Meinl International Power Ltd.

MIP announces Financial Results 2007

Sound Start-up Performance and Growth Platform

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St. Helier, Jersey (euro adhoc) - Jersey, April 7, 2008: Meinl International Power has announced its first consolidated annual results, for the year ending 31 December 2007.

The consolidated financial statements of the group, which was established in June 2007 and had an IPO on the Vienna Stock Exchange´s unregulated Third Market in August 2007, reflect the sound performance of the young start-up company, which is investing in conventional and renewable energy assets across Europe.

Net Profit EUR 2.81m Net Profit for the year ended 31 Dec 2007 was reported at EUR 2.81m, with a financial result of EUR 9.84m and operating expenses at EUR 7.03m. Retained earnings carried forward were recorded at EUR 3.28m.

Total Assets EUR 565.9m Consolidated Total Assets of EUR 565.9m at year end 31 Dec 2007 are predominately composed of EUR 511.91m current assets, of which EUR 405.78m were commercial paper notes issued by AA-rated European banks and EUR 105.66m cash and bank balance. Non-current assets of EUR 54.03m comprise mainly energy assets, representing investments in three turn-key and development projects signed during the second half of 2007 in Hungary, Slovakia and Germany.

Total Shareholder´s Equity of EUR 543.50m for the financial year ended 31 Dec 2007 provides the group with a solid basis for the projected growth path during 2008.

Remarkable results within a short period of time Hans Haider, chairman of the company is optimistic that the group will perform to investor´s expectations: "Within a remarkable short start-up period, Meinl International Power has established itself as a financial investor in the European energy market. Carefully selecting individual transactions with reliable partners, avoiding expensive bidding auctions, and professional execution gives a leading edge in a dynamic market, offering investors an attractive springboard."

Meinl International Power´s management anticipates that the current financial year will see an accelerated pace of investments, as evidenced already in transactions pursued in the first quarter of 2008 in the Spanish photovoltaic and Eastern European energy market.

The financial statements, on which an unqualified auditor´s report was issued by KPMG Austria GmbH, are available as a download on the company´s webpage The company will issue its annual report before the annual general meeting scheduled for 14 May 2008, to be held in Vienna.

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ots Originaltext: Meinl International Power Ltd.
Im Internet recherchierbar:

Further inquiry note:
Dr. Thomas Roznovsky, Tel. +421 2 526 217 80 Meinl Power Management SK

Branche: Energy
ISIN:      AT0000A05W59
Index:    other listings
Börsen:  Wiener Börse AG / Third Market

Weitere Meldungen: Meinl International Power Ltd.

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