry and Services sector with the Salamander Group as a major player, increased by 527 million Euros or 54.0 percent to 1,504 million Euros.
Materials expenditure increased in 2001 by 41.9 percent to 4,896.5 million Euros. Staffing expenditure increased by 20.9 percent to 1,615.4 million Euros. The average number of employees in the EnBW Group was 37,053 in 2001 compared to 27,327 in 2000. The increases in these three areas are mainly due to the
expansion of the group and consolidation effects.
Investments by the EnBW Group increased in 2001 by 1,517 million Euros or 78.7 percent to 3,445 million Euros. These figures above all are a reflection of EnBW's active strategy of taking stakes in companies in Germany and Europe. The stocks and shares belonging to fixed assets amounted to 4,243.8 million Euros on the 31st December 2001 - 134.3 million Euros more or 3.3 percent more than at the beginning of 2001.
According to financial managing director Dr. Volk the confidence of the investors and reputable rating agencies supports EnBW's growth strategy: The first benchmark loan tranches in February within the framework of the "Debt Issuance Program (DIP)" were "very positively accepted" by the market. Prior to
this, the rating agencies Standard & Poor's and Moody's had explicitly confirmed their favourable assessment of EnBW's financial standing.
The dividend for the financial year 2001 is increased from 0.46 to 0.66 Euro per share by the appropriate decision.
Appendices:
Appendix 1 At a glance
Appendix 2 EnBW Group Balance Sheet on the 31st December 2001 Appendix 3 EnBW Group Profit and Loss Account
from the 1st January to the 31st December 2001 EnBW Energie Baden-WŸrttemberg AG
EnBW Energie Baden-WŸrttemberg AG Company Communication
Appendix 1 to the press release/handout 2 for the EnBW balance sheet press conference 2002
At a glance
EnBW Group 2001 2000 1999 1998 Outside turnover
Energy Million Euros 6,098 4,593 3,710 3,937 Waste disposal Million Euros 259 259 236 201 Industry and
Services Million Euros 1,504 977 52 29 Million Euros 7,861 5,829 3,998 4,167 Annual surplus Million Euros 272 180 138 367 Cash flow Million Euros 1,008 732 918 1,181 Investments
Tangible and
intangible assets Million Euros 701 1,108 405 678 Financial fixed
Assets Million Euros 2,744 820 562 1,335 Million Euros 3,445 1,928 967 2,013 Fixed assets Million Euros 11,833 11,934 7,350 7,260 Current assets Million Euros 6,817 5,119 4,883 3,721 Equity capital Million Euros 2,483 2,434 1,726 1,722 Average number of
employees in the year Number 37,053 27,327 12,581 12,605
EnBW AG
Subscribed capital Million Euros 640 640 640 639 Equity participation
Result Million Euros 213 314 497 839 Interest result Million Euros -136 -8 -85 54 Annual surplus Million Euros 162 111 111 390 Dividend Million Euros 161 112 111 111 Dividend per share Euro 0.66 0.46 0.46 0.46 Tax credit per share Euro - 0.20 0.20 0.20
Energy sales of the EnBW Group in thousand million kWh 2001 Electricity
(including electricity supply companies
in which stakes are held) 108.4 Electricity 97.3 Gas 18.2 District heating in thousand million kWhth 3.6 Breakdown of electricity supplied by the EnBW group
according to the primary energy sources 2001 Coal, oil, gas 23.0 % Nuclear energy 40.2 % Water and other renewable energies 9.8 % Primary energy not known 27.0 %
Appendix 2 on the press release / handout 2 for the EnBW balance sheet press conference 2002
EnBW Group
Balance sheet on the 31st December 2001
Assets 31.12.2001 31.12.2000 Absolute Change Million Million change in % Euros Euros Fixed assets Intangible assets 905,7 987,7 -82,0 8,3 Fixed assets 5.136,9 5.190,8 -53,9 -1,0 Financial fixed Assets 5.790,3 5.845,6 -55,3 -0,9 11.832,9 11.934,1 -101,2 -0,8 Current assets Reserves 706,5 715,0 -8,5 -1,2 Debtors and other
fixed assets 4.522,7 2.586,6 1.936,1 74,9 Securities 682.3 970.4 -288.1 -29.7 Liquidity 905.4 846.9 58.5 6.9 6,816.9 5,118.9 1,698.0 33.2 Prepayments and accrued income 93.8 95.2 -1.4 -1.5 18,743.6 17,148.2 1,595.4 9.3 Liabilities 31.12.2001 31.12.2000 Absolute Change Million Million change in % Euros Euros Equity capital Subscribed capital 640.0 640.0 0.0 0.0 Capital reserves 634.0 634.0 0.0 0.0 Profit reserves 136.3 162.2 -25.9 -16.0 Interests of
other shareholders 907.2 883.1 24.1 2.7 Group profit 165.0 115.0 50 43.5 2,482.6 2,434.3 48.3 2.0 Special items 1,029.7 1,097.7 -68 -6.2 Reserves 10,775.2 10,593.6 181.6 1.7 Liabilities 4,388.3 2,951.6 1,436.7 48.7 Prepayments and accrued income 67.9 71.0 -3.1 -4.4 18,743.6 17,148.2 1,595.4 9.3
Appendix 3 to the press release / handout 2 for the EnBW balance sheet press conference 2002
EnBW Group
Profit and loss account
From the 1st January to the 31st December 2001
Million Million change in % Euros Euros Turnover 8,323.0 6,083.4 2,239.6 36.8 Electricity tax -461.8 -254.5 -207.3 -81.4 Turnover less electricity tax 7,861.2 5,828.9 2,032.3 34.9 Changes in stock -6.9 25.0 -31.9 -127.6 Other work performed
for own purposes 41.6 46.2 -4.6 -10.0 Other operating earnings 856.4 591.1 265.3 44.9 Material expenditure -4,896.5 -3,451.2 -1,445.3 -41.9 Staff expenditure -1,615.4 -1,336.1 -279.3 -20.9 Depreciation -724.6 -586.6 -138.0 -23.5 Other operating Expenditure -1,311.3 -1,084.6 -226.7 -20.9 Financial result 102.0 216.8 -114.8 -53.0 Result of normal business 306.5 249.6 56.9 22.8 Taxes -34.6 -70.0 -35.4 50.6 Annual surplus 271.9 179.5 92.4 51.5 Interests of other Shareholders -91.2 -76.6 -14.6 -19.1 Withdrawals/allocations to profit reserves -15.7 12.1 -27.8 -229.8 Group profit 165.0 115.0 50.0 43.5
ots Original Text: EnBW Energie Baden-WŸrttemberg AG Internet: http://www.presseportal.de
EnBW Energie Baden-WŸrttemberg AG Unternehmenskommunikation
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