BKW Energie AG

BKW FMB Energy Ltd: Positive revenue and profit performance - Preliminary information on 2005 results

    Berne (ots) - Fiscal 2005 has been a good year for BKW FMB Energy Ltd. Despite various negative special effects such as damage to the Leibstadt nuclear power plant generator and below-average inflows to hydroelectricity plants, the annual result once more improved. In 2005 Group profit rose year-on-year by 40.9% to CHF 306.7 million, while total operating revenue increased by 12.4% or CHF 218.9 million to CHF 1,989.1 million. This result was attributable in particular to good performance in the internal market, in the electricity trading and international sales areas, as well as a highly satisfactory financial result.

    Total operating revenue for 2005 rose by 12.4% from CHF 1,770.2 million to CHF 1,989.1 million as a result of higher prices on the international market and positive sales performance in Switzerland. Sales in Switzerland in the cantons of Berne, Jura, Basle Country, Neuchâtel, Solothurn and Obwalden rose by 1.4% to 7,058 GWh due to higher demand from existing customers and the acquisition of new customers. Revenue from trading was also up by 3.2%. BKW's subsidiaries in Germany and Italy expanded their activities in 2005 and improved energy sales by 2.8%. The results were positively impacted towards year-end by the opening of the Bernina line, which virtually doubled BKW's transmission capacity to Italy. Electricity generation fell year-on-year by 538 GWh from 9,413 to 8,875 GWh, largely as a result of loss of production at the Leibstadt nuclear power plant. By contrast, uninterrupted production at Mühleberg nuclear power plant resulted in an annual output of 2,856.6 GWh. Hydroelectricity volumes fell by 2.3% from 3,572 GWh to 3,489 GWh on account of severe weather conditions in the second half-year. Output dropped at run-of-river power plants due to low precipitation volumes.

    Operating income before interest, taxes, depreciation and amortisation (EBITDA) increased by 11.9%, ending the year at CHF 431 million, while profit was up 40.9% at CHF 306.7 million thanks to the excellent financial result.

    Based on these results, a dividend of CHF 2.50 per share (2005: CHF 1.80 per share) will be proposed to the General Shareholders' Meeting on 19 May 2006.

    Forthcoming dates

    Annual press conference on the 2005 financial results: 6 April 2006 in Berne

    General Shareholders' Meeting: 19 May 2006, in Hall 220 of the BEA complex, Berne

    2006 half-yearly report: 19. September 2006

Facts & Figures

Income Statement         2005                  2004                         % change
                                  CHF (million)    CHF (million)

Total operating
revenue                      1,989.1                1,770.2                      12.4

Operating income
(EBITDA)                    431.0                  385.1                         11.9

Net profit for
the year                  306.7                    217.7                         40.9

Electricity business        2005              2004                         % change
                                        GWh                GWh

Electricity sales
Switzerland                  7,058                6,962                         1.4

Electricity sales
International                3,774              3,672                          2.8

trading                         7,044            6,829                            3.2

energy                            665                  541                          22.9

Transmission losses
and own consumption        363                 305                            19.0

Total sales                18,904              18,309                          3.3

Volume generated
by hydroelectric
plants                         3,489              3,572                         -2.3

Volume generated
by nuclear power
plants incl.
contracts                    5,371            5,828                         -7.8

Volume generated
by decentral plants        15                  13                         15.4

Trade (purchases)
and energy buy-backs  10,029         8,896                          12.7

Total purchases          18,904        18,309                          3.3

ots Originaltext: BKW FMB Energie AG
Internet: www.presseportal.ch

BKW FMB Energie AG
Antonio Sommavilla
Media Communications
Viktoriaplatz 2
3000 Bern 25
Tel.: +41/31/330'51'07
Fax;  +41/31/330'57'90
E-Mail: info@bkw-fmb.ch

Weitere Meldungen: BKW Energie AG

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